Meadow Valley Awarded $7.3 Million Construction Contract.PHOENIX -- Meadow Valley Corporation (NASDAQ NASDAQin full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :MVCO MVCO Martha's Vineyard Coastal Observatory ) announced today that it has been awarded a new construction contract valued at approximately $7.3 million. Meadow Valley was awarded the contract by the Arizona Department of Transportation The Arizona Department of Transportation (ADOT) is an Arizona state government agency charged with facilitating mobility within the state. In addition to managing the state's highway system, the agency is also involved with public transportation and municipal airports. to resurface re·sur·face v. re·sur·faced, re·sur·fac·ing, re·sur·fac·es v.tr. To cover with a new surface: resurfacing a road; resurfaced the floor. v.intr. an 11-mile section of I-8 near Yuma, Arizona. The project includes milling, removal and replacement of approximately 100,000 tons of asphaltic concrete, for which Meadow Valley plans to employ its portable crushing, asphalt production and paving equipment. Work under the contract is scheduled to begin in early 2007 and is expected to be completed within seven months. About Meadow Valley Meadow Valley Corporation, based in Phoenix, is engaged in the construction industry as both a contractor and a supplier of construction materials. The Company's construction services segment specializes in structural concrete construction of highway bridges and overpasses, and the paving of highways and airport runways, primarily in Nevada and Arizona. The Company's construction materials operations provide concrete and gravel products primarily to other contractors. The Company's materials operations are concentrated in Southern Nevada and Arizona. Forward-Looking Statements Certain statements in this release are forward-looking statements within the meaning of the Securities Litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. Reform Act of 1995. Such statements are based on current expectations, estimates and projections about the Company's business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements due to numerous factors, including the following: changes in demand for the Company's products and services, product mix, the timing of new orders and contract awards, the impact of competitive products and pricing, excess or shortage of production capacity, and other risks discussed from time to time in the Company's Securities and Exchange Commission filings and reports, including the Company's Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended December 31, 2005, and quarterly report on Form 10-Q Form 10-Q See 10-Q. for the three months ended September 30, 2006. In addition, such statements could be affected by general industry and market conditions and growth rates Growth Rates The compounded annualized rate of growth of a company's revenues, earnings, dividends, or other figures. Notes: Remember, historically high growth rates don't always mean a high rate of growth looking into the future. , and general domestic economic conditions. Such forward-looking statements speak only as of the date on which they are made and the company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this release. |
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