Civil construction contractor
reaffirmed Wednesday, its positive outlook for the company's financial performance in 2006, as the demand for its construction services and aggregate materials continues to be strong in the West.
The Watsonville, Calif.-based company said that the healthy public sector opportunities, and private non-residential commercial and industrial work available for the branch division, support the expectation that this division will deliver 2006 operating income that exceeds the record performance set in 2005.
The company on the back of branch division's positive outlook, expects its earnings in 2006 to exceed that of 2005. Analysts polled by Thomson First Call were expecting earnings of $2.68 a share on revenue of $3.01 billion for the full year.
The company also updated its July 26 guidance, indicating that it does not expect the operating results for the heavy-construction division to reach break-even this year.
The company will announce its third quarter 2006 results on Oct. 25.
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