Granite Construction Inc. (NYSE:GVA) announced Q3 results that fell short of Street projections on both EPS and total revenues, hurt by delays in project awards. The company reported Q3 adjusted EPS of $0.38, up from $0.33 in Q3 2013 but missing analyst projections of $0.96. Total revenues of $719.76 million were down from $739.75 million in Q3 2013 and missed analyst projections of $906.93 million."A new long-term highway bill is essential to ensure longer term funding can meet the increasing demand for critical infrastructure projects across the country," said James H. Roberts, President and CEO of Granite Construction Inc. (NYSE:GVA) "We recently experienced delays in project awards and lettings. The delays were an unanticipated headwind in 2014, and will result in a benefit to our business in 2015, highlighting how swiftly current federal funding uncertainty impacts the timing of public sector work." The company's 2014 guidance has been updated with GVA now expecting consolidated revenues for 2014 at the bottom of the previously announced $2.4 to $2.8 billion range.Lannett Company, Inc. (NYSE:LCI) said the U.S. Food and Drug Administration has completed its cGMP compliance inspection of its Cody Laboratories unit and only reported one minor observation. Cody is a manufacturer of active pharmaceutical ingredients and finished dosage form products. The inspection commenced on Monday, October 27, 2014, and was completed on Thursday, October 30, 2014. "We are pleased to come through the FDA's thorough inspection with only one minor 483 observation,' said Arthur P. Bedrosian, president and chief executive officer of Lannett. It didn't say what the observation was. Lannett Company, Inc. (NYSE:LCI) shares recently traded at $57.00 with a 52-week range of $23.53 - $57.78.Haemonetics Corporation (NYSE:HAE), which provides blood management solutions, Monday reported a decrease in earnings for Q2 ended September 27, as orders in emerging markets were impacted by labeling changes, limiting disposables revenue growth in the combined growth drivers to 5%. Net earnings on a GAAP basis were $7.5 million, or $0.14 per diluted share, versus $16.5 million, or $0.32 per diluted share, a year earlier. On a non-GAAP basis, net income was $24.3 million, or $0.47 per diluted share, down from last year's $34.4 million, or $0.66 per diluted share, but slightly ahead of the Capital IQ consensus of $0.45. Revenues were $227.6 million, a decline from $235.8 million in the same period last year, missing $229.59 Street view. For fiscal year 2015, Haemonetics Corporation (NYSE:HAE) revenue is reaffirmed at a decline of 0-2%.
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