Great Lakes Dredge & Dock Posts Loss In Q1 - Quick Facts

(RTTNews) - Great Lakes Dredge & Dock Corporation (GLDD) reported a first-quarter loss from continuing operations of $2.46 million or $0.04 per share, compared to profit of $4.75 million or $0.08 per share, last year. Net loss attributable to stockholders was $5.19 million or $0.09 per share, compared to profit of $433 thousand or $0.01 per share, a year ago.

On average, six analysts polled by Thomson Reuters expected the company to report a loss per share of $0.01 for the quarter. Analysts' estimates typically exclude special items.

Contract revenues decreased to $174.38 million from $180.15 million. Analysts expected revenue of $198.15 million for the quarter. Revenue was down 3.2% from a very strong first quarter of 2013 largely related to lower dredging revenues, the company said.