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| Emcor posts record first quarter results Engineering and construction company Emcor Group Inc reported results for its first quarter ended March 31, 2008. For the first quarter of 2008, net income rose 144.6% to $29.3 million, or $0.44 per diluted share, from $12.0 million, or $0.18 per diluted share, in the first quarter of 2007. Revenues in the 2008 first quarter rose 29.1% to $1.66 billion from $1.29 billion in the first quarter of 2007. Emcor reported operating income of $49.7 million for the first quarter of 2008, compared to $17.4 million in the first quarter of 2007, an increase of 186.2%. As a percentage of revenues, first quarter 2008 operating margins improved to 3.0%, the highest for any first quarter in the history of the company, from 1.3% a year ago. Selling, general and administrative (SG&A) expenses were $140.2 million, or 8.4% of revenues, in the 2008 first quarter compared to $111.6 million, or 8.7% of revenues, in the first quarter of 2007. Contract backlog as of March 31, 2008 was $4.39 billion, an increase of 14.3% over backlog of $3.84 billion at March 31, 2007. Emcor noted that it continues to expect to generate revenues for the 2008 full-year period of between $6.3 billion and $6.5 billion and diluted earnings per share for 2008 of $2.08 to $2.28. write your comments about the article :: © 2008 Construction News :: home page |