Comfort Systems Merges Two Largest Companies; Reports 3Q Results
In other news, Comfort Systems CEO Bill Murdy announced a “steady progress” for the company, and reported net income at $175,000 for the quarter ended Sept. 30, 2003, as compared to $3.74 million in 2002. Net income of continuing operations was $3.42 million as compared to last year's $3.58 million.
The company reported revenues of $210.19 million, down roughly $2 million from the previous year.
“Excluding a modest restructuring charge, operating margins were up from the second quarter and virtually unchanged from last year's third quarter. This reflects our best year-over-year margin comparison in over a year, as our diligent cost containment kept pace with continuing gross margin pressure,” Murdy reported.