Quanta Services Profit Jumps

Earnings rise to 15 cents from 2 cents a year earlier.

Author:: TSC and IRIS Staff
Publish date:: Feb 24, 2006 7:55 AM EST

Quanta Services

said fourth-quarter earnings jumped 10-fold from a year ago thanks to a strong demand for its services on account of restoration work in the hurricane hit areas.

The Houston, Texas-based specialized contracting services company earned $18.5 million, or 15 cents a share compared with $1.8 million, or 2 cents a share, a year ago. Analysts surveyed by Thomson First Call were expecting earnings of seven cents a share in the recent quarter.

Fourth-quarter revenue rose 25% from a year ago to $523.5 million. Analysts were expecting revenue of $ 464.82 million.

The company expects to earn one cent to three cents a share on revenue of $440 million to $460 million for the first quarter. The analysts' estimates were five cents on revenue of $410.04 million.

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