IES reports 11.5% sales increase in 4Q

Integrated Electrical Services, an infrastructure services company with positions in a wide range of electrical and communications products and services, has reported revenue of $123.4 million for the fourth quarter of 2012, an increase of 11.5% over 3Q.

For the quarter, the company reported a gross profit of $16.8 million, an improvement of $2.9 million compared to the fourth quarter of fiscal 2011. Gross margins for the quarter improved to 13.6% of revenue compared to 12.6% of revenue for the comparable quarter.

For the fiscal year, IES reported revenue of $456.1 million, an increase of 12.3%. IES did, however, report a net loss from continuing operations of $2.7 million or 0.18 per share. The company also reported a gross profit of $58.1 million, an improvement of $13.7 million; it also reported that gross margins for the fiscal year improved to 12.7% of revenue as compared to a gross margin of 10.9% of revenue.

James Lindstrom, chairman and chief executive officer, said IES was posed to continue with and build upon the operational improvements that started in the fourth quarter of 2011.

“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,” he said.

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