Willdan Reports Second Quarter 2010 Financial Results
Willdan Group, Inc. (“Willdan”) (NASDAQ:WLDN), today announced financial results for its second quarter ended July 2, 2010.
For the second quarter of 2010, Willdan reported total contract revenue of $20.4 million and net income of $1.3 million, or $0.17 per share.
Tom Brisbin, Willdan’s Chief Executive Officer, stated: “We’re pleased to report our second consecutive quarter of profitability in 2010. Our energy and homeland security services groups are doing well and have a favorable outlook for the future.
“Our traditional engineering group is now stable and breaking even. Our financial services group, which realized a decline in revenue, continued to be profitable. We believe that we have now turned the corner and that our diversified business model will position Willdan for continued profitable growth ahead.”Second Quarter 2010 Results For the second quarter of fiscal 2010, revenue was $20.4 million, up $4.9 million, or 31.6%, from revenue of $15.5 million for the comparable period last year. On a sequential basis, revenue was up $3.4 million, or 20.0%, from the first quarter of 2010. Income from operations was $1.3 million for the second quarter of fiscal 2010, as compared to a loss from operations of $1.4 million for the comparable period last year. On a sequential basis, income from operations was up $0.9 million, or 225.0%, from income from operations of $0.4 million for the first quarter of 2010. Net income was $1.3 million for the second quarter of fiscal 2010, as compared to a net loss of $0.9 million in the comparable period last year and net income of $0.4 million in the first quarter of 2010. Basic and diluted earnings per share for the second quarter of fiscal 2010 was $0.17 as compared to a loss per share of $0.12 for the comparable period last year.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV