Bruce J Biemeck News

Great Lakes Dredge & Dock Corp reporte financial results for the final quarter and year ended December 31, 2012. ◦    The above increases were partially offset by decreases in demolition revenue (52%) and coastal protection (previously referred to as beach nourishment) revenue (27%). Significant work was done in the demolition segment in 2012 on projects where revenue was not recognized because of pending change orders. In addition, demolition revenue was higher in 2011 due to the revenue recorded on a large bridge demolition project in Louisiana that did not reoccur in 2012. Coastal protection revenue was atypically high in 2011. ◦    This was partially offset by an increase in revenue in the dredging segment, specifically higher margin capital projects.