2019 BBNC Annual Report - Page 45

BRISTOL BAY NATIVE CORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS Years ended March 31, 2019, 2018 and 2017 (In thousands, except shares and per share data) 2019 2018 2017 REVENUES AND GAINS Industrial Services 981,197 867,764 764,541 Construction $ 403,666 473,397 440,208 Government Services 260,580 267,250 277,541 11,760 10,751 9,114 2,756 (734) (482) Tourism Equity in earnings (losses) Gain on sale of controlling interest in subsidiary 6,819 — — Investment earnings (notes 5 and 7) 8,659 28,693 25,271 11,753 10,677 6,904 1,824 1,547 2,084 1,689,014 1,659,345 1,525,181 956,205 872,822 767,941 Cost of Construction 397,363 450,564 415,116 Cost of Government Services 233,096 238,744 245,365 11,665 11,117 7,887 1,037 1,432 962 Natural Resources Other COSTS AND EXPENSES Cost of Industrial Services Cost of Tourism Cost of investment management Corporate general and administrative expense 17,509 23,385 19,266 Interest 1,707 1,885 1,714 Other 2,935 2,520 2,234 1,621,517 1,602,469 1,460,485 Earnings from operations 67,497 56,876 64,696 (14,010) 46,348 (23,564) 53,487 103,224 41,132 (339) (161) (111) $ 53,148 103,063 41,021 $ 98 191 76 540,100 540,100 540,100 Income tax benefit (expense) (note 13) NET EARNINGS Less income attributable to noncontrolling interest NET EARNINGS ATTRIBUTABLE TO BRISTOL BAY NATIVE CORPORATION Earnings per share Weighted average shares outstanding See accompanying notes to consolidated financial statements. M anagement ' s D iscussion and A nalysis 43