MasTec Inc. (MTZ) reported that its fourth-quarter net income attributable to the company increased to $36.3 million from $8.5 million in the year ago quarter. On a GAAP basis, fourth quarter earnings per share were $0.45 compared to $0.10 for the fourth quarter of 2011.
Adjusted earnings per share for the quarter increased to $0.45 from $0.14 in the prior year. On average, ten analysts polled by Thomson Reuters expected the company to report earnings of $0.45 per share. Analysts' estimates typically exclude special items.
Revenue for the quarter was $932.3 million, up from $731.6 million in the comparable quarter last year, while nine analysts expected revenues of $889.00 million for the quarter. Analysts' estimates typically exclude special items.
For the first quarter of 2013, the company currently expects per share earnings of $0.24 on revenues of $850 million. Analysts expect the company to report per share earnings of $0.23 on revenues of $816.01 million for the first-quarter.
MasTec for 2013, expects full year earnings to range from $1.78 to $1.83 per share on revenue between $3.9 billion and $4.0 billion.
Analysts now expect the company to report earnings of $1.90 per share on revenues of $3.93 billion for fiscal 2013.
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