KSW Reports 2011 Profits and Revenue
12 Mars 2012 - 1:00PM
Marketwired
KSW, Inc. (NASDAQ: KSW) today reported preliminary year-end
financial results for 2011.
Net income for 2011 was $1,550,000, or $.24 per share (basic and
diluted), compared to 2010 net income of $1,968,000, or $.31 per
share (basic and diluted). For the fourth quarter of 2011, net
income was $584,000 or $.09 per share (basic and diluted), compared
to $448,000, or $.07 per share (basic and diluted) for the fourth
quarter of 2010.
Revenue in 2011 was $69,281,000, compared to $76,294,000 in
2010. Revenue for the fourth quarter of 2011 was $19,132,000, an
increase of $1,855,000, or 10.7% from $17,277,000 in the fourth
quarter of 2010.
As of December 31, 2011, the Company's backlog was approximately
$86,300,000, as compared to $64,000,000 as of December 31,
2010.
Chairman of the Board Floyd Warkol commented: "We continue to
see an increase in activity in the private sector. We have been
asked to review a number of new projects, many of which are for
repeat customers who appreciate our Value Engineering services. We
will continue to pursue these opportunities, as well as
opportunities in the public sector, during 2012."
About KSW
KSW, Inc., through its totally-owned mechanical subsidiary KSW
Mechanical Services, Inc., furnishes and installs heating,
ventilating and air conditioning (HVAC) systems and process piping
systems for institutional, industrial, commercial, high-rise
residential and public works projects. KSW Mechanical Services,
Inc. also acts as trade manager on larger construction projects,
such as Mount Sinai Center for Science and Medicine.
Safe Harbor Statement
Certain statements contained in this press release are not
historical facts, and constitute "forward-looking statements" (as
such term is defined in the Private Securities Litigation Reform
Act of 1995). These forward looking statements generally can be
identified as statements that include phrases such as "believe,"
"expect," "anticipate," "intend," "plan," "foresee," "likely,"
"should," "will" or other similar words or phrases. Such
forward-looking statements concerning management's expectations and
other similar matters involve known and unknown risks,
uncertainties and other important factors that could cause the
actual results to differ materially from any future results,
performance or achievements discussed or implied by such
forward-looking statements. Such risks, uncertainties, and other
important factors that could cause actual results to differ
materially from expectations of the Company include, among others,
the outcome of the year-end audit, and further internal review of
the Company's historical financial statements. All written and oral
forward-looking statements of or attributable to the Company or
persons acting on behalf of the Company are qualified in their
entirety by such factors. The Company disclaims any obligation or
undertaking to provide any updates or revisions to any
forward-looking statement to reflect any change in the Company's
expectations or any change in events, conditions or circumstances
on which the forward-looking statement is based.
Visit our website at www.kswmechanical.com.
For More Information contact: James Oliviero KSW, Inc. (718)
340-1409 Email Contact
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