Goldfield (GV -15%) takes a hit today despite reporting solid FY12 results late yesterday. Net income increased in 2012 to $0.47 per share from $0.03 per share in FY11, while revenue came in at $81.6M in FY12, up from $32.8M the prior year. On the surface, these numbers may be encouraging, but Seeking Alpha contributor Sarah Tyler thinks thinks the company's declining backlog and over-reaching margins point to more difficult times ahead for the utility transmission and distribution contractor.
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