Alright Mark! Look at KSWW 3.03 +.18 in for 5k as it's got a beautiful chart, at a new 52wk high on big volume and just look at their last Q earnings: KSW, Inc.'s Third Quarter Revenues and Profits Surge
Monday November 7, 11:34 am ET
LONG ISLAND CITY, New York--(BUSINESS WIRE)--Nov. 7, 2005--KSW, Inc. (NASDAQ Electronic Bulletin Board: KSWW.OB) today reported financial results for the third quarter of 2005.
Total revenue for the third quarter increased by $8,283,000 or 126% to $14,849,000, as compared to $6,566,000 for the third quarter of 2004. Total revenue for the nine months ended September 30, 2005 increased by $16,873,000 or 87% to $36,277,000, as compared to $19,404,000 for the nine months ended September 30, 2004.
ADVERTISEMENT
The Company generated net income of $1,262,000 (or $0.23 per share) for the third quarter of 2005, as compared to a net loss of $596,000 for the third quarter of 2004. For the nine months ended September 30, 2005, the Company reported net income of $1,715,000 (or $.31 per share), as compared to a net loss of $1,291,000 for the nine months ended September 30, 2004.
Third quarter 2005 earnings include a benefit of $759,000 resulting from a deferred tax asset adjustment. Third quarter 2005 results do not include the net gain of $880,000 generated by the claim settlement previously reported in the Company's press release and accompanying Form 8K, both filed on October 20, 2005. The gain of $880,000 will be recognized in the fourth quarter 2005.
KSW, Inc. through its totally-owned mechanical subsidiary KSW Mechanical Services, Inc. furnishes and installs heating, ventilating and air conditioning (HVAC) systems and process piping systems for institutional, industrial, commercial, high-rise residential and public works projects. KSW Mechanical Services, Inc. also acts as Trade Manager on larger construction projects, such as the Weill Cornell Ambulatory Care Building.
Safe Harbor Statement
Certain statements contained in this press release are not historical facts, and constitute "forward-looking statements" (as such term is defined in the Private Securities Litigation Reform Act of 1995). These forward looking statements generally can be identified as statements that include phrases such as "believe", "expect", "anticipate", "intend", "plan", "foresee", "likely", "should", "will" or other similar words or phrases. Such forward-looking statements concerning management's expectations and other similar matters involve known and unknown risks, uncertainties and other important factors that could cause the actual results to differ materially from any future results, performance or achievements discussed or implied by such forward-looking statements. Such risks, uncertainties, and other important factors that could cause actual results to differ materially from expectation of the Company include, among others, the outcome of the year-end audit and further internal review of the Company's historical financial statements. All written and oral forward-looking statements of or attributable to the Company or persons acting on behalf of the Company are qualified in their entirety by such factors. The Company disclaims any obligation or undertaking to provide any updates or revisions to any forward-looking statement to reflect any change in the Company's expectations or any change in events, conditions or circumstances on which the forward-looking statement is based.
--------------------------------------------------------------------------------
Contact:
KSW, Inc.
James F. Oliviero, 718-340-1409
--------------------------------------------------------------------------------
Source: KSW, Inc. |
