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Meadow Valley Corp.(Nasdaq:MVCO) today reported a second quarter net income from continuing operations of $.15 per share on a 43 percent increase in revenue to $46.3 million. MVCO is a Phoenix based contractor specializing in concrete highway bridges and overpasses, airport runways, and highway paving. MVCO is riding the Southwest economic boom and has a backlog of $265 million in contracts, mostly from a 6 year federal program to upgrade the nation's highways. Meadow Valley Corp. was recently featured in Marc Robins' Red Chip Highlights newsletter. Red Chip Highlights has given the stock an "A" rating and projects earnings of $.60 a share this year and $.83 a share for FY99. MVCO currently trades near $6.00/share
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