-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, ApZRxwJ9b2pdAJvQ+ryZ6vX8UfNCNpTMWookPqyzIZe4F2ggHFhcwx4jxGffCXTx oGVbtP/HhwD86UxJubqYQQ== 0001275287-07-000910.txt : 20070223 0001275287-07-000910.hdr.sgml : 20070223 20070222194553 ACCESSION NUMBER: 0001275287-07-000910 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20070222 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20070223 DATE AS OF CHANGE: 20070222 FILER: COMPANY DATA: COMPANY CONFORMED NAME: GRANITE CONSTRUCTION INC CENTRAL INDEX KEY: 0000861459 STANDARD INDUSTRIAL CLASSIFICATION: HEAVY CONSTRUCTION OTHER THAN BUILDING CONST - CONTRACTORS [1600] IRS NUMBER: 770239383 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-12911 FILM NUMBER: 07643647 BUSINESS ADDRESS: STREET 1: 585 WEST BEACH ST CITY: WATSONVILLE STATE: CA ZIP: 95076 BUSINESS PHONE: 8317241011 MAIL ADDRESS: STREET 1: 585 WEST BEACH ST CITY: WATSONVILLE STATE: CA ZIP: 95076 8-K 1 gc9073.txt FORM 8-K ================================================================================ UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ---------- FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (Date of earliest event reported) February 22, 2007 GRANITE CONSTRUCTION INCORPORATED ------------------------------------------------------ (Exact name of registrant as specified in its charter) Delaware 1-12911 77-0239383 ---------------------------- ------------ ------------------- (State or other jurisdiction (Commission (IRS Employer of incorporation) File Number) Identification No.) 585 West Beach Street Watsonville, California 95076 ---------------------------------------- ---------- (Address of principal executive offices) (Zip Code) (831) 724-1011 -------------------------------------------------- Registrant's telephone number, including area code Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) ================================================================================ ITEM 2.02 RESULTS OF OPERATIONS AND FINANCIAL CONDITION. On February 22, 2007, Granite Construction Incorporated (the "Company") issued a press release with respect to its earnings for the quarter ended December 31, 2006, a copy of which is attached as Exhibit 99.1. The information set forth is furnished pursuant to Item 2.02, "Results of Operations and Financial Condition" and shall not be deemed "filed" for purpose of Section 18 of the Securities Exchange Act of 1934, nor shall the information, including the Exhibit, be deemed incorporated by reference in any filing of the Company, except as shall be expressly set forth by specific reference in such filing. ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS (d) Exhibits. The following exhibits are attached hereto and furnished herewith: Exhibit Number Exhibit Title - ------- --------------------------------------------------------------------- 99.1 Press Release of Registrant, dated February 22, 2007, revision to its fourth quarter financial results 2 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. GRANITE CONSTRUCTION INCORPORATED Date: February 22, 2007 By: /s/ William E. Barton ----------------------------- William E. Barton Senior Vice President and Chief Financial Officer 3 INDEX TO EXHIBITS EXHIBIT NUMBER DOCUMENT - ------- --------------------------------------------------------------------- 99.1 Press Release of Registrant, dated February 22, 2007, revision to its fourth quarter financial results 4 EX-99.1 2 gc9073ex991.txt EXHIBIT 99.1 Exhibit 99.1 GRANITE CONSTRUCTION INCORPORATED ANNOUNCES UPWARD REVISION OF FOURTH QUARTER AND FULL YEAR 2006 EARNINGS WATSONVILLE, Calif., Feb. 22 /PRNewswire-FirstCall/ -- Granite Construction Incorporated (NYSE: GVA) today announced an upward revision to its fourth quarter and year-to-date 2006 earnings in the amount of approximately $2.3 million or $0.05 per diluted share. The revision reflects management's evaluation of a subsequent event involving a partial settlement of an unresolved revenue issue on its Heavy Construction Division State Route 22 project in Southern California which occurred after its earnings release on February 14, 2007. The revised year-to-date 2006 net income is $80.5 million or $1.94 per diluted share, versus $78.2 million, or $1.89 per diluted share originally reported on February 14, 2007. A reconciliation between the results originally reported in our earnings release on February 14, 2007 and the revised results for the year ended December 31, 2006 is as follows (in thousands except per share amounts):
As Originally Reported Adjustment As Revised ------------- ---------- ---------- Total revenue $ 2,964,904 $ 4,700 $2,969,604 Gross profit 290,420 5,300 295,720 Income before provision for income taxes and minority interest 107,717 5,300 113,017 Minority interest 7,720 (1,550) 6,170 Net income 78,220 2,289 80,509 Net income per share: Basic 1.91 0.06 1.97 Diluted 1.89 0.05 1.94
Audited financial results will appear in Granite's Form 10-K, which will be filed on or before March 1, 2007. Company Description Granite, a member of the S&P 400 Midcap Index, the Domini 400 Social Index and the Russell 2000, is one of the nation's largest diversified heavy civil contractors and construction materials producers. Granite Construction serves public and private sector clients through its offices nationwide. For the 4th straight year, Granite was named to FORTUNE'S List of 100 Best Companies to Work For. For more information about the company, please visit their website at www.graniteconstruction.com. SOURCE Granite Construction Incorporated -0- 02/22/2007 /CONTACT: Jacque Underdown of Granite Construction Incorporated, +1-831-761-4741/ /Web site: http://www.graniteconstruction.com/ (GVA) -----END PRIVACY-ENHANCED MESSAGE-----