This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
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
TheStreet Open House

Aegion Corporation, Successor To Insituform Technologies, Inc., Reports Third Quarter 2011 Results:

Contract backlog in our European Sewer and Water Rehabilitation segment at September 30, 2011 decreased $3.0 million, or 13.5 percent, compared to June 30, 2011 and decreased $6.8 million, or 26.2 percent, compared to September 30, 2010. Backlog has improved in France, while market conditions and increased competition have negatively impacted backlog in the Netherlands.

       

Asia-Pacific Sewer and Water Rehabilitation Segment

Increase (Decrease)
(in thousands, except %) 2011     2010 $   %
Three Months Ended September 30,
Revenues $ 11,163 $ 9,215 $ 1,948 21.1 %
Gross profit 1,915 2,646 (731 ) (27.6 )
Gross margin

17.2

%

28.7 % n/a (11.5 )
Operating expenses 2,088 2,351 (263 ) (11.2 )
Restructuring charges 173 173 n/m
Operating income (loss)

(346

)

295 (641 ) (217.3 )
Operating margin

(3.1

)%

3.2 % n/a (6.3 )
 
Nine Months Ended September 30,
Revenues $ 35,103 $ 33,390 $ 1,713 5.1 %
Gross profit 5,970 7,727 (1,757 ) (22.7 )
Gross margin

17.0

%

23.1 % n/a (6.1 )
Operating expenses 6,662 7,384 (722 ) (9.8 )
Restructuring charges 173 173 n/m
Operating income (loss)

(865

)

343 (1,208 ) (352.2 )
Operating margin

(2.5

)%

1.0 % n/a (3.5 )
 
  September 30, 2011   June 30, 2011   March 31, 2011   December 31, 2010   September 30, 2010
Backlog (in millions) $37.4   $50.3   $68.7   $79.8   $81.3

In the third quarter of 2011, our Asia-Pacific Sewer and Water Rehabilitation segment operating income decreased by $0.6 million, compared to the third quarter of 2010. The decrease was primarily due to the lack of profitable projects in India, partially offset by continued growth in our Australian operation. Operating expenses decreased by $0.3 million for the quarter compared to the prior year; however, operating income was also negatively impacted by $0.2 million as part of the Company’s restructuring efforts.

7 of 11

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

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

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
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!
SYM TRADE IT LAST %CHG

Markets

DOW 18,008.64 +295.98 1.67%
S&P 500 2,086.50 +25.48 1.24%
NASDAQ 4,942.6680 +51.4490 1.05%

Partners Compare Online Brokers

Free Reports

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