WASHINGTON (dpa-AFX) - Vulcan Materials Company (VMC) a producer of construction aggregates, Thursday reported a wider loss for the first quarter reflecting increased cost of goods sold The company, however, backed its full-year outlook.
For the quarter the company reported net loss of $54.83 million, wider than prior-year loss of $52.05 million. On a per share basis loss recorded was $0.42 versus $0.40 last year. The company further posted loss per share from continuing operations of $0.47 for the quarter.
Twelve analysts on average polled by Thomson Reuters estimated loss per share of $0.35 for the period. Analyst estimates typically exclude one-time items.
The company clocked a revenue of $504.55 million, up from $499.85 million for the year earlier period. Analysts were looking for higher revenue of $535.71 million.
Cost of goods sold rose to $486.89 million from $477.89 million last year.
Looking forward, the company said it continues to expect to achieve earnings improvement in 2013.
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