Sterling Construction Company Inc (STRL, Financial) filed Annual Report for the period ended 2010-12-31.
Sterling Construction Company Inc has a market cap of $212.1 million; its shares were traded at around $12.97 with a P/E ratio of 16.8 and P/S ratio of 0.5. Sterling Construction Company Inc had an annual average earning growth of 33.9% over the past 10 years.
Our highway and related bridge work is generally funded through federal and state authorizations. The federal government enacted the SAFETEA-LU bill in 2005, which authorized $244 billion for transportation spending through 2009. The U.S. Department of Transportation (“U.S.DOT”) budgeted $40.2 billion under SAFETEA-LU for federal highway financial assistance to the states for 2009, had authority to spend $43.1 billion in 2010 and has requested authority to spend $42.8 billion in 2011 for highways and bridges. Such spending for 2011 is subject to appropriations by the federal government.
In February 2009, the American Recovery and Reinvestment Act, or federal economic-stimulus legislation, was enacted by the federal government authorizing $27.5 billion for highway and bridge construction. A significant portion of these funds were to be used for ready-to-go, quick spending highway projects for which contracts could be awarded quickly. The highway funds apportioned to Texas, Utah and Nevada approximated $2.7 billion under the federal economic stimulus legislation, and the majority of such amount will be expended in 2009 through 2011.
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Sterling Construction Company Inc has a market cap of $212.1 million; its shares were traded at around $12.97 with a P/E ratio of 16.8 and P/S ratio of 0.5. Sterling Construction Company Inc had an annual average earning growth of 33.9% over the past 10 years.
Highlight of Business Operations:
Sterling operates in Texas, Utah and Nevada, states that management believes benefit from both positive long-term demographic trends as well as an historical commitment to funding transportation and water infrastructure projects. The Company also has highway construction contracts in Hawaii, Idaho, Montana and Louisiana. From 2005 to 2010, the populations of Texas, Utah and Nevada grew 10.2%, 15.8% and 14.8%, respectively, compared to approximately 4.5% for the national average. The dollar value of highway and bridge construction projects to be bid (“lettings”) in 2011 are: approximately $4.8 billion by the Texas Department of Transportation, or TXDOT; approximately $1.1 billion by the Utah Department of Transportation, or UDOT, and between $300 and $400 million by the Nevada Department of Transportation, or NDOT. While the near-term funding available to these markets is currently restrained, management anticipates that long-term population growth and increased spending for infrastructure in these markets will positively affect business opportunities over the coming years.Our highway and related bridge work is generally funded through federal and state authorizations. The federal government enacted the SAFETEA-LU bill in 2005, which authorized $244 billion for transportation spending through 2009. The U.S. Department of Transportation (“U.S.DOT”) budgeted $40.2 billion under SAFETEA-LU for federal highway financial assistance to the states for 2009, had authority to spend $43.1 billion in 2010 and has requested authority to spend $42.8 billion in 2011 for highways and bridges. Such spending for 2011 is subject to appropriations by the federal government.
In February 2009, the American Recovery and Reinvestment Act, or federal economic-stimulus legislation, was enacted by the federal government authorizing $27.5 billion for highway and bridge construction. A significant portion of these funds were to be used for ready-to-go, quick spending highway projects for which contracts could be awarded quickly. The highway funds apportioned to Texas, Utah and Nevada approximated $2.7 billion under the federal economic stimulus legislation, and the majority of such amount will be expended in 2009 through 2011.
Read the The complete Report
