Great Lakes Dredge & Dock Corporation (GLDD) 2010年年度报告「NASDAQ」.pdf

1、2010 Annual ReportGREAT LAKES DREDGE&DOCK CORPORATIONGrowing Through OpportunitiesGreat Lakes Dredge&Dock Corporation is embarking on a new era as we enter 2011.With 120 years of experience and success behind us,we are ready to look forward and continue to grow the business.We are widening our focus

2、 to include related and expanded activities to differ-entiate ourselves from our competitors.We will view our markets in new ways to ensure we are providing the services our customers should expect and the opportunities our employees deserve.Financial Highlights(In thousands,except per share amounts

3、)20102009200820072006Revenue$686,922$622,244$586,879$515,761$425,980EBITDA*$103,006$77,624$55,913$57,454$52,579Net Income(Loss)Attributable to GLDD$34,609$17,468$4,979$7,056$(8,803)Diluted Earnings per Share$0.59$0.30$0.09$0.14$(0.90)Total Assets$693,825$665,426$666,155$624,362$528,359Net Debt*$134,

4、325$183,950$207,575$189,534$191,045*Discussion and reconciliation of EBITDA to net income attributable to Great Lakes Dredge&Dock is included under Item 6 of our 10-K.*Net Debt represents outstanding debt less cash.10Revenue(In thousands)06 07 08 09$686,9220100200300400500600700800 10EBITDA*(In thou

5、sands)06 07 08 09$103,0060204060801001201Letter to ShareholdersWe are pleased to report that 2010 marked a record year for Great Lakes as we achieved revenues of$687 million and EBITDA of$103 million.We are excited to deliver a record year for investors.Passing the century mark in EBITDA is a signif

6、icant achievement for which we thank Great Lakes shareholders for their commitment,our employees for their performance,and our customers for their loyalty.In addition,we enhanced liquidity,reduced debt and made an acquisition which will be immediately accretive to earnings.We delivered these strong