XML 52 R5.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Sep. 30, 2013
Sep. 30, 2012
Revenue        
Construction $ 470,567 $ 385,744 $ 956,287 $ 748,803
Large Project Construction 187,820 255,918 540,906 648,645
Construction Materials 83,172 86,782 173,107 175,754
Real Estate 16 38 141 5,055
Total revenue 741,575 728,482 1,670,441 1,578,257
Cost of revenue        
Construction 420,932 352,471 868,300 688,989
Large Project Construction 190,363 198,104 498,639 540,343
Construction Materials 75,884 76,798 167,839 166,720
Real Estate 0 10 13 4,254
Total cost of revenue 687,179 627,383 1,534,791 1,400,306
Gross profit 54,396 101,099 135,650 177,951
Selling, general and administrative expenses 46,586 41,280 150,698 127,801
Loss (gain) on restructuring 474 0 (23) (2,527)
Gain on sales of property and equipment 3,259 1,622 7,653 6,493
Operating income (loss) 10,595 61,441 (7,372) 59,170
Other (expense) income        
Interest income 602 485 1,110 2,140
Interest expense (3,736) (2,561) (11,081) (8,570)
Equity in (loss) income of affiliates (2) 1,481 273 380
Other income, net 1,022 2,013 1,630 3,866
Total other (expense) income (2,114) 1,418 (8,068) (2,184)
Income (loss) before provision for (benefit from) income taxes 8,481 62,859 (15,440) 56,986
Provision for (benefit from) income taxes 4,026 17,113 (3,235) 15,440
Net income (loss) 4,455 45,746 (12,205) 41,546
Amount attributable to noncontrolling interests 6,542 (8,625) 3,938 (14,249)
Net income (loss) attributable to Granite Construction Incorporated $ 10,997 $ 37,121 $ (8,267) $ 27,297
Net income (loss) per share attributable to common shareholders (see Notes 13 and 14)        
Net income (loss) per share attributable to common shareholders - Basic (in dollars per share) $ 0.28 $ 0.96 $ (0.21) $ 0.71
Net income (loss) per share attributable to common shareholders - Diluted (in dollars per share) $ 0.28 $ 0.94 $ (0.21) $ 0.70
Weighted average shares of common stock        
Weighted average shares of common stock - Basic 38,876 38,518 38,773 38,418
Weighted average shares of common stock - Diluted 39,759 39,141 38,773 39,013
Dividends per common share $ 0.13 $ 0.13 $ 0.39 $ 0.39