Volume 36, Number 3, March 2001


Flour City Internatoinal Posts Year-End Revenues of $70.2 Million

Flour City International of Kingsport, Tenn. recently announced increases in both its fourth-quarter and October 31, 2000 year-end earnings. “The past year has been yet another unparalleled year of growth for the company,” said Edward M. Boyle, president. “I attribute the tremendous growth in revenue, our significant improvement in net income and five consecutive quarters of profitability to a solid business plan, a strong multi-continent infrastructure and a focused, cohesive management team,” he added.

The company’s financial statement says fourth-quarter earnings rose 59 percent to $22.8 million compared to 1999’s fourth-quarter earnings of $14.4 million. Net income for the fourth quarter saw a 21 percent improvement at $889,000, or earnings per share of 17 cents on a diluted basis, compared to $718,000 or 14 cents per share on a diluted basis
in 1999.

In addition, revenue for the October 31 period was $70.3 million, a $25.3 million increase in revenue and 56 percent improvement over revenue of $44.4 million reported for the 1999 fiscal year. The company’s net income for 2000 was $2.6 million, or net earnings of 47 cents on a diluted basis, compared with a $2.2 million net loss in 1999.

Johnson K. Fong, vice president and chief financial officer, also said the company’s contract backlog was $110,700 million compared to 1999’s backlog of $108.900 million.


Firm $ Million

 Centex 4,545.9
The Turner Corp. 3,971.0

Skanska (USA) Inc. 2,694.0
Bovis Lend Lease Inc. 1,929.3
Gilbane Building Co. 1,641.4
Kellogg Brown & Root 1,604.0
Structure Tone Inc. 1,513.3
The Clark Construction Group Inc. 1,495.0
J.A. Jones Inc. 1,319.1
The Whiting-Turner Contracting Co. 1,141.0
PCL Construction Enterprises Inc. 1.136.0
Dunn Construction Group 1,032.7
Opus Group of Cos. 1,015.3
Hensel Phelps Construction Co. 987.1
Swinerton Inc. 938.0
Hunt Construction Group 894.0
Morse Diesel International Inc. 744.0

Firm $ Million
McCarthy 722.5

DPR Construction Inc. 690.0
The Pepper Cos. 686.1
Kraus-Anderson Construction Co. 679.0
Barton Marlow Co. 669.0
M.A. Mortenson Co. 661.9
The Weltz Co. Inc. 657.1
Manhattan Construction Co. 650.0
Perini Corp. 644.0
Webcor Builders 635.6
Devcon Construction Inc. 585.0
The Beck Group 578.0
Fisher Development Inc. 577.0
Brasfield & Gorrie L.L.C. 556.0
Holder Construction Co. 555.2
Hardin Construction Group 543.1
Suffolk Construction Co. Inc. 524.0
Duke-Weeks Construction 516.8
Dillingham Construction Holdings Inc. 507.4
The Walsh Group 505.3

Firm $ Million
Rudolph & Sletton Inc. 485.6
Peter Klewit Sons' Inc. 482.2
Austin Industries 448.2
The Yates Cos. Inc 446.6
HRH Construction Corp. 442.7
H&N/McClier 424.0
Ryan Cos. US Inc. 412.5
Dick Corp. 398.0
The Sundt Cos Inc. 397.4
Baugh Enterprises Inc. 384.0
Carlson 383.8
Ellis-Don Construction Co. Inc. 379.0
Fluor Corp. 372.0
Hathawat Dinwiddie Construction Co. 372.0
Source: ENR Sourcebook, September 2000.



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