Key Developments For Sterling Construction Company Inc
Sterling Construction Company Inc (STRL.O) (Nasdaq)
Sterling Construction Company, Inc. See To Exceed FY 2009 Earnings Guidance; Lowers FY 2009 Revenue Guidance; Comments On FY 2010 Guidance
Sterling Construction Company, Inc. announced that it expects to exceed guidance for operating income, net income and diluted earnings per share (EPS) for fiscal 2009. However, it believe that fiscal 2009 revenues will be below the range of previously issued guidance. Based on the factors and the more competitive bidding climate, fiscal 2010 revenues and net income attributable to common stockholders could be below, and may be substantially below, those expected for fiscal 2009. According to Reuters Estimates, analysts were expecting the Company to report revenues of $429 million, EBIT of $34.06 million, net income of $21.71 million and EPS of $1.57 for fiscal 2009; revenues of $468.77 million and EPS of $1.46 for fiscal 2010.
Sterling Construction Company, Inc. Comments On FY 2009 Revenue Outlook; Sees FY 2009 Earnings Outlook At High End Of Prior Range
Sterling Construction Company, Inc. announced that for fiscal 2009, it expects revenues to be only slightly ahead of fiscal 2008 revenues, net income and diluted net income per common share (EPS) to be towards the higher end of fiscal 2009 outlook. The Company reported revenues of $415 million in fiscal 2008. According to Reuters Estimates, analysts were expecting the Company to report revenues of $442 million, net profit of $20 million and EPS of $1.37 for the same period.
Sterling Construction Company, Inc. Wins Contract to Construct $32.8 Million Highway Project in Hawaii
Sterling Construction Company, Inc. announced that its subsidiary, Road and Highway Builders, LLC, was notified that it was the apparent low bidder on a $32.8 million construction project on the Island of Hawaii for the Federal Land Highway Division of the U.S. Department of Transportation. Project construction is expected to begin late in the third quarter of 2009 and last approximately 24 months. The scope of the construction consists of the rebuilding of a 2-lane highway on Saddle Road, including excavation, embankment, asphalt paving and new drainage.
Sterling Construction Company, Inc. Secures Contract
Sterling Construction Company, Inc. announced that its subsidiary, Texas Sterling Construction Co., was notified on April 13, 2009 that it was selected Construction Manager at Risk (CMR) by the City of San Antonio on a $25 million project to widen Bulverde Road from Loop 1604 to Evans Road. This work consists of design consultation and construction management of the roadway improvements.
Sterling Construction Company, Inc. Reaffirms FY 2009 Outlook
Sterling Construction Company, Inc. reaffirmed fiscal 2009 guidance and expects revenues to be in the range of $460.0-$510.0 million, income before tax of $23.7-$32.6 million and net income in the range of $15.4-$21.2 million and net income per diluted share (EPS) in the range of $1.12-$1.54. According to Reuters Estimates, analysts were expecting the Company to report revenue of $484 million, net profit of $21 million and EPS of $1.44 for the same period.
