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Southwest Gas Corporation Message Board

  • joebsib joebsib Aug 7, 2012 5:11 PM Flag

    fixed price construction ??

    can anyone explain this to me? How do you miss your cost estimates on a fixed price contract by 13 Million?

    From press release-
    The loss during the current quarter was primarily due to the recognition by the construction services segment of $13 million of costs in excess of revenues (pretax) associated with a large fixed-price pipe replacement contract. Due to the seasonal nature of the Company's businesses, results for quarterly periods are not generally indicative of earnings for a complete twelve-month period.

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