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!

Pike Reports Record Full Year Core Revenue

Stocks in this article: PIKE

Pike Electric Corporation (NYSE: PIKE), one of the nation’s leading energy solutions providers, today reported fiscal fourth quarter and full year results for the period ended June 30, 2012. In the fourth quarter of fiscal year 2012, revenue totaled $178.6 million, an increase of 10% compared to $162.7 million in the year-ago period. Net income totaled $1.4 million, or $0.04 per diluted share, compared to $2.1 million, or $0.06 per diluted share, in the year-ago period.

Core services revenue increased for the fourth consecutive quarter to $171.0 million, up 40% compared to $122.0 million in the year-ago period. Strong year-over-year revenue growth rates were achieved in each of the Company’s core services, with distribution and other revenue up 46%, transmission revenue up 25%, and engineering and substation revenue up 35%. Storm restoration revenue totaled $7.6 million, compared to $40.7 million in the year-ago period. Last year’s heightened level of storm revenue was primarily associated with the massive tornadoes that tore through Alabama and Tennessee.

“The sustained growth in all areas of our engineering and construction business reflects improving demand trends across the U.S.,” said J. Eric Pike, Chairman and CEO of Pike. “The recent acquisition of UC Synergetic is expected to build upon this momentum in core energy solutions, will add to our storm response capabilities, and provides us with an engineering platform to serve the communications industry.”

Gross profit totaled $21.9 million in the fiscal fourth quarter 2012, or 12.3% of revenue. Gross profit totaled $23.2 million in the fiscal fourth quarter last year, or 14.2% of revenue. The higher gross margin in the year-ago period was attributable to the significant volume of storm restoration activity.

Fiscal year 2012 revenue totaled $685.2 million, an increase of 15% compared to $593.9 million in fiscal year 2011. Net income totaled $10.9 million, or $0.31 per diluted share, compared to $1.4 million, or $0.04 per diluted share in fiscal year 2011.

1 of 3

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