This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

MYR Group Inc. Announces Third-Quarter And First Nine-Months 2010 Results


Unaudited Consolidated Selected Data, Net Income Per Share    
And EBITDA Reconciliation    
Three and Nine Months Ended September 30, 2009 and 2010    
  Three months ended Nine months ended
   September 30,   September 30, 
 (in thousands, except per share data)   2009   2010   2009   2010 
 Summary Data:         
 Contract revenues   $ 162,035  $ 152,767  $ 457,893  $ 441,941
 Gross profit   $ 20,715  $ 17,036  $ 56,525  $ 48,918
 Income from operations   $ 8,169  $ 6,207  $ 20,687  $ 16,756
 Net income   $ 5,769  $ 3,901  $ 12,967  $ 10,034
 Income per common share (1):         
- Basic   $ 0.29  $ 0.20  $ 0.66  $ 0.51
- Diluted   $ 0.28  $ 0.19  $ 0.63  $ 0.48
 Weighted average number of common shares         
 and potential common shares outstanding (1):         
- Basic   19,775  19,915  19,739  19,868
- Diluted   20,763  20,776  20,690  20,766
 Reconciliation of Net Income to EBITDA:         
 Net income   $ 5,769  $ 3,901  $ 12,967  $ 10,034
 Interest expense (income), net   181  384  448  772
 Provision for income taxes   2,151  1,891  7,093  5,836
 Depreciation and amortization   3,391  4,053  9,854  11,969
 EBITDA (2)   $ 11,492  $ 10,229  $ 30,362  $ 28,611
(1)  The Company calculates net income per common share in accordance with ASC 260, Earnings Per Share. Basic earnings per share are calculated by dividing net income by the weighted average number of shares outstanding for the reporting period. Diluted earnings per share are computed similarly, except that it reflects the potential dilutive impact that would occur if dilutive securities were exercised into common shares. Potential common shares are not included in the denominator of the diluted earnings per share calculation when inclusion of such shares would be anti-dilutive or included performance conditions that were not met.        
(2)  EBITDA is not recognized under GAAP and does not purport to be an alternative to net income as a measure of operating performance or to net cash flows provided by operating activities as a measure of liquidity.        
CONTACT:  MYR Group Inc. 
          Marco A. Martinez, Chief Financial Officer

          Dresner Corporate Services
          Investor Contact: 
          Philip Kranz

8 of 8

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • 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 Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs