Goldfield Corp (GV)

[apollo1452]

Record 396% Increase in Backlog

John H. Sottile, President - CEO of Goldfield said, "The almost four-fold growth in our electrical construction MSAs during the second and third quarters demonstrates the strength of our electrical construction operation. At September 30th, anticipated 12-month revenue from MSAs stood at about $48 million -- up from about $13 million a year ago. We expect that these new MSAs will begin to have a significant impact on our operating results beginning in the current quarter. Future results should also be favorably impacted by the strong 78% growth in our project specific firm contracts, with anticipated 12-month revenue from such contracts increasing to about $40 million from about $22 million a year ago."