Sterling Construction Company, Inc. Reports 2011 Fourth Quarter and Full Year ...
24.05.12
HOUSTON, Mar 14, 2012 (BUSINESS WIRE) --
Sterling Construction Company, Inc. (nasdaqgs:STRL) ("Sterling" or "the
Company") today announced results for the fourth quarter and year ended
December 31, 2011. Results for these periods reflect:
--
A pre-tax net charge of $5.9 million, or $0.26 per fully diluted
share, due to revisions to previous estimates of revenues and costs
for a number of construction projects.
--
A $67.0 million charge related to the impairment of goodwill. The
impairment increased the net loss attributable to Sterling common
stockholders for the fourth quarter by $41.8 million (net of the
related tax benefits and reduced by the amount attributable to
noncontrolling interest owners) or $2.55 per diluted share.
3 Months Ended % Year Ended %
$ in millions
Source: MarketWatch (press release)