Narrowed profit margin pushes Granite to Q2 loss – Silicon Valley / San Jose Business Journal

Narrowed profit margin pushes Granite to Q2 loss – Silicon Valley / San Jose Business Journal

On August 6, 2010, Posted by , In Uncategorized, With No Comments

Narrowed profit margin pushes Granite to Q2 loss – Silicon Valley / San Jose Business Journal: “Granite Construction Inc. on Monday reported a loss in the second quarter of $6.7 million, or 18 cents a share, compared to net income in the same quarter last year of $17.9 million, or 46 cents a share.

Watsonville-based Granite (NYSE:GVA) had revenue of $454.2 million, down slightly from the year-ago quarter’s $461.1 million. Gross profit margin was 11 percent, down from 18 percent in 2009, driven primarily by the lack of private-sector work and too much capacity for the available work in the marketplace.”

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