XML 71 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 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2014
Jun. 30, 2013
Revenue        
Construction $ 269,220 $ 308,602 $ 426,261 $ 485,720
Large Project Construction 244,328 181,557 431,663 353,271
Construction Materials 72,322 60,185 107,771 89,936
Real Estate 0 4 22 125
Total revenue 585,870 550,348 965,717 929,052
Cost of revenue        
Construction 244,393 284,532 392,289 448,451
Large Project Construction 193,536 159,986 365,080 308,979
Construction Materials 65,524 56,231 104,526 91,957
Real Estate 2 3 0 13
Total cost of revenue 503,455 500,752 861,895 849,400
Gross profit 82,415 49,596 103,822 79,652
Selling, general and administrative expenses 51,098 46,789 100,346 103,950
Gain on sales of property and equipment 2,993 3,306 3,886 4,394
Operating income (loss) 34,310 6,113 7,362 (19,904)
Other income (expense)        
Interest income 413 380 893 508
Interest expense (4,339) (3,700) (7,937) (7,345)
Equity in income of affiliates 410 698 1,202 275
Other income (expense), net 1,697 (495) 1,645 608
Total other expense (1,819) (3,117) (4,197) (5,954)
Income (loss) before provision for (benefit from) income taxes 32,491 2,996 3,165 (25,858)
Provision for (benefit from) income taxes 10,284 1,214 2,220 (7,813)
Net income (loss) 22,207 1,782 945 (18,045)
Amount attributable to non-controlling interests (8,566) (363) (7,858) (2,518)
Net income (loss) attributable to Granite Construction Incorporated $ 13,641 $ 1,419 $ (6,913) $ (20,563)
Net income (loss) per share attributable to common shareholders (see Note 12)        
Basic (in dollars per share) $ 0.35 $ 0.04 $ (0.18) $ (0.53)
Diluted (in dollars per share) $ 0.34 $ 0.04 $ (0.18) $ (0.53)
Weighted average shares of common stock        
Weighted average common shares outstanding, basic 39,115 38,829 39,033 38,720
Weighted average common shares outstanding, diluted 39,807 39,769 39,033 38,720
Dividends per common share (in US$ per share) $ 0.13 $ 0.13 $ 0.26 $ 0.26