EX-99.1 2 h34750a1exv99w1.htm CONSOLIDATED STANDARDS OF OPERATIONS exv99w1
 

Exhibit 99.1
INTEGRATED ELECTRICAL SERVICES, INC.
PRELIMINARY CONSOLIDATED STATEMENTS OF OPERATIONS(1)
(in thousands)
                         
    Month     Month     Two Months  
    Ended     Ended     Ended  
    31-Jan     28-Feb     28-Feb  
    (unaudited)     (unaudited)     (unaudited)  
 
                       
Revenues
  $ 82,429     $ 77,595     $ 160,024  
Cost of services
    71,687       67,167       138,854  
 
                 
 
                       
Gross profit
    10,742       10,428       21,170  
 
                       
Selling, general & administrative expenses
    11,509       11,370       22,879  
 
                 
 
                       
Income (loss) from operations
    (767 )     (942 )     (1,709 )
 
                       
Other (income) expense:
                       
Interest expense, net
    1,785       5,543       7,328  
Other (income) expense, net
    4       117       121  
 
                 
 
    1,789       5,660       7,449  
 
                       
Income (loss) before income taxes
    (2,556 )     (6,602 )     (9,158 )
Income tax expense (benefit)
    150       150       300  
 
                 
 
                       
Net income/(loss) from continuing operations
  $ (2,706 )   $ (6,752 )   $ (9,458 )
 
                       
Discontinued operations:
                       
 
                       
Income/(loss) from discontinued operations (including gain on disposal of $0)
    11       (4 )     7  
Income tax expense
                 
 
                 
Net income/(loss) from discontinued operations
    11       (4 )     7  
 
                 
 
                       
Net income (loss)
  $ (2,695 )   $ (6,756 )   $ (9,451 )
 
                 
 
(1)   Excludes certain capitalized costs incurred in connection with the Company’s debt restructuring.