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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Integrated Electrical Services Reports Fiscal 2012 Third Quarter Results

Stocks in this article: IESC

Integrated Electrical Services, Inc. (NASDAQ: IESC) today announced financial results for its fiscal 2012 third quarter ended June 30, 2012 that reflect the Company’s continued progress on its overall plan to return to profitability.

THIRD QUARTER OF FISCAL 2012 HIGHLIGHTS

The following highlights include results based upon the Company’s ‘go forward’ operations. The Company uses the term ‘go forward’ to refer to the results for the quarter ended June 30, 2012, excluding the revenues and expenses attributable to the Company’s wind-down facilities, as described in detail below. On a year-over-year basis (unless otherwise noted), highlights for the third quarter of fiscal 2012 include:

  • Net loss of $3.2 million, or $(0.22) per share; adjusted net income of $0.3 million, or $0.02 per share, an improvement of $0.4 million
  • Revenue of $116.1 million; ‘go forward’ revenue of $104.3 million, an increase of 11.3%
  • Adjusted EBITDA (earnings (loss) before interest, taxes, depreciation and amortization and other items; see reconciliation statement below) of $ 1.3 million, an improvement of $0.1 million
  • Operating cash flow was positive $5.9 million over the prior twelve months as compared to negative $20.5 million of operating cash flow in the same period a year ago
  • Backlog was approximately $229 million at June 30, 2012, a $49 million increase from March 31, 2012 and a $59 million increase from September 30, 2011

James Lindstrom, Chairman and Chief Executive Officer, stated, “The employees of IES have delivered another quarter of revenue growth, profitability improvement and positive cash flow from operations. The strength of our business is also demonstrated by the significant growth in our backlog, which exceeded our internal expectations. Across IES, we look to continue this progress through employee accountability and empowerment, for the decisions our employees make ultimately benefit the customers, communities and shareholders we serve.”

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link 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

Jim Cramer's protégé, 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
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, 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!

Markets

DOW 17,659.92 -12.68 -0.07%
S&P 500 2,051.82 -11.33 -0.55%
NASDAQ 4,757.8790 +7.4820 0.16%

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