EX-99.2 12 h36237exv99w2.htm MONTHLY OPERATING PAYMENT FOR THE MONTH ENDED MARCH 31, 2006 exv99w2
 

Exhibit 99.2
Monthly Operating Report
ACCRUAL BASIS
rwd, 1/05
         
CASE NAME: INTEGRATED ELECTRICAL SERVICES, INC., ET AL.    
 
        
CASE NUMBER:
  06-30602-BJH-11 Chapter 11    
 
        
JUDGE:
  HOUSER    
UNITED STATES BANKRUPTCY COURT
NORTHERN          DISTRICT OF TEXAS
DIVISION          6
MONTHLY OPERATING REPORT
MONTH ENDING: March 31, 2006
IN ACCORDANCE WITH TITLE 28, SECTION 1746, OF THE UNITED STATES CODE, I DECLARE UNDER PENALTY OF PERJURY THAT I HAVE EXAMINED THE FOLLOWING MONTHLY OPERATING REPORT (ACCRUAL BASIS-1 THROUGH ACCRUAL BASIS-7) AND THE ACCOMPANYING ATTACHMENTS AND, TO THE BEST OF MY KNOWLEDGE, THESE DOCUMENTS ARE TRUE, CORRECT AND COMPLETE. DECLARATION OF THE PREPARER (OTHER THAN RESPONSIBLE PARTY): IS BASED ON ALL INFORMATION OF WHICH PREPARER HAS ANY KNOWLEDGE.
     
RESPONSIBLE PARTY:
    
 
    
/s/ David A. Miller
  Senior Vice President & Chief Financial Officer
 
   
ORIGINAL SIGNATURE OF RESPONSIBLE PARTY
  TITLE
 
    
David A. Miller
  May 16, 2006
 
   
PRINTED NAME OF RESPONSIBLE PARTY
  DATE
 
    
PREPARER:
    
 
    
 
   
ORIGINAL SIGNATURE OF PREPARER
  TITLE
 
    
 
   
PRINTED NAME OF PREPARER
  DATE

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Monthly Operating Report
ACCRUAL BASIS-1
rwd, 1/05
LOCATION NAME: INTEGRATED ELECTRICAL SERVICES, INC., ET AL.
CASE NUMBER: 06-30602-BJH-11 Chapter 11
                                 
COMPARATIVE BALANCE SHEET        
      ALL DOLLAR AMOUNTS IN THOUSANDS  
    SCHEDULE     MONTH     MONTH     MONTH  
ASSETS   AMOUNT     February 2006     March 2006        
1. UNRESTRICTED CASH
             12,764       14,496          
2. RESTRICTED CASH
             20,000       20,060          
3. TOTAL CASH
   $ —     $ 32,764     $ 34,556     $ —  
4. ACCOUNTS RECEIVABLE (NET)
     0       168,646       163,397          
5. INVENTORY
             23,935       23,579          
6. NOTES RECEIVABLE
                     0          
7. PREPAID EXPENSES
             30,659       24,518          
8. OTHER (ATTACH LIST)
             69,740       66,930          
9. TOTAL CURRENT ASSETS
   $ —     $ 325,744     $ 312,980     $ —  
10. PROPERTY, PLANT & EQUIPMENT
             81,027       81,178          
11. LESS: ACCUMULATED DEPRECIATION / DEPLETION
             58,445       59,393          
12. NET PROPERTY, PLANT & EQUIPMENT
   $ —     $ 22,582     $ 21,785     $ —  
13. DUE FROM INSIDERS
             0       0          
14. OTHER ASSETS — NET OF AMORTIZATION (ATTACH LIST)
             24,343       24,343          
15. OTHER (ATTACH LIST)
             12,066       7,044          
16. TOTAL ASSETS
   $ —     $ 384,735     $ 366,152     $ —  
POSTPETITION LIABILITIES
                                
17. ACCOUNTS PAYABLE
             25,081       40,397          
18. TAXES PAYABLE
             2,394       3,968          
19. NOTES PAYABLE
             0       0          
20. PROFESSIONAL FEES
             1,250       1,519          
21. SECURED DEBT (1)
             0       0          
22. OTHER (ATTACH LIST)
             43,121       54,200          
23. TOTAL POSTPETITION LIABILITIES
   $ —     $ 71,846     $ 100,084     $ —  
PREPETITION LIABILITIES
                                
24. SECURED DEBT
             41       12          
25. PRIORITY DEBT (2)
             32,762       6,361          
26. UNSECURED DEBT
             257,425       258,418          
27. OTHER (ATTACH LIST)
             22,050       18,680          
28. TOTAL PREPETITION LIABILITIES
   $ —     $ 312,278     $ 283,471     $ —  
29. TOTAL LIABILITIES
   $ —     $ 384,124     $ 383,555     $ —  
EQUITY
                                
30. PREPETITION OWNERS’ EQUITY
           $ 6,014       6,034          
31. POSTPETITION CUMULATIVE PROFIT OR (LOSS)
             ($5,403 )     (23,437 )        
32. DIRECT CHARGES TO EQUITY (ATTACH EXPLANATION)
                                
33. TOTAL EQUITY
   $ —     $ 611     $ (17,403 )   $ —  
34. TOTAL LIABILITIES & OWNERS’ EQUITY
   $ —     $ 384,735     $ 366,152     $ —  
 
(1)   The court has authorized debtor-in-possession financing from each of Bank of America, Chubb, Suretec and IBCS. However, there are no outstanding funded borrowings as of February 28, 2006 and March 31, 2006.
 
(2)   Includes an esimate of outstanding funded priority claims attributable to goods received within 20 days of the petition date.

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Monthly Operating Report
ACCRUAL BASIS-1
rwd, 1/05
LOCATION NAME: INTEGRATED ELECTRICAL SERVICES, INC., ET AL.
CASE NUMBER: 06-30602-BJH-11 Chapter 11
                                 
COMPARATIVE BALANCE SHEET — Detail of "Other" Lines        
      ALL DOLLAR AMOUNTS IN THOUSANDS  
    SCHEDULE     MONTH     MONTH     MONTH  
ASSETS   AMOUNT     February 2006     March 2006        
OTHER ASSETS, Current- Line 8
                                
Retained Funds on Contracts
             40,295       41,377          
Contract Underbillings
             24,808       22,447          
Deferred Tax Asset, net of valuation allowance
             2,312       2,319          
Other Miscellaneous
             2,325       787          
Total Other Current Assets
   $ —     $ 69,740     $ 66,930     $ —  
OTHER ASSETS, Non-Current: Other Assets, Net of Amortization — Line 14                        
Goodwill
           $ 24,343     $ 24,343          
Total Other Non-Current Assets, Net of Amortization
   $ —     $ 24,343     $ 24,343     $ —  
OTHER ASSETS: Non-Current Other Assets — Line 15                        
Investments
           $ 3,562     $ 3,339          
Deferred Financing Costs
             4,915       884          
Long Term Notes Receivable
             1,969       1,985          
Deferred Tax Asset, net of valuation allowance
             1,332       1,332          
Miscellaneous
             288       (496 )        
Total Other Non-Current Assets
   $ —     $ 12,066     $ 7,044     $ —  

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Monthly Operating Report
ACCRUAL BASIS-1
rwd, 1/05
LOCATION NAME: INTEGRATED ELECTRICAL SERVICES, INC., ET AL.
CASE NUMBER: 06-30602-BJH-11 Chapter 11
                                 
COMPARATIVE BALANCE SHEET — Detail of "Other" Lines        
      ALL DOLLAR AMOUNTS IN THOUSANDS  
    SCHEDULE     MONTH     MONTH     MONTH  
LIABILITIES   AMOUNT     February 2006     March 2006        
OTHER LIABILITIES: Post-Petition — Line 22
                                
Accrued Compensation and Other Expenses
             20,833       28,894          
Contract Overbillings
             21,049       23,250          
Reserve for Contract Losses
             1,239       2,056          
Total Other Liabilities
   $ —     $ 43,121     $ 54,200     $ —  
OTHER LIABILITIES: Pre-Petition — Line 27
                                
Contract Overbillings
             6,149       3,148          
Reserve for Contract Losses
             382       134          
Deferred Tax Liabilities
             15,519       15,519          
Miscellaneous
                     (121 )        
Total Other Pre-Petition Liabilities
   $ —     $ 22,050     $ 18,680     $ —  

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Monthly Operating Report
ACCRUAL BASIS-2
rwd, 1/05
LOCATION NAME: INTEGRATED ELECTRICAL SERVICES, INC., ET AL.
CASE NUMBER: 06-30602-BJH-11 Chapter 11
                                 
INCOME STATEMENT   ALL DOLLAR AMOUNTS IN THOUSANDS  
    February 2006 (1)     March 2006 (2)     MONTH     QUARTER  
REVENUES                     TOTAL  
1.  GROSS REVENUES
     38,799       85,179               123,977  
2.  LESS: RETURNS & DISCOUNTS
     0       0               0  
3.  NET REVENUE
   $ 38,799     $ 85,179     $ —     $ 123,977  
COST OF GOODS SOLD
                                
4.  MATERIAL
     18,619       40,424               59,042  
5.  DIRECT LABOR
     8,826       24,201               33,027  
6.  DIRECT OVERHEAD
     6,144       12,756               18,899  
7.  TOTAL COST OF GOODS SOLD
   $ 33,588     $ 77,381             $ 110,969  
8.  GROSS PROFIT
   $ 5,211     $ 7,798     $ —     $ 13,009  
OPERATING EXPENSES
                                
9.  OFFICER / INSIDER COMPENSATION
     127       253               380  
10.  SELLING & MARKETING
     165       493               657  
11.  GENERAL & ADMINISTRATIVE
     4,967       11,597               16,564  
12.  RENT & LEASE
     425       743               1,168  
13.  OTHER (ATTACH LIST)
     0       0               0  
14.  TOTAL OPERATING EXPENSES
   $ 5,683     $ 13,086     $ —     $ 18,769  
15.  INCOME BEFORE NON-OPERATING INCOME & EXPENSE
   $ (473 )   $ (5,288 )   $ —     $ (5,760 )
OTHER INCOME & EXPENSES
                                
16.  NON-OPERATING INCOME (ATT. LIST)
     82       0               82  
17.  NON-OPERATING EXPENSE (ATT. LIST)
     10       0               10  
18.  INTEREST EXPENSE
     821       (122 )             699  
19.  DEPRECIATION / DEPLETION
     0       0               0  
20.  AMORTIZATION
     4,050       525               4,575  
21.  OTHER (ATTACH LIST)
     57       232               289  
22.  NET OTHER INCOME & EXPENSES
   $ 4,856     $ 635     $ —     $ 5,490  
REORGANIZATION EXPENSES
                                
23.  PROFESSIONAL FEES
     0       8,151               8,151  
24.  U.S. TRUSTEE FEES
     0       0               0  
25.  OTHER (ATTACH LIST)
     0       3,960               3,960  
26.  TOTAL REORGANIZATION EXPENSES
   $ —     $ 12,111     $ —     $ 12,111  
27.  INCOME TAX
     75       0               75  
28.  NET PROFIT (LOSS)
   $ (5,403 )   $ (18,034 )   $ —     $ (23,437 )
 
(1)   Amounts for February 2006 are estimated for the period from the petition date of February 14, 2006 through the end of the month on February 28, 2006 (half of the month).
 
(2)   Amounts for March 2006 include the entire month of March 2006

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Monthly Operating Report
ACCRUAL BASIS-2
rwd, 1/05
LOCATION NAME: INTEGRATED ELECTRICAL SERVICES, INC., ET AL.
CASE NUMBER: 06-30602-BJH-11 Chapter 11
                                 
INCOME STATEMENT   ALL DOLLAR AMOUNTS IN THOUSANDS  
    February 2006     March 2006     MONTH     QUARTER  
OTHER: Non-Operating Income Line 16                     TOTAL  
Third Party Interest Income
     74       0               0  
Miscellaneous
     8                       8  
 
                             0  
Total for Line 16
   $ 82     $ —     $ —     $ 82  
OTHER: Non-Operating Expense — Line 17
                                
Miscellaneous
     10       0               0  
 
                             0  
 
                             0  
Total for Line 17
   $ 10     $ —     $ —     $ 10  
OTHER: Income & Expense — Line 21
                                
(Gain)/Loss on Sales of Asset
     71       0               0  
Debt & Entertech Adjustments
             223                  
Other (Income) Expense
     (14 )     9               (5 )
 
                             0  
Total for Line 21
   $ 57     $ 232     $ —     $ 289  
REORGANIZATION EXPENSES — Line 25
                                
Non-cash write-off of debt issuance costs, debt discounts and premiums, and embedded derivative liabilities.
     0       3,960               3,960  
 
                                
Total for Line 25
   $ —     $ 3,960     $ —     $ 3,960  

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Monthly Operating Report
ACCRUAL BASIS-3
rwd, 1/05
LOCATION NAME: INTEGRATED ELECTRICAL SERVICES, INC., ET AL.
CASE NUMBER: 06-30602-BJH-11 Chapter 11
                                 
    ALL DOLLAR AMOUNTS IN THOUSANDS  
CASH RECEIPTS AND   MONTH     MONTH     MONTH     QUARTER  
DISBURSEMENTS   February 2006 (1)     March 2006 (1)           TOTAL  
1.  CASH — BEGINNING OF MONTH
   $ 39,842     $ 32,764             $ 39,842  
RECEIPTS FROM OPERATIONS
                                
2.  CASH SALES
     314       1,735               2,049  
COLLECTION OF ACCOUNTS RECEIVABLE
                                
3.  PREPETITION
     65,174       44,930               110,104  
4.  POSTPETITION
     16,050       44,545               60,595  
5.  TOTAL OPERATING RECEIPTS
   $ 81,538     $ 91,210     $ —     $ 172,748  
NON-OPERATING RECEIPTS
                                
6.  LOANS & ADVANCES (ATTACH LIST)
     120       30               150  
7.  SALE OF ASSETS
     6       42               48  
8.  OTHER (ATTACH LIST)
     (404 )     2,679               2,275  
9.  TOTAL NON-OPERATING RECEIPTS
   $ (278 )   $ 2,751     $ —     $ 2,473  
10.  TOTAL RECEIPTS
   $ 81,260     $ 93,961     $ —     $ 175,221  
11.  TOTAL CASH AVAILABLE
   $ 121,102     $ 126,725     $ —     $ 215,063  
OPERATING DISBURSEMENTS
                                
12.  NET PAYROLL
     19,944       21,523               41,467  
13.  PAYROLL TAXES PAID
     6,848       7,171               14,019  
14.  SALES, USE & OTHER TAXES PAID
     786       734               1,520  
15.  SECURED / RENTAL / LEASES
     1,219       888               2,107  
16.  UTILITIES
     257       445               702  
17.  INSURANCE
     1,555       1,327               2,882  
18.  INVENTORY PURCHASES
     32,260       21,728               53,988  
19.  VEHICLE EXPENSES
     1,214       1,258               2,472  
20.  TRAVEL
     195       285               480  
21.  ENTERTAINMENT
     149       193               342  
22.  REPAIRS & MAINTENANCE
     117       205               322  
23.  SUPPLIES
     511       314               825  
24.  ADVERTISING
     62       61               123  
25.  OTHER (ATTACH LIST)
     21,091       34,520               55,611  
26.  TOTAL OPERATING DISBURSEMENTS
   $ 86,208     $ 90,650     $ —     $ 176,858  
REORGANIZATION EXPENSES
                                
27.  PROFESSIONAL FEES
     2,130       1,519               3,649  
28.  U.S. TRUSTEE FEES
     0       0               0  
29.  OTHER (ATTACH LIST)
     0       0               0  
30.  TOTAL REORGANIZATION EXPENSES
   $ 2,130     $ 1,519     $ —     $ 3,649  
31.  TOTAL DISBURSEMENTS
   $ 88,338     $ 92,168     $ —     $ 180,507  
32.  NET CASH FLOW
   $ (7,078 )   $ 1,793     $ —     $ (5,286 )
33.  CASH — END OF MONTH
   $ 32,764     $ 34,556     $ —     $ 34,556  
 
(1)   Amounts represent the cash activity for the entire months of February and March 2006.

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Monthly Operating Report
ACCRUAL BASIS-3
rwd, 1/05
LOCATION NAME: INTEGRATED ELECTRICAL SERVICES, INC., ET AL.
CASE NUMBER: 06-30602-BJH-11 Chapter 11
                                 
CASH RECEIPTS & DISBURSEMENTS   ALL DOLLAR AMOUNTS IN THOUSANDS  
    February 2006     March 2006     MONTH     QUARTER  
OTHER: Operating Disbursements - Line 25                           TOTAL  
Direct and Indirect Job Cost
     11,070       24,561               35,631  
Subcontract Cost
     3,467       6,961               10,428  
Employee Related Costs
             340               340  
Bank Sweep Activity
             951               951  
Miscellaneous
     6,555       1,707               8,262  
Total for Line 16
   $ 21,091     $ 34,520     $ —     $ 55,611  

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Monthly Operating Report
ACCRUAL BASIS-4
rwd, 1/05
LOCATION NAME: INTEGRATED ELECTRICAL SERVICES, INC. ET AL.
CASE NUMBER: 06-30602-BJH-11 Chapter 11
                                 
    ALL DOLLAR AMOUNTS IN THOUSANDS  
    SCHEDULE     MONTH     MONTH     MONTH  
ACCOUNTS RECEIVABLE AGING   AMOUNT     FEBRUARY 2006     MARCH 2006          
1. 0-30
             101,707       98,840          
2. 31-60
             26,431       30,851          
3. 61-90
             12,321       11,820          
4. 91+
             31,492       26,205          
5. TOTAL ACCOUNTS RECEIVABLE
   $ —     $ 171,951     $ 167,716     $ —  
6. AMOUNT CONSIDERED UNCOLLECTIBLE
           $ 3,305     $ 4,319          
7. ACCOUNTS RECEIVABLE (NET)
   $ —     $ 168,646     $ 163,397     $ —  
                                         
AGING OF POSTPETITION TAXES AND PAYABLES     MONTH: MARCH 2006  
    0-30     31-60     61-90     91+        
TAXES PAYABLE   DAYS     DAYS     DAYS     DAYS     TOTAL  
1. FEDERAL
     1,464       109       19       0       1,592  
2. STATE
     1,516       39       100       0       1,656  
3. LOCAL
     708       2       3       0       713  
4. OTHER (ATTACH LIST)
     8       0       0       0       8  
5. TOTAL TAXES PAYABLE
   $ 3,696     $ 150     $ 122     $ —     $ 3,968  
 
     0       0       0       0       0  
6. ACCOUNTS PAYABLE
   $ 38,621     $ 1,453     $ 194     $ 60     $ 40,328  
                                 
STATUS OF POSTPETITION TAXES   MONTH: MARCH 2006  
    BEGINNING     AMOUNT             ENDING  
    TAX     WITHHELD AND/     AMOUNT     TAX  
FEDERAL   LIABILITY*     OR ACCRUED     PAID     LIABILITY  
1. WITHHOLDING**
     297       2,709       2,249       756  
2. FICA-EMPLOYEE**
     208       1,962       1,909       261  
3. FICA-EMPLOYER**
     263       1,952       1,906       309  
4. UNEMPLOYMENT
     183       102       25       260  
5. INCOME
     0       14       14       0  
6. OTHER (ATTACH LIST)
     0       8       2       6  
7. TOTAL FEDERAL TAXES
   $ 951     $ 6,747     $ 6,106     $ 1,592  
STATE AND LOCAL
                                
8. WITHHOLDING
     115       507       417       205  
9. SALES
     573       762       658       677  
10. EXCISE
     0       0       0       0  
11. UNEMPLOYMENT
     598       426       0       1,024  
12. REAL PROPERTY
     69       96       0       165  
13. PERSONAL PROPERTY
     52       69       25       96  
14. OTHER (ATTACH LIST)
     36       200       27       209  
15. TOTAL STATE & LOCAL
   $ 1,443     $ 2,059     $ 1,127     $ 2,376  
16. TOTAL TAXES
   $ 2,394     $ 8,806     $ 7,232     $ 3,968  
 
*   The beginning tax liability should represent the liability from the prior month or, if this is the first operating report, the amount should be zero.
 
**   Attach photocopies of IRS Form 6123 or your FTD coupon and payment receipt to verify payment or deposit.

9 of 16

 

Monthly Operating Report
ACCRUAL BASIS-5
rwd, 1/05
LOCATION NAME: INTEGRATED ELECTRICAL SERVICES, INC. ET AL.
CASE NUMBER: 06-30602-BJH-11 Chapter 11
The debtor in possession must complete the reconciliation below for each bank account, including all general, payroll and tax accounts, as well as all savings and investment accounts, money market accounts, certificates of deposit, government obligations, etc. Accounts with restricted funds should be identified by placing an asterisk next to the account number. Attach additional sheets if necessary.
                                 
    MONTH: MARCH 2006  
BANK RECONCILIATIONS                        
    Account #1     Account #2     Account #3        
A. BANK:   Summary        
B. ACCOUNT NUMBER:   See Attached Schedule     TOTAL  
C. PURPOSE (TYPE):   IES Corporate     IES Subsidiaries                  
1. BALANCE PER BANK STATEMENT
   $ 9,526     not available           $ 9,526  
2. ADD: TOTAL DEPOSITS NOT CREDITED
     0     not available             0  
3. SUBTRACT: OUTSTANDING CHECKS
     1,552     not available             1,552  
4. OTHER RECONCILING ITEMS
     408     not available             408  
5. MONTH END BALANCE PER BOOKS
   $ 8,382     $ (2,615 )   $ —     $ 5,767  
6. NUMBER OF LAST CHECK WRITTEN
                                
                             
INVESTMENT ACCOUNTS                      
    DATE OF     TYPE OF   PURCHASE     CURRENT  
BANK, ACCOUNT NAME & NUMBER   PURCHASE     INSTRUMENT   PRICE     VALUE  
7. Bank of America, 220-08522-1-4 EDW
     2/2/2006     Money Market     17       17  
8. Bank of America, 249-00506-1-0 EDW*
     2/3/2006     Money Market     20,000       20,000  
9. Bank of America, 249-00506-1-0 EDW*
     3/1/2006     Money Market     60       60  
10. Bank of America, Liquidity Management Account, 3756665754
     3/17/2006     Columbia Treasury Reserves     1,260       1,260  
11 Bank of America, Liquidity Management Account, 3756665754
     3/20/2006     Columbia Treasury Reserves     324       324  
12 Bank of America, Liquidity Management Account, 3756665754
     3/21/2006     Columbia Treasury Reserves     578       578  
13 Bank of America, Liquidity Management Account, 3756665754
     3/23/2006     Columbia Treasury Reserves     1,502       1,502  
14 Bank of America, Liquidity Management Account, 3756665754
     3/27/2006     Columbia Treasury Reserves     1,897       1,897  
15 Bank of America, Liquidity Management Account, 3756665754
     3/28/2006     Columbia Treasury Reserves     2,559       2,559  
16 Bank of America, Liquidity Management Account, 3756665754
     3/31/2006     Columbia Treasury Reserves     490       490  
17 TOTAL INVESTMENTS
               $ 28,687     $ 28,687  
         
CASH        
18 CURRENCY ON HAND / DEPOSIT IN TRANSIT
     102  
 
        
19 TOTAL CASH — END OF MONTH
   $ 34,556  

10 of 16

 

Monthly Operating Report
ACCRUAL BASIS-5
rwd, 1/05
LOCATION NAME: INTEGRATED ELECTRICAL SERVICES, INC. ET AL.
CASE NUMBER: 06-30602-BJH-11 Chapter 11
                                                                                                 
BANK RECONCILIATIONS - ACCOUNTS 1 - 11                                                                        
    Account #1     Account #2     Account #3     Account #4     Account #5     Account #6     Account #7     Account #8     Account #9     Account #10     Account #11        
A. BANK:   Bank of America     Bank of America     Bank of America     Bank of America     Bank of America     First American     First American     Amegy     Wells Fargo     Regions Bank     LaSalle        
B. ACCOUNT NUMBER:   0013-9000-0887     0013-9001-2079     375-666-2809     375-666-5754     0013-9006-4292     331-276-202     335-519-729     316-474     494-507-3211     78-8700-0154     5800384397        
C. PURPOSE (TYPE):   Master Concentration     A/P Account     Business Capital     Operating Acct     BCBSTX Benefit     Master Concentration     P/R Tax Escrow     Master Concentration     Master Concentration     Master Concentration     Master Concentration     Total  
1. BALANCE PER BANK STATEMENT
   $ —     $ —     $ 5,950     $ 20     $ —     $ 350     $ 4,023     $ 568     $ 17     $ 118     $ 428     $ 11,474  
2. ADD: TOTAL DEPOSITS NOT CREDITED
     0       0                               0                                               0  
3. SUBTRACT: OUTSTANDING CHECKS
     0       0                               0                                               0  
4. OTHER RECONCILING ITEMS
     (275 )     1               1               99       (12 )                                     (186 )
5. MONTH END BALANCE PER BOOKS
   $ (275 )   $ 1     $ 5,950     $ 21     $ —     $ 449     $ 4,011     $ 568     $ 17     $ 118     $ 428     $ 11,288  
6. NUMBER OF LAST CHECK WRITTEN
     n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a       n/a  
                                                                                                 
BANK RECONCILIATIONS - ACCOUNTS 12 - 22                                                                        
    Account #12     Account #13     Account #14     Account #15     Account #16     Account #17     Account #18     Account #19     Account #20     Account #21     Account #22        
A. BANK:   JP Morgan Chase     Wachovia     US Bank     JP Morgan Chase     Bank of America     JP Morgan Chase     JPM Chase     Bank of America     Bank of America     Bank of America                
B. ACCOUNT NUMBER:   601-854-714     2000-0140-45185     4346-84-7728     323-297-692     139-000-0890     601-854-698     601-854-706     442-620-1256     0013-9000-0900     0013-9001-2066                
C. PURPOSE (TYPE):   A/P     Master Concentration     Master Concentration     Master Concentration     A/P (Closed)     A/P Account (ZBA)     A/P Account (ZBA)     Payroll (ZBA)     Payroll (ZBA)     A/P Account (ZBA)             Total  
1. BALANCE PER BANK STATEMENT
   $ —     $ 842     $ 747     $ 101     $ —     $ —     $ —     $ —     $ —     $ —             $ 1,690  
2. ADD: TOTAL DEPOSITS NOT CREDITED
     0                                       0                                               0  
3. SUBTRACT: OUTSTANDING CHECKS
     1,016                                       21       514               1                       1,552  
4. OTHER RECONCILING ITEMS
     603                               (10 )     8               (74 )     66       1               594  
5. MONTH END BALANCE PER BOOKS
   $ (413 )   $ 842     $ 747     $ 101     $ (10 )   $ (13 )   $ (514 )   $ (74 )   $ 65     $ 1             $ 732  
6. NUMBER OF LAST CHECK WRITTEN
     14334       n/a       n/a       n/a       n/a       7,243       3,310       n/a       n/a       n/a       n/a       n/a  
         
BANK RECONCILIATIONS - ALL ACCOUNTS   TOTAL  
A. BANK:        
B. ACCOUNT NUMBER:        
C. PURPOSE (TYPE):        
1. BALANCE PER BANK STATEMENT
   $ 13,164  
2. ADD: TOTAL DEPOSITS NOT CREDITED
     0  
3. SUBTRACT: OUTSTANDING CHECKS
     1,552  
4. OTHER RECONCILING ITEMS
     408  
5. MONTH END BALANCE PER BOOKS
   $ 12,020  
6. NUMBER OF LAST CHECK WRITTEN
 see support
                             
INVESTMENT ACCOUNTS                      
    DATE OF     TYPE OF   PURCHASE     CURRENT  
BANK, ACCOUNT NAME & NUMBER   PURCHASE     INSTRUMENT   PRICE     VALUE  
7.   Bank of America, 220-08522-1-4 EDW
     2/2/06     Money Market     17       17  
8.   Bank of America, 249-00506-1-0 EDW*
     2/3/06     Money Market     20,000       20,000  
9.   Bank of America, 249-00506-1-0 EDW*
     3/1/06     Money Market     60       60  
10. Bank of America, Liquidity Management Account, 3756665754
     3/17/06     Columbia Treasury Reserves     1,260       1,260  
11 Bank of America, Liquidity Management Account, 3756665754
     3/20/06     Columbia Treasury Reserves     324       324  
12 Bank of America, Liquidity Management Account, 3756665754
     3/21/06     Columbia Treasury Reserves     578       578  
13 Bank of America, Liquidity Management Account, 3756665754
     3/23/06     Columbia Treasury Reserves     1,502       1,502  
14 Bank of America, Liquidity Management Account, 3756665754
     3/27/06     Columbia Treasury Reserves     1,897       1,897  
15 Bank of America, Liquidity Management Account, 3756665754
     3/28/06     Columbia Treasury Reserves     2,559       2,559  
16 Bank of America, Liquidity Management Account, 3756665754
     3/31/06     Columbia Treasury Reserves     490       490  
17 TOTAL INVESTMENTS
               $ 28,687     $ 28,687  
         
CASH        
18 CURRENCY ON HAND / DEPOSIT IN TRANSIT
     102  
 
        
19 TOTAL CASH — END OF MONTH
   $ 40,809  

11 of 16

 

Monthly Operating Report
ACCRUAL BASIS-6
rwd, 1/05
LOCATION NAME: INTEGRATED ELECTRICAL SERVICES, INC., ET AL.
CASE NUMBER: 06-30602-BJH-11 Chapter 11
MONTH: MARCH 2006
PAYMENTS TO INSIDERS AND PROFESSIONALS
OF THE TOTAL DISBURSEMENTS SHOWN FOR THE MONTH, LIST THE AMOUNT PAID TO INSIDERS (AS DEFINED IN SECTION 101 (31) (A)-(F) OF THE U.S. BANKRUPTCY CODE) AND TO PROFESSIONALS. ALSO, FOR PAYMENTS TO INSIDERS, IDENTIFY THE TYPE OF COMPENSATION PAID (e.g. SALARY, BONUS, COMMISSIONS, INSURANCE, HOUSING ALLOWANCE, TRAVEL, CAR ALLOWANCE, ETC.). ATTACH ADDITIONAL SHEETS IF NECESSARY.
                         
SECTION 1 — PAYMENTS TO INSIDERS — CORPORATE TO COMPLETE  
        TYPE OF   AMOUNT     TOTAL PAID  
NAME   PAYMENT   PAID     TO DATE  
1.
   See attached schedule   Salary   $ 237     $ 355  
2.
   See attached schedule   Auto Allowance   $ 14     $ 20  
3.
   See attached schedule   Executive Disability   $ 0     $ 1  
4.
   See attached schedule   401 (k) Match   $ 3     $ 4  
5.
                        
6.
   TOTAL PAYMENTS TO INSIDERS       $ 253     $ 380  
                                         
SECTION 2 — PAYMENTS TO PROFESSIONALS — CORPORATE TO COMPLETE  
        DATE OF COURT                         TOTAL  
        ORDER AUTHORIZING     AMOUNT   AMOUNT     TOTAL PAID     INCURRED  
NAME   PAYMENT     APPROVED   PAID     TO DATE     & UNPAID *  
1.
   See attached schedule     03/13/06     see schedule   $ 585     $ 803     $ 2,105  
2.
                                        
3.
                                        
4.
                                        
5.
                                        
6.
   TOTAL PAYMENTS TO PROFESSIONALS           $—   $ 585     $ 803     $ 2,105  
 
*   INCLUDE ALL FEES INCURRED, BOTH APPROVED AND UNAPPROVED
SECTION 3 — POSTPETITION STATUS OF SECURED NOTES, LEASES PAYABLE AND ADEQUATE PROTECTION PAYMENTS
                             
        SCHEDULED     AMOUNTS        
        MONTHLY     PAID     TOTAL  
        PAYMENTS     DURING     UNPAID  
NAME OF CREDITOR   DUE     MONTH     POSTPETITION  
1.
   N/A - no schedule of liabilities for filing                        
2.
                            
3.
                            
4.
                            
5.
                            
6.
   TOTAL   $ —     $ —     $ —  

12 of 16

 

LOCATION NAME: INTEGRATED ELECTRICAL SERVICES, INC., ET AL.
CASE NUMBER: 06-30602-BJH-11 Chapter 11
Monthly Operating Report — Accrual Basis — Report 6 — Insider Payment Detail ($000’s)
                         
INSIDER1 PAYMENTS  
        TYPE OF   AMOUNT     TOTAL PAID  
NAME   PAYMENT   PAID     MTD  
1
   Cyrus B. Snyder   Salary   $ 20.8     $ 31.3  
 
   Cyrus B. Snyder   Auto Allowance   $ 1.5     $ 2.3  
2
   Richard C. Humphrey   Salary   $ 25.0     $ 37.5  
 
   Richard C. Humphrey   Auto Allowance   $ 1.5     $ 2.3  
 
   Richard C. Humphrey   Executive Disability   $ 0.3     $ 0.4  
 
   Richard C. Humphrey   401(k) Match   $ 0.4     $ 0.6  
3
   David A. Miller   Salary   $ 22.9     $ 34.4  
 
   David A. Miller   Auto Allowance   $ 1.5     $ 2.3  
 
   David A. Miller   Executive Disability   $ 0.2     $ 0.3  
 
   David A. Miller   401(k) Match   $ 0.3     $ 0.5  
4
   Curtlon L. Warnock   Salary   $ 18.8     $ 28.1  
 
   Curtlon L. Warnock   Auto Allowance   $ 1.5     $ 2.3  
 
   Curtlon L. Warnock   401(k) Match   $ 0.3     $ 0.5  
5
   Robert B. Callahan   Salary   $ 14.6     $ 21.9  
 
   Robert B. Callahan   Auto Allowance   $ 1.5     $ 2.3  
6
   Robert L. Wilson   Salary   $ 20.8     $ 31.3  
 
   Robert L. Wilson   Auto Allowance   $ 1.5     $ 2.3  
 
   Robert L. Wilson   401(k) Match   $ 0.2     $ 0.3  
7
   Michael Bertoldi   Salary   $ 18.8     $ 28.1  
 
   Michael Bertoldi   Auto Allowance   $ 1.5     $ 2.3  
 
   Michael Bertoldi   401(k) Match   $ 0.3     $ 0.5  
8
   Johnny Menninga   Salary   $ 18.8     $ 28.1  
 
   Johnny Menninga   Auto Allowance   $ 1.5     $ 2.3  
 
   Johnny Menninga   401(k) Match   $ 0.4     $ 0.7  
9
   Glenn Schaefer   Salary   $ 20.8     $ 31.3  
 
   Glenn Schaefer   Auto Allowance   $ 1.5     $ 2.3  
 
   Glenn Schaefer   401(k) Match   $ 0.3     $ 0.5  
10
   Robert Lewey   Salary   $ 14.2     $ 21.2  
 
   Robert Lewey   401(k) Match   $ 0.2     $ 0.3  
11
   Jefford Dixon   Salary   $ 13.3     $ 20.0  
 
   Jefford Dixon   401(k) Match   $ 0.2     $ 0.3  
12
   Gregory Upham   Salary   $ 14.2     $ 21.2  
13
   Philip deLoache   Salary   $ 13.8     $ 20.6  
    TOTAL PAYMENTS TO INSIDERS   $ 253.3     $ 379.9  
 
                        
1.
   Total   Salary   $ 236.7     $ 355.0  
2.
   Total   Auto Allowance   $ 13.5     $ 20.3  
3.
   Total   Executive Disability   $ 0.5     $ 0.7  
4.
   Total   401(k) Match   $ 2.6     $ 4.0  
5.
                        
6.   TOTAL PAYMENTS TO INSIDERS   $ 253.3     $ 379.9  
 
1   Defined as Officer and Directors of Integrated Electrical Services, Inc.

13 of 16

 

LOCATION NAME: INTEGRATED ELECTRICAL SERVICES, INC., ET AL.
CASE NUMBER: 06-30602-BJH-11 Chapter 11
Monthly Operating Report — Accrual Basis — Report 6 — Payments to Professionals ($000’s)
                                     
PROFESSIONALS  
        DATE OF COURT                       TOTAL  
        ORDER AUTHORIZING   AMOUNT   AMOUNT     TOTAL PAID     INCURRED  
NAME   PAYMENT   APPROVED   PAID **     TO DATE **     & UNPAID *  
1.
   Vinson & Elkins   3/13/2006   80% of billed     307       510       598  
2.
   Glass   3/13/2006   No preset limit     178       178       0  
3.
   Gordian   3/13/2006   80% of billed     100       100       0  
4.
   Financial Balloting Group   3/13/2006   No preset limit     0       15       0  
5.
   Weil Gotshal   3/13/2006   80% of billed     0       0       925  
6.
   Conway Del Genio   3/13/2006   80% of billed     0       0       0  
7
   Jenner & Block   3/13/2006   80% of billed     0       0       450  
8
   Guiliani Capital   3/13/2006   80% of billed     0       0       132  
 
                              
 
   TOTAL PAYMENTS TO PROFESSIONALS       $—   $ 585     $ 803     $ 2,105  
 
*   INCLUDE ALL FEES INCURRED, BOTH APPROVED AND UNAPPROVED
 
**   NO PAYMENTS MADE BETWEEN FEBRUARY 14-28, COURT APPROVAL AUTHORIZING PAYMENT NOT RECEIVED UNTIL 03/13/06.
THE ONLY EXCEPTION WAS FOR FINANCIAL BALLOTING GROUP IN WHICH LEGAL ADVISED & APPROVED PAYMENT.

14 of 16

 

Monthly Operating Report
ACCRUAL BASIS-7
rwd, 1/05
LOCATION NAME: INTEGRATED ELECTRICAL SERVICES, INC., ET AL.
CASE NUMBER: 06-30602-BJH-11 Chapter 11
MONTH: MARCH 31, 2006
QUESTIONNAIRE
             
        YES   NO
 
1.
  HAVE ANY ASSETS BEEN SOLD OR TRANSFERRED OUTSIDE THE NORMAL COURSE OF BUSINESS THIS REPORTING PERIOD?       X
2.
  HAVE ANY FUNDS BEEN DISBURSED FROM ANY ACCOUNT OTHER THAN A DEBTOR IN POSSESSION ACCOUNT?       X
3.
  ARE ANY POSTPETITION RECEIVABLES (ACCOUNTS, NOTES, OR LOANS) DUE FROM RELATED PARTIES?       X
4.
  HAVE ANY PAYMENTS BEEN MADE ON PREPETITION LIABILITIES THIS REPORTING PERIOD?   X    
5.
  HAVE ANY POSTPETITION LOANS BEEN RECEIVED BY THE DEBTOR FROM ANY PARTY?       X
6.
  ARE ANY POSTPETITION PAYROLL TAXES PAST DUE?       X
7.
  ARE ANY POSTPETITION STATE OR FEDERAL INCOME TAXES PAST DUE?       X
8.
  ARE ANY POSTPETITION REAL ESTATE TAXES PAST DUE?       X
9.
  ARE ANY OTHER POSTPETITION TAXES PAST DUE?       X
10.
  ARE ANY AMOUNTS OWED TO POSTPETITION CREDITORS DELINQUENT?       X
11.
  HAVE ANY PREPETITION TAXES BEEN PAID DURING THE REPORTING PERIOD?   X    
12.
  ARE ANY WAGE PAYMENTS PAST DUE?       X
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS “YES,” PROVIDE A DETAILED EXPLANATION OF EACH ITEM. ATTACH ADDITIONAL SHEETS IF NECESSARY.
2. All disbursements are made from accounts which are part of the court approved cash management system.
 
4. The Company filed a motion with the bankruptcy court seeking authority to pay all undisputed pre-petition trade vendor claims in the ordinary course of business (the “Trade Vendor Motion”). The court approved this motion on February 15, 2006. Any payments made on pre-petition liabilities in this reporting period were under ordinary course of business.
 
5. While there is no funded debt outstanding as of March 31, 2006, the court has approved financing agreements with Bank of America, Chubb, Suretec and IBCS.
 
11. The company filed a motion with the court on February 14, 2006 seeking authority to pay pre-petition taxes in the ordinary course of business. The court approved this motion on February 15, 2006.
             
        YES   NO
 
1.
  ARE WORKER’S COMPENSATION, GENERAL LIABILITY AND OTHER NECESSARY INSURANCE COVERAGES IN EFFECT?   X    
2.
  ARE ALL PREMIUM PAYMENTS PAID CURRENT?   X    
3.
  PLEASE ITEMIZE POLICIES BELOW.        
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS “NO,” OR IF ANY POLICIES HAVE BEEN CANCELLED OR NOT RENEWED DURING THIS REPORTING PERIOD, PROVIDE AN EXPLANATION BELOW. ATTACH ADDITIONAL SHEETS IF NECESSARY.
             
INSTALLMENT PAYMENTS
TYPE OF           PAYMENT AMOUNT
POLICY   CARRIER   PERIOD COVERED   & FREQUENCY
 
See Attached Schedule
            

15 of 16

 

Monthly Operating Report
ACCRUAL BASIS-7
rwd, 1/05
LOCATION NAME: INTEGRATED ELECTRICAL SERVICES, INC.,ET AL.
CASE NUMBER: 06-30602-BJH-11 Chapter 11
MONTH: MARCH 31, 2006
                         
INSTALLMENT PAYMENTS
TYPE OF               PAYMENT AMOUNT
POLICY   CARRIER   PERIOD COVERED   & FREQUENCY ($000's)
 
Workers Compensation-Deductible (All States except Monopolistic States and OR, AZ, NJ & CA)
  American Casualty Co — E.L. Limit $1MM   11/01/05   11/01/06   $ 115.84     MONTHLY
Workers Compensation-Deductible (All States except Monopolistic States and OR, AZ, NJ & CA)
  American Casualty Co — Surcharges/Fees   11/01/05   11/01/06   $ 1.38     MONTHLY
Workers Compensation-Deductible (All States except Monopolistic States and OR, AZ, NJ & CA)
  American Casualty Co — Terrorism   11/01/05   11/01/06   $ 5.77     MONTHLY
Workers Compensation-CA
  American Casualty Co — E.L. Limit $1MM   11/01/05   11/01/06   $ 4.59     MONTHLY
Workers Compensation-CA
  American Casualty Co — Surcharges/Fees   11/01/05   11/01/06   $ 0.38     MONTHLY
Workers Compensation-CA
  American Casualty Co — Terrorism   11/01/05   11/01/06   $ 0.23     MONTHLY
Workers Compensation-Retro
OR, AZ, NJ
  Transportation Ins Co — E.L. Limit $1MM   11/01/05   11/01/06   $ 5.12     MONTHLY
Workers Compensation-Retro
OR, AZ, NJ
  Transportation Ins Co -
Surcharges/Fees 		  11/01/05   11/01/06   $ 0.17     MONTHLY
Workers Compensation-Retro
OR, AZ, NJ
  Transportation Ins Co — Terrorism   11/01/05   11/01/06   $ 0.35     MONTHLY
Stop Gap Liability
  Transportation Ins Co   11/01/05   11/01/06   $ 0.01     MONTHLY
Business Auto
  Continental Casualty — $1MM CSL   11/01/05   11/01/06   $ 56.42     MONTHLY
Business Auto
  Continental Casualty — Terrorism   11/01/05   11/01/06   $ 0.06     MONTHLY
General Liability
  Interstate Fire & Casualty — $1MM / $2MM / $10MM   11/01/05   11/01/06   $ 94.00     MONTHLY
General Liability
  Interstate Fire & Casualty — Terrorism   11/01/05   11/01/06   $ 3.76     MONTHLY
General Liability
  Interstate Fire & Casualty — State Tax & Stamping Fee   11/01/05   11/01/06   $ 4.84     MONTHLY
Umbrella Liability
  RSUI Indemnity Co — Primary $25MM   11/01/05   11/01/06   $ 97.25     MONTHLY
Umbrella Liability
  RSUI Indemnity Co — Terrorism   11/01/05   11/01/06   $ 2.08     MONTHLY
Umbrella Liability
  American Guarantee — Next $25MM   11/01/05   11/01/06   $ 22.92     MONTHLY
Umbrella Liability
  American Guarantee — Terrorism   11/01/05   11/01/06   $ 0.23     MONTHLY
Umbrella Liability
  Westchester Fire   11/01/05   11/01/06   $ 10.00     MONTHLY
Umbrella Liability
  Great American — Next $25MM   11/01/05   11/01/06   $ 8.33     MONTHLY
Umbrella Liability
  Great American — Terrorism   11/01/05   11/01/06   $ 0.08     MONTHLY
Employment Practices
Liability (EPL)
  National Union Fire   11/01/05   11/01/06   $ 15.22     MONTHLY
Crime
  Federal Insurance Co   11/01/05   11/01/06   $ 9.17     MONTHLY
Fiduciary
  St. Paul Mercury   11/01/05   11/01/06   $ 1.29     MONTHLY
Inland Marine Package
  National Fire Ins Hartford   11/01/05   11/01/06   $ 23.37     MONTHLY
Loss Control Services
  Bowen, Miclette & Britt   11/01/05   11/01/06   $ 12.25     MONTHLY
Agency Fee
  Bowen, Miclette & Britt   11/01/05   11/01/06   $ 41.35     MONTHLY
Property
  Travelers Property & Cas   12/15/05   12/15/06   $ 18.00     MONTHLY
Boiler & Machinery
  Continental Casualty   12/15/05   12/15/06   $ 0.06     MONTHLY
Directors & Officers Liability
  XL Specialty Ins Co   12/15/05   03/01/07   $ 57.26     MONTHLY
Directors & Officers Liability
  American Cas of Reading   12/15/05   03/01/07   $ 22.67     MONTHLY
Directors & Officers Liability
  Platte River Ins Co   12/15/05   03/01/07   $ 14.41     MONTHLY
Directors & Officers Liability
  RSUI Indemnity   12/15/05   03/01/07   $ 12.58     MONTHLY
Directors & Officers Liability
  St. Paul Mercury Ins Co   12/15/05   03/01/07   $ 6.44     MONTHLY
Aviation — Primary
  U. S. Specialty   01/29/06   01/29/07   $ 0.25     MONTHLY
Kidnap & Ransom/Extortion
  National Union Fire   04/21/03   04/21/06   $ 1.20     MONTHLY
Foreign Package
  Ins Co of the State of PA   06/17/05   06/17/06   $ 0.50     MONTHLY

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