Sterling Construction Company, Inc. (NasdaqGS: STRL) (“Sterling” or “the Company”) today announced financial results for the fourth quarter and full year ended December 31, 2012.
|$ in millions||3 Months Ended||12 Months Ended|
|(except per share data)||12/31/12*||12/31/11**||% Change*||12/31/12*||12/31/11**||% Change*|
|Operating income (loss)||$||7.1||$||(69.0||)||NM||$||15.0||$||(52.2||)||NM|
|Net income (loss) attributable to common stockholders||$||2.9||$||(43.6||)||NM||$||(0.3||)||$||(35.9||)||NM|
|Diluted net income (loss) per share attributable to common stockholders***||$||0.01||$||(2.72||)||NM||$||(0.26||)||$||(2.24||)||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-K and may differ from the amounts which would have been calculated from the table above as a result of rounding.
** The consolidated results for 2011 include a pre-tax charge of $67.0 million ($41.8 million after income taxes and noncontrolling interest or $2.55 per diluted share) related to the impairment of goodwill.
***For the 2012 periods, diluted net income (loss) per share attributable to common stockholders includes $(0.17) for the quarter and $(0.24) for the year, respectively, for the impact from credits (charges) to retained earnings related to revaluations of noncontrolling interest liabilities. For the 2011 periods, the impact from these revaluations was $(0.05) for both the quarter and the year.NM – Not meaningful 2012 Fourth Quarter Compared to 2011 Revenues for the fourth quarter increased 38.7% over the 2011 comparable quarter primarily as a result of higher activity levels in most of our geographic markets, especially California and Texas.
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