Sterling Construction Slips To Loss In Q3

(RTTNews) - Sterling Construction Co. Inc. (STRL) reported third-quarter net loss attributable to stockholders of $189 thousand or $0.06 per share, compared to a net income of $990 thousand or $0.01 per share in the previous year.

Excluding impact of revaluation of a liability related to non-controlling interest owners, net loss per share attributable to stockholders was $0.01, compared to net income per share of $0.06.

On average, three analysts polled by Thomson Reuters expected the company to report a loss of $0.09 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues for the quarter declined to $185.94 million from $205.28 million a year ago. Analysts estimated revenues of $198.07 million for the quarter.

Peter MacKenna, president and chief executive officer of the company said, "Our focus for the final quarter of 2013 and the coming year is on improving profitability...In summary, with the many actions we have taken to enhance our operational effectiveness, and the progress we've made in improving the margin profile of our backlog, we enter 2014 confident in our ability to achieve better margins and overall profitability."