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Integrated Electrical Services Reports Fiscal 2013 Third Quarter Results

Integrated Electrical Services, Inc. (NASDAQ: IESC), an infrastructure services company with leading positions in a broad range of markets for electrical and communications products and services, today announced financial results for its fiscal 2013 third quarter.

THIRD QUARTER OF FISCAL 2013 HIGHLIGHTS

  • Operating cash flow of $2.6 million for the third quarter of 2013, an increase of $0.7 million from the third quarter of 2012
  • Adjusted EBITDA (a non-GAAP measure meaning earnings before interest, taxes, depreciation and amortization and other items; see reconciliation statement below) of $1.3 million, a decrease of $0.5 million from the third quarter of 2012
  • Net loss from continuing operations of ($0.7) million, or ($0.05) per share; adjusted net loss from continuing operations (a non-GAAP measure; see reconciliation statement below) of ($0.1) million, or ($0.01) per share
  • Backlog was approximately $194 million at June 30, 2013, a $12 million decrease from March 31, 2013

YEAR-TO-DATE FISCAL 2013 HIGHLIGHTS

  • Operating cash flow of $3.7 million for the year-to-date 2013, an increase of $9.6 million from the year-to-date 2012
  • Adjusted EBITDA (a non-GAAP measure meaning earnings before interest, taxes, depreciation and amortization and other items; see reconciliation statement below) of $6.5 million, an improvement of $3.3 million from the year-to-date 2012
  • Net loss from continuing operations of ($1.0) million, or ($0.07) per share; adjusted net income from continuing operations (a non-GAAP measure; see reconciliation statement below) of $3.0 million, or $0.20 per share

James Lindstrom, Chairman and Chief Executive Officer stated, "IES’ third quarter operating cash flow, backlog stability and gross margin expansion reflect improved performance across our divisions despite challenging market dynamics. Looking forward, we maintain a conservative outlook on our markets, while remaining confident in our ability to continue increasing our recurring revenue base, cash flow and margins through operating and bidding discipline and selective acquisitions over the long term.”

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