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Contractor reports loss

Tuesday, April 2, 2002 | 10:50 a.m.

PHOENIX -- Meadow Valley Corp. today reported a loss of $2.4 million, or 66 cents per share for the fourth quarter ended Dec. 31 despite a 15 percent increase in revenue.

The Phoenix-based heavy construction contractor, which does a lot of business in Las Vegas, said its revenue was $40.6 million in the fourth quarter, up from $35.2 million from the fourth quarter of 2000. For the fourth quarter of 2000, the loss was $1.8 million, or 51 cents per share.

Meadow Valley said its cash flow has been affected by costs associated with a series of claims it has filed or will file against Clark County Public Works and the New Mexico State Highway and Transportation Department for payments.

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