First-Quarter Financials
first quarter results for industry leaders
EMCOR Group reported first-quarter 2005 revenues of $1.09 billion, compared with $1.11 billion in revenues for 2004's first quarter. Net income was $1.9 million, or 12 cents per diluted share, compared with $5.7 million, or 37 cents per diluted share, for the same period in 2004. As of March 31, 2005, contract backlog was $2.72 billion. Comfort Systems USA announced a 6.2 percent increase in first-quarter 2005 revenues for a total of $204.7 million, compared to $192.8 million in 2004. About 2.9 percent of this increase resulted from the acquisition of Granite State Plumbing & Heating in January 2005. Net income was $529,000, or 1 cent per diluted share, compared to $1.04 million (3 cents per diluted share) in 2004. Backlog as of March 31 was a record $629.6 million. ServiceMaster's American Residential Services and American Mechanical Services segment reported revenues of $159 million for 2005's first quarter, up 3 percent from 2004's first quarter figures. The seasonal operating loss of $4 million was comparable to the prior year. Growth in retail channel HVAC sales, commercial plumbing and sewer line repairs were more than offset by reductions in core HVAC and plumbing service calls, the company stated. Lennox International's Service Experts segment recorded a sales decline of 2 percent for first-quarter 2005 to $135.9 million. It had an operating loss of $6.3 million, compared with a $7.7 million loss the previous year's first quarter, reflecting a reduction in fixed expenses.
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