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Integrated Electrical Services Reports Fiscal 2012 Fourth Quarter And Year-End Results

“In fiscal 2013 our long term focus will remain on generating above average returns on a risk adjusted basis through disciplined capital deployment in our existing businesses or via acquisition.”

Robert Lewey, Chief Financial Officer, noted, “Our new three year $30 million credit facility completed during the fourth quarter and our levels of liquidity remain strong, which enable us to support the growth that we are expecting.”


We are focused on return on capital and cash flow to maximize long-term shareholder value. As a result, beginning in 2011, we increased our focus on a number of initiatives to return the Company to profitability through the “2011 Restructuring Plan”. Included in these initiatives was the closure or sale of a number of facilities within our Commercial & Industrial segment and one location in our Communications segment. We have substantially concluded the facility closures as of September 30, 2012. Results from operations of these facilities for the years ended September 30, 2012, 2011, and 2010 are presented in our Consolidated Statements of Operations as discontinued operations.


This press release includes certain financial measures that are not calculated in accordance with generally accepted accounting principles in the U.S. (“GAAP”). Management believes that these measures provide useful information to our investors by reflecting additional ways to view aspects of the Company’s operations that, when reconciled to the corresponding GAAP measures, help our investors to better identify underlying trends in our business and facilitate easier comparisons of our financial performance with prior and future periods and to our peers. Non-GAAP financial measures should not be considered in isolation from, or as a substitute for, financial information calculated in accordance with GAAP. Investors are encouraged to review the reconciliation of these non-GAAP measures to their most directly comparable GAAP financial measures. A reconciliation of the non-GAAP financial measures presented above to GAAP results has been provided in the financial tables included in this press release.

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