Internal financial controls broke down, inflating Granite Construction's initial financial performance report for 2019, and some staff and managers provided auditors investigating what had happened with "potentially misleading" information, the company said in its新发布的2019年度报告。
The wording of the Granite statement appears to open the door to further investigation for civil or criminal violations of securities law. The contractor,已经告知美国证券交易委员会的调查该机构说，该机构现在发布了与财务披露问题有关的传票。
总部位于加利福尼亚州沃森维尔的公司在重述2019年的业绩时报告说：“预测并不总是准备反映有关成本，项目风险和潜在索赔的最可能结果。新利18备用官网登录
此外，员工有时会提供内部和外部审计师“不完整且潜在的误导性信息”，这些信息在重型科维尔运营小组中“项目和预测”。新利18备用网址该公司表示，预测有时会反映出积极或乐观的预测，可实现的目标，管理指令或希望的效率。
In some cases, the company's auditors found that employees and management "knew or should have known" that forecasts and directives from management didn't comply with company policies and would have shown higher forecasted costs and project risks.
The company lost $90 million in 2019, on revenue of $3.4 billion, compared to net income of $600,000 in 2018. Project losses in Granite's heavy-civil operating unit were the biggest cause of a sharp decline in gross profit in 2019, the company reported.
在2019年和2018年，该公司现在指出，其重复运营集团的损失分别为1.387亿美元和5440万美元。
Going back almost two years, the tone of the Granite's financial reporting was brighter.
2019年4月，该公司在第一季度亏损了3400万美元，而2018年第一季度亏损的损失为寒冷和恶劣的天气。当时的首席执行官詹姆斯·罗伯茨（James Roberts）指出，积压的人正在增长，该公司正在微调其竞标和工作定价。
在新的报告中，花岗岩现在指出，由于存在物质弱点，因此它并未保持对财务报告和披露程序的有效内部控制。结果，它实施了“某些”人员和组织变革。
Class-action securities and stockholder lawsuits filed in 2019 and 2020 against Granite, traded as GVA on the NY Stock Exchange, still are pending.
