Vulcan Takes a Dip
- Published: Sunday, 06 February 2011 00:00
The Birmingham, Alabama-based company reported net loss for the fourth quarter that widened to $47 million or $0.37 per share from $13.35 million or $0.11 per share in the year-ago quarter. The latest quarter's results include certain adjustments and charges that lowered pretax earnings by about $21 million.
Loss from continuing operations for the quarter widened to $46.15 million or $0.36 per share from $12.58 million or $0.10 per share in the prior-year quarter. On average, sixteen analysts polled by Thomson Reuters expected the company to report a loss of $0.18 per share for the quarter. Analysts' estimates typically excludes special items.
Total revenues, which is net sales plus delivery revenue, edged down to $586.24 million from $590.14 million in the same period last year and missed analysts' consensus revenue estimate of $598 million.