EXHIBIT 20.3
GRANITE CONSTRUCTION INCORPORATED
REVENUE AND BACKLOG ANALYSIS
(DOLLARS IN THOUSANDS)
BY MARKET SECTOR
REVENUE BACKLOG
THREE MONTHS
ENDED JUNE 30, VARIANCE JUNE 30, VARIANCE
2003 2002 AMOUNT PERCENT 2003 2002 AMOUNT PERCENT
CONTRACTS
Federal $ 12,882 $ 14,182 $ (1,300) (9.2) $ 88,997 $ 41,095 $ 47,902 116.6
State 193,043 181,126 11,917 6.6 847,726 783,030 64,696 8.3
Local 142,557 126,673 15,884 12.5 817,399 649,104 168,295 25.9
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Total public sector 348,482 321,981 26,501 8.2 1,754,122 1,473,229 280,893 19.1
Private sector 54,917 75,345 (20,428) (27.1) 177,272 114,738 62,534 54.5
AGGREGATE SALES 66,006 61,684 4,322 7.0 -- -- -- --
-------- -------- -------- ---- ---------- ---------- -------- ----
$469,405 $459,010 $ 10,395 2.3 $1,931,394 $1,587,967 $343,427 21.6
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BY GEOGRAPHIC AREA
REVENUE BACKLOG
THREE MONTHS
ENDED JUNE 30, VARIANCE JUNE 30, VARIANCE
2003 2002 AMOUNT PERCENT 2003 2002 AMOUNT PERCENT
---- ---- ------ ------- ---- ---- ------ -------
CALIFORNIA $151,702 $190,140 $(38,438) (20.2) $ 296,469 $ 373,402 $ (76,933) (20.6)
WEST (EXCL. CA) 166,621 157,940 8,681 5.5 401,387 338,254 63,133 18.7
MIDWEST 14,830 18,831 (4,001) (21.2) 65,186 126,326 (61,140) (48.4)
NORTHEAST 42,139 26,439 15,700 59.4 426,987 243,302 183,685 75.5
SOUTH 94,113 65,660 28,453 43.3 741,365 506,683 234,682 46.3
-------- -------- -------- ---- ---------- ---------- --------- ----
$469,405 $459,010 $ 10,395 2.3 $1,931,394 $1,587,967 $ 343,427 21.6
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