Business
Bird Construction Inc. Announces Strong 2014 Second Quarter Financial Results
LISTING:   TORONTO STOCK EXCHANGE SYMBOL:  BDT MISSISSAUGA, ON , Aug. ...
About this update from Bird Construction Inc.
[{"type":"text","content":"\n\n\nLISTING:  TORONTO STOCK EXCHANGE\nSYMBOL: BDT\n\n\nMISSISSAUGA, ON, Aug. 6, 2014 /CNW/ -\n\n\nHIGHLIGHTS:\n\n\n\nSecond quarter net income of $10.0 million on construction revenue of\n $328.8 million, compares with $0.3 million and $312.3 million,\n respectively, in the second quarter of 2013.\n\n\n\n\nFor the six months ended June 30, 2014, the Company reported net income\n of $10.9 million on construction revenue of $603.5 million, compared\n with net income of $2.8 million on construction revenue of $600.7\n million in 2013.\n\n\n\n\nThe Company secured $715.5 million of new construction contracts,\n including change orders on existing contracts to date in 2014.  At June\n 30, 2014, the Company has backlog of $1,380.7 million compared with\n $1,268.7 million at December 31, 2013 and $1,064.4 million at June 30,\n 2013.\n\n\n\n\nBird's Board of Directors declares monthly dividends of $0.0633 per\n common share for September, October and November 2014.\n\n\n\n\"As expected, with our record backlog heavily weighted to the industrial\n sector, strong financial results were produced in the second quarter\n and improvements were realized on a year to date basis as this work\n program gained momentum\", commented Mr. Tim Talbott, President and CEO\n of Bird Construction.  \"With these contracts continuing to be executed\n through the summer months and the last half of the year, we are\n comfortable that our results for the balance of 2014 will show a\n similar improvement over last year as achieved in the first half of\n 2014.\"\n\n\n\n\n\n\n\nFinancial Results\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\n('000s except per share amounts)\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\n \n\n\n \n\n\n \n\n\n \n\n\nThree months ended\n\n\n \n\n\nSix months ended\n\n\n\n\n \n\n\n \n\n\n \n\n\n \n\n\nJune 30\n\n\n \n\n\nJune 30\n\n\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n2014\n\n\n \n\n\n2013\n\n\n \n\n\n2014\n\n\n \n\n\n2013\n\n\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\nConstruction Revenue\n\n\n$328,835\n\n\n \n\n\n$312,265\n\n\n \n\n\...