0000943374-11-000513.txt : 20110815 0000943374-11-000513.hdr.sgml : 20110815 20110815164754 ACCESSION NUMBER: 0000943374-11-000513 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20110812 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20110815 DATE AS OF CHANGE: 20110815 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Energy Services of America CORP CENTRAL INDEX KEY: 0001357971 STANDARD INDUSTRIAL CLASSIFICATION: WATER, SEWER, PIPELINE, COMM AND POWER LINE CONSTRUCTION [1623] IRS NUMBER: 204606266 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-32998 FILM NUMBER: 111037198 BUSINESS ADDRESS: STREET 1: 2450 FIRST AVENUE CITY: HUNTINGTON STATE: WV ZIP: 25703 BUSINESS PHONE: 304-528-2791 MAIL ADDRESS: STREET 1: 2450 FIRST AVENUE CITY: HUNTINGTON STATE: WV ZIP: 25703 FORMER COMPANY: FORMER CONFORMED NAME: Energy Services Acquisition Corp. DATE OF NAME CHANGE: 20060330 8-K 1 form8k_081511.htm FINANCIAL RESULTS form8k_081511.htm

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.  20549
 
————————————————
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):  August 12, 2011
 
 
Energy Services of America Corporation
 
(Exact name of Registrant as specified in its charter)

Delaware
(State or Other Jurisdiction
of Incorporation)
001-32998 (Commission
File Number)
20-4606266
(I.R.S. Employer
Identification No.)

100 Industrial Lane, Huntington, West Virginia 25702-9694
 (Address of principal executive offices)

(304) 399-6315
Registrant's telephone number, including area code


(Former Name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
 
¨
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
   
¨
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
   
¨
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act
(17 CFR 240.14d-2(b))
   
¨
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act
(17 CFR 240.13e-4(c))
   


 
 

 

Item 2.02
Results of Operations and Financial Condition

On August 12, 2011, Energy Services of America Corporation issued a press release announcing its financial results for the quarter and nine months ended June 30, 2011.  The press release is attached as Exhibit 99.1 to this report.

This information, including the press release filed as Exhibit 99.1, shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 nor shall it be deemed to be incorporated by reference in any filing under the Securities Act of 1933.

Item 9.01
Financial Statements and Exhibits

(a)
Financial Statements of businesses acquired.
 
Not Applicable.
 
(b)
Pro forma financial information.
 
Not Applicable.
 
(c)
Shell Company Transactions.
 
Not Applicable.
 
(d)
Exhibits.
 
 
The following Exhibit is attached as part of this report:
 
99.1           Press release of Energy Services of America Corporation dated August 12, 2011
   



 
 

 

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


 
ENERGY SERVICES OF AMERICA
CORPORATION
 
   
   
DATE: August 12, 2011
   By:  /s/ Edsel R. Burns 
 
Edsel R. Burns
 
President
 
(Duly Authorized Representative)
 




 







 
 
 

 
EXHIBIT INDEX
 

99.1                                Press Release dated August 12, 2011




EX-99.1 CHARTER 2 form8kexh_081511.htm PRESS RELEASE form8kexh_081511.htm

Huntington, W. Va. –August 12, 2011
 
Energy Services of America Corporation Announces results for the three months and nine months ended June 30, 2011.
 
Energy Services of America (Amex: ESA) announced today that for the quarter ended June 30, 2011, the Company experienced a net loss of ($725,884) compared to a net income of $4,098,413 for the three months ended June 30, 2010.  For the  nine months ended June 30, 2011, the Company’s year to date net loss totaled ($4,148,936) compared to a net income of $2,143,168 for the nine months ended June 30, 2010.
 
Marshall T. Reynolds, Chairman, discussed the performance for the quarter and nine months.  “Weather, which normally is not an issue for the Company during the third quarter, caused significant issues in the three months ended June 30, 2011.  In general, rainfall in the Mid Atlantic region for the calendar year has been 143% of the fifteen year average in areas where the Company is currently engaged in projects.  More specifically, on two of the larger projects the company had going for the quarter, the days of rain exceeded 50%.  Accordingly, our revenues are below expected levels and therefore our net income has been adversely affected.  We are hopeful that favorable weather during the quarter ending September 30, 2011 should improve revenue levels and therefore improve profitability as well.  Our Backlog at June 30, 2011 was $134.7 million which exceeded last year’s backlog of $87.7 million by $47 million (53.6%).  Further,   the volumes coming up for bid that we are aware of continue to be strong.  While our success at winning contracts always determines the revenue we ultimately will generate, with the increased volume of work available, we are very excited about our long term prospects.”
 
Edsel R. Burns, President of ESA, shared Mr. Reynolds’ thoughts.  “Demand for our services continues to be strong as evidenced by our backlog and projects coming up for bid.  However, inclement weather caused production delays and curtailed productivity which resulted in our revenues and profits for the first nine months coming in below our desired levels.  The Company continues to focus on improving our operating efficiencies and those efforts coupled with the anticipated continued strong demand for our services should result in successful long term performance.  We feel the Company is positioned to perform well into the future.  Key information at June 30, 2011 and for the three and nine months ended June 30, 2011 is as follows:
 

 
 

 


-
   
Energy Services of America Corporation
       
   
Key Financial Information
             
                         
   
Three Months
   
Three Months
   
Nine Months
   
Nine Months
 
   
Ended
   
Ended
   
Ended
   
Ended
 
   
June 30,
   
June 30,
   
June 30,
   
June 30,
 
   
2011
   
2010
   
2011
   
2010
 
Actual
                       
Revenues
  $ 46,035,147     $ 76,228,776     $ 93,772,457     $ 126,475,855  
Net Income (loss)
    (725,884 )     4,098,413       (4,148,936 )     2,143,168  
Earnings (loss) Per Share-Basic
  $ (0.06 )   $ 0.34     $ (0.34 )   $ 0.18  
Earnings (loss) Per Share-Diluted
  $ (0.06 )   $ 0.34     $ (0.34 )   $ 0.18  
                                 
                                 
Other information
                               
Shares Outstanding
    12,092,307                          
Total Assets
  $ 110,677,320                          
Total Liabilities
  $ 54,652,705                          
Total Equity
  $ 56,024,615                          
Stated Book Value per Share
  $ 4.63                          
Backlog at March 31 , 2010
  $ 134,700,000                          


Certain statements contained in the release, including without limitation statements including the words "believes," "anticipates," "intends," "expects" or words of similar import, constitute "forward-looking statements" within the meaning of section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements of the Company expressed or implied by such forward-looking statements. Such factors include, among others, general economic and business conditions, changes in business strategy or development plans and other factors referenced in this release. Given these uncertainties, prospective investors are cautioned not to place undue reliance on such forward-looking statements. The Company disclaims any obligation to update any such factors or to publicly announce the results of any revisions to any of the forward-looking statements contained herein to reflect future events or developments.