Vulcan Materials Co. (VMC) reported a fourth quarter net loss of $13.35 million or $0.11 per share, compared to a loss of $212.82 million or $1.93 per share in the same period last year.
Loss from continuing operations was $12.58 million or $0.10 per share, compared to a loss of $212.16 million or $1.92 per share in the previous year period.
Total revenues for the quarter decreased to $590.14 million from $799.20 million in the corresponding period last year.
Analysts polled by Thomson Reuters expected the company to report a loss of $0.01 per share on revenues of $644.56 million for the quarter. Analysts' estimates typically exclude special items.
Looking ahead, the company now expects full year capital spending to be about $125 million, up from $110 million spent in 2009 and down sharply from the $353 million spent in 2008.
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