0000943374-11-000701.txt : 20111222 0000943374-11-000701.hdr.sgml : 20111222 20111222111231 ACCESSION NUMBER: 0000943374-11-000701 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20111222 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20111222 DATE AS OF CHANGE: 20111222 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: 111276366 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_122211.htm FORM 8-K form8k_122211.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): December 21, 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)                                                                                                                                           (Zip Code)

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

Not Applicable
(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 (see General Instruction A.2. below):

[  ]  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 December 21, 2011, Energy Services of America Corporation issued a press release announcing its financial results for the three months and year ended September 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 December 21, 2011
   





 
 

 



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:  December 22, 2011
By:  Edsel R. Burns                                                     
 
        Edsel R. Burns
 
President and Chief Executive Officer




EX-99.1 2 ex99pressrelease122211.htm PRESS RELEASE ex99pressrelease122211.htm
Huntington, W. Va. – December  21, 2011
 
Energy Services of America Corporation Announces results for the three and  twelve months  ended  September  30, 2011.
 
 Energy Services of America (Amex: ESA) announced today that the company finished the year with a loss   for the three months ended  September  30, 2011  of ($1,126,834).     This brings the total loss for the year ended September 30, 2011 to ($5,275,770).   As stated in previous press releases this year, The year’s performance was greatly impacted by several  items.  First, we had a large project scheduled for 2011 that was delayed.  Also, we had record breaking rainfall which hampered the performance on a number of larger jobs that the Company  contracted to perform  in 2011.  Rainfall occurred on two larger jobs in over 50% of the days they were being performed.    This led to cost overruns which drastically reduced the margins. While well below the $3.6 million of earnings in the three months ended September 30, 2010,  the loss was better than of the loss  of ( $1,447,686) for the comparable period in 2009.  Likewise the loss for the 12 months ended September 30, 2011 was well below the  September 30, 2010 net income of $5,772,350  but  better than the  loss of ($5,921,774) for the same period in 2009.  Revenues were $143,426,097 for the twelve  months ended  September  30, 2011 versus $218,287,753 for the same period in 2010.
 
Marshall T. Reynolds, Chairman, noted that the project delays and severe rainfall  resulted in low performance for the year.  “We  have survived this year despite the project delays and severe impact of rainfall  at record levels but feel we are  seeing signs of a strong 2012.  Our Backlog currently is at $128.5 million compared to the 2010 backlog at year end of $47.8 million.     While our success at winning the contracts always determines the revenue we ultimately will generate, with the  large backlog and increased volume of work available, we are very excited about our prospects for 2012.”
 
Edsel R. Burns, President of ESA,  shared Mr. Reynold’s thoughts.  “We are disappointed at the 2011 performance but with the stronger backlog, increased work available, progress made internally to improve our  operating efficiencies and efforts made to mitigate the weather factors on our work load, we believe that the Company should perform very well in 2012 .  In addition, during 2011 we took actions that removed the equity overhang that resulted from the warrants we issued at the time we went  Public.  We believe that  we enter 2012 with a strong and clean balance sheet and we are well positioned to take advantage of the business opportunities that will arise during the next year.”  Key information at September 30, 2011 and for the three and twelve months ended  September 30, 2011 is as follows:
 

 

 

 
 

 
 

 

 

 

 
Energy Services of America Corporation
             
Key Financial Information
             
                         
                         
   
--------Three Months-------
   
--------Twelve Months-------------
 
   
Ended
   
Ended
   
Ended
   
Ended
 
   
September 30,
   
September 30,
   
September 30,
   
September 30,
 
   
2011
   
2010
   
2011
   
2010
 
                         
Revenues
  $ 49,653,640     $ 91,811,898     $ 143,426,097     $ 218,287,753  
                                 
Net Income (loss)
  $ (1,126,834 )   $ 3,629,182     $ (5,275,770 )   $ 5,772,350  
                                 
Earnings (loss) Per Share- Basic
  $ (0.09 )   $ 0.30     $ (0.44 )   $ 0.48  
                                 
Earnings (loss) Per Share-Diluted
  $ (0.09 )   $ 0.30     $ (0.44 )   $ 0.48  
                                 
Other Information at September 30, 2011:
                               
Shares Outstanding
    14,446,836                          
Total Assets
  $ 111,029,551                          
Total Liabilities
  $ 56,113,835                          
Total Equity
  $ 54,915,716                          
Stated Book Value per Share
  $ 3.80                          
Backlog at September  2011
  $ 128,500,000                          
-


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.