Granite Construction Inc. Q4 2008 Earnings Call Transcript

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2009-03-01 19:43:18.0

Tags: Project, Call Transcript, Earnings, Heavy Construction, Granite Construction Inc., Seeking Alpha

Question-and-Answer Session

Operator

(Operator instructions) Your first question comes from the line of Bob Labick with CJS Securities.

Bob Labick – CJS Securities

Good morning. Congratulations on a strong quarter and year.

Bill Dorey

Thanks, Bob.

Jim Roberts

Thank you.

Bob Labick – CJS Securities

First question I wanted to ask, you obviously you did a very good job in 2008 as it relates to finding other projects such as the border fence work and things, larger projects to support the West division, and Bill I think you alluded to seeking out more of those projects in 2009 and beyond. Is there anything you – that you are bidding on that you could discuss, kind of outside projects (inaudible) that we should think about going forward?

Bill Dorey

Well, I don't think it would be appropriate for us to single out any particular project or program. But I will tell you and I think this is a product of having your normal market disrupted to some degree and having it not be as strong it has been over the last several years. It triggers I think a need to get outside the box to do some things a little differently, expand our horizon, and we certainly did that in 2008, and I suspect our expectation is that we will continue to do that in 2010. I'm not here to tell you precisely where those nuggets will be found, but we are looking real hard right now for opportunities to replace that border work and some of the other work that we capitalized on in 2008. Jim, you want to add to that?

Jim Roberts

Yes, Bill. Maybe I can add a little bit here Bob. One of the things we did in that realignment program of February 2007 was create large projects group in Granite West, and I am happy to report that they are really making tremendous progress. And what we have been able to do is kind of our Granite West normal branch type construction bid and bring in a little heavy construction division mentality for large projects and kind of open up the doors to new opportunities. We're seeing design build opportunities in the West, we can chat about that a little bit, with some of the California legislative passing of the design bills and public-private partnerships, and alternative energy programs. We're looking into all of these things in the West now and really prior to our realignment, we may not have been looking into these things. So that is part of the success we had last year and we are really elevating that game in 2009 as well.

 

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