A replay of today's call will be available on Quanta's website at quantaservices.com. In addition, a telephonic recorded instant replay will be available for the next 7 days, 24 hours a day, that can be accessed as set forth in the press release.Please remember that information reported on this call speaks only as of today, February 22, 2012, and therefore, you're advised any time-sensitive information may no longer be accurate as of the time of any replay on this call. This conference call will include forward-looking statements intended to qualify under the Safe Harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements include all statements reflecting Quanta's expectations, intentions, assumptions or beliefs about future events or performance or that do not solely relate to historical or current facts. Forward-looking statements involve certain risks, uncertainties and assumptions that are difficult to predict or beyond Quanta's control, and actual results may differ materially from those expected or implied as forward-looking statements. Management cautions that you should not place undue reliance on Quanta's forward-looking statements. Quanta does not undertake any obligation to update any forward-looking statements to reflect events or circumstances after this call. For additional information concerning some of the risks, uncertainties and assumptions that could affect Quanta's forward-looking statements, please refer to the company's annual report on Form 10-K for the year ended December 31, 2010, its quarterly reports on Form 10-Q and its other documents filed with the Securities and Exchange Commission, which may be obtained on Quanta's website or through the SEC's website at sec.gov. Before I turn the call over to management, I wanted to remind the institutional investors and sell-side analysts on this call that we're hosting the Quanta Services 2012 Investor Day in New York City on March 7. Attendance of this event is limited to the institutional investment community. If you're an institutional investor or sell-side analyst and would like to attend our Investor Day, please contact me for registration information. For those that can't attend the meeting in person, we will be webcasting the event and will also be -- archived audio and other material available after the event on our website.
With that, I would like to now turn the call over to Mr. Jim O'Neil, Quanta's President and CEO. Jim?James Haddox Thanks, Jim, and good morning, everyone. Today, we announced revenues of $1.51 billion for the fourth quarter of 2011 compared to $1.11 billion in the prior year's fourth quarter, reflecting growth of 36.8% quarter-over-quarter. Net income attributable to common stock for the quarter was $66.3 million or $0.32 per diluted share. Included in net income attributable to common stock for the fourth quarter of 2011 is a $32.6 million charge to cost of services or $20.4 million net of tax related to a pension plan withdrawal liability. Also included in net income attributable to common stock for the fourth quarter of 2011 is $10.7 million of income from the release of income tax contingencies and settlements of certain tax audit. The net impact of these 2 items to the fourth quarter of 2011 resulted in a $0.04 reduction in diluted earnings per share. The growth in consolidated revenues in 4Q '11 was driven by strong growth in the Electric Power and Telecom Infrastructure Services segments, partially offset by a decrease in revenues from our Natural Gas and Pipeline Infrastructure Services segment. Contributing to our increased revenues in the fourth quarter of 2011 was the incremental contribution of approximately $52 million in revenues in the quarter from companies acquired since the beginning of 4Q 2010. Excluding revenues from these acquisitions, consolidated revenues would have grown 32% quarter-over-quarter. Our consolidated gross margin decreased from 14.4% in 4Q '10 to 13.3% in 4Q '11. This decrease was due to the impact of the previously mentioned $32.6 million pretax charge for pension plan withdrawal liability, which affected the Natural Gas and Pipeline Infrastructure Services segment. Consolidated gross margins without the effects of this charge were 15.4%, an increase of 100 basis points over 4Q of '10. Read the rest of this transcript for free on seekingalpha.com