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| Granite Construction Incorporated Reports Third Quarter 2005 Results Granite Construction Incorporated announced its results for the third quarter ended September 30, 2005. The Company reported net income for the quarter of $40.7 million. This compares with net income of $32.8 million for the same period last year. For the nine-month period ended September 30, 2005, net income was $47.3 million compared with $37.5 million for the same period in 2004. For the third quarter of 2005, total revenue increased 23.5% to $864.2 million compared with $699.8 million a year ago. Total gross profit as a percent of revenue for the third quarter 2005 decreased to 12.7% compared with 13.6% for the same period last year. Operating income increased to $62.0 million for the third quarter of 2005 compared with $54.0 million for the third quarter 2004. For the nine-month period ended September 30, 2005, revenue for the Company totaled $2.0 billion compared with $1.6 billion for the same period last year. Total gross profit as a percent of revenue for the nine months ended September 30, 2005 increased to 10.9% compared with 10.4% last year. Operating income for the nine month period increased to $79.1 million compared with $66.4 million for the same period in 2004. Total company backlog at September 30, 2005 was $2.4 billion compared with $2.3 billion a year ago. write your comments about the article :: © 2005 Construction News :: home page |