InfraSource Services, Inc. Reports Preliminary Fourth Quarter 2006 Results
January 16 2007 - 8:59AM
PR Newswire (US)
MEDIA, Pa., Jan. 16 /PRNewswire-FirstCall/ -- InfraSource Services,
Inc. (NYSE:IFS), one of the largest specialty contractors servicing
utility transmission and distribution infrastructure in the United
States, today announced that, after a preliminary review of its
financial results for the fourth quarter ended December 31, 2006,
it now expects revenues and earnings will be higher than previous
guidance. The Company now expects that revenues for the fourth
quarter 2006 will be in the range of $240 to $250 million and
earnings will be $0.15 to $0.17 per diluted share compared to its
previous guidance of $200 to $210 million and $0.11 to $0.13 per
diluted share. David Helwig, Chairman, President and Chief
Executive Officer, said "Our higher than expected revenue and
earnings for the fourth quarter result from successful completion
of several projects, increased customer demand for greater volumes
of work at year-end and favorable weather." InfraSource expects to
provide the details of its 2006 financial results and guidance for
the first quarter 2007 in late February. About InfraSource
InfraSource Services, Inc. (NYSE:IFS) is one of the largest
specialty contractors servicing utility transmission and
distribution infrastructure in the United States. InfraSource
designs, builds, and maintains transmission and distribution
networks for utilities, power producers, and industrial customers.
Further information can be found at http://www.infrasourceinc.com/.
Safe Harbor Statement Certain statements contained in this press
release are forward-looking statements. These forward-looking
statements are based upon our current expectations about future
events. When used in this press release, the words "believe,"
"anticipate," "intend," "estimate," "expect," "will," "should,"
"may," and similar expressions, or the negative of such words and
expressions, are intended to identify forward-looking statements,
although not all forward- looking statements contain such words or
expressions. These forward-looking statements generally relate to
our plans, objectives and expectations for future operations and
are based upon management's current estimates and projections of
future results or trends. However, these statements are subject to
a number of risks and uncertainties affecting our business. You
should read this press release completely and with the
understanding that actual future results may be materially
different from what we expect as a result of these risks and
uncertainties and other factors, which include, but are not limited
to: (1) the impact of variations between actual and estimated costs
under our contracts, particularly our fixed-price contracts; (2)
project delays or cancellations; (3) the failure to meet schedule
or performance requirements of our contracts; and (4) other factors
detailed from time to time in our reports and filings with the
Securities and Exchange Commission. Except as required by law, we
do not intend to update forward-looking statements even though our
situation may change in the future. CONTACT: Terence R. Montgomery
610-480-8000 Mahmoud Siddig 212-889-4350 DATASOURCE: InfraSource
Services, Inc. CONTACT: Terence R. Montgomery, InfraSource
Services, Inc., +1-610-480-8000, ; or Mahmoud Siddig, for
InfraSource Services, Inc., +1-212-889-4350, Web site:
http://www.infrasourceinc.com/
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