Granite Construction Inc. (GVA) reported third-quarter net income attributable to the company of $30.598 million compared to $51.738 million last year. Earnings per share attributable to shareholders decreased to $0.79 from $1.35 a year ago.
On average, 13 analysts polled by Thomson Reuters expected the company to report profit of $0.77 per share for the quarter. Analysts' estimates typically exclude special items.
Total revenue was $720.3 million compared to $897.8 million last year. Analysts expected revenue of $749.39 million for the quarter.
The company now expects Granite West revenue in 2009 to be between $1.4 billion and $1.5 billion. The company expects Granite East revenue in 2009 to be in the range of $600.0 million and $650.0 million. Net income attributable to noncontrolling interests in joint ventures is now expected to be approximately $26.0 million for the year.
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