Bird Construction Inc. Announces Record Fourth Quarter 2012 Revenue and Net Income, 2012 Annual Financial Results and a 5.5% Increase in the Monthly Dividend

About this update from Bird Construction Inc.

[{"type":"text","content":"\n\n\n\n\n\nLISTING: TORONTO STOCK EXCHANGE\nSYMBOL: BDT\n\n\nTORONTO, March 12, 2013 /CNW/ - HIGHLIGHTS:\n\n\nRecord fourth quarter net income of $24.7 million on record quarterly\n construction revenue of $420.3 million, compares with $12.9 million and\n $332.0 million, respectively, in the fourth quarter of 2011.\n\nSecond highest level of annual net income of $58.2 million ($1.38 per\n share) on record construction revenue of $1,454.9 million, compares\n with $29.6 million ($0.70 per share) on construction revenue of $974.5\n million in 2011.\n\nAdjusted net income for the three months ended December 31, 2012 was\n $25.6 million, compared with $14.2 million in 2011.\n\nAdjusted net income for fiscal 2012 of $62.0 million ($1.47 per share)\n compares with $32.1 million ($0.76 per share) recorded in 2011.\n\nThe Company carries forward backlog of $1,073.9 million at December 31,\n 2012.\n\nIn the last quarter of 2012, the Company achieved construction\n completion on the Ontario Provincial Police Modernization public\n private partnership project which included the construction of 17\n facilities across the province of Ontario.\n\nIn the last quarter of 2012, the Company achieved construction\n completion on the RCMP \"E\" Division headquarters public private\n partnership project. The RCMP \"E\" facility is the largest RCMP division\n facility in Canada.\n\nIn the fourth quarter, the Company was part of a consortium awarded a\n bulk excavation and civil works construction contract by Nalcor Energy\n at its Muskrat Falls Hydroelectric Generating Station, located on the\n Lower Churchill River in the Province of Newfoundland and Labrador.\n\nOn January 17, 2013, Bird successfully completed the acquisition of\n Nason Contracting Group Ltd., executing another strategic initiative of\n the Company.\n\nBird's Board of Directors approved a 5.5% increase in the monthly\n dividend from $0.06 ($0.72 per year) to $0.0633 ($0.76 per year) per\n share, effective with the March 2013 dividend.\n\n\nTim Talbott, President and C.E.O. of Bird, stated that \"we are extremely\n pleased to report record levels of revenue and net income in the fourth\n quarter of 2012. The financial performance in the last three months of\n 2012, at both our traditional Bird operations and our O'Connell\n subsidiary, allowed us to continue with the momentum e...

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