Plumbing and Mechanical

AMPAM Reports Decreased 2002 Revenues

May 1, 2003
American Plumbing & Mechanical reported a revenue decrease of $42.7 million to $538.5 million for ongoing operations in 2002 (several operations were shut down or discontinued late last year). Revenues were $581.2 million in 2001. Net loss for 2002 was $54.7 million, and gross profit declined $13 million to $86.2 million. These figures include an accounting charge from the first quarter. Fourth-quarter revenues from continuing operations decreased $1.8 million, and income dropped $11 million.