This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Sterling Construction Company, Inc. Reports 2012 Second Quarter Results

Sterling Construction Company, Inc. (NasdaqGS: STRL) (“Sterling” or “the Company”) today announced results for the second quarter and six months ended June 30, 2012.

       

 

                             

$ in millions

3 Months Ended

%Change *

6 Months Ended

%Change*

(except per share data)

        6/30/12       6/30/11            

6/30/12

     

6/30/11

     
Revenues         $ 168.7         $ 128.5         31.3 %       $ 267.1         $ 227.7         17.3 %
Gross profit         $ 15.2         $ 13.6         11.8 %       $ 17.0         $ 21.2         (19.8 )%
Gross margin           9.0 %         10.6 %       (15.1 )%         6.4 %         9.3 %       (31.2 )%
Operating income         $ 8.2         $ 7.3         12.3 %       $ 3.7         $ 9.0         (58.9 )%

Net income (loss) attributableto common stockholders

        $ 3.3         $ 4.2         (21.4 )%       $ (4.2 )       $ 4.3         NM

Diluted net income (loss) pershare attributable tocommon stockholders **

        $ 0.15         $ 0.25         (40.0 )%       $ (0.29 )       $ 0.26         NM

* The percentages and amounts shown for changes between periods in the table above and in the discussions below are based on the amounts reported in the Form 10-Q and may differ from the amounts which would have been calculated from the table above as a result of rounding.

** Based on 16.4 million and 16.6 million weighted-average diluted shares outstanding for the three months ended June 30, 2012 and 2011, respectively and 16.3 million and 16.6 million weighted-average diluted shares outstanding for the six months ended June 30, 2012 and 2011.

NM – Not meaningful

2012 Second Quarter Compared to 2011

Revenues for the quarter increased 31.3% over the 2011 comparable quarter primarily as a result of $35.6 million of revenues from recently acquired operations in Arizona and California and higher revenues from our Nevada operations reflecting the impact of the $25 million of contracts assumed from Aggregate Industries, Inc. in January 2012. The improvements were somewhat offset by lower revenues in Texas.

1 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs