Aug. 2, 2013: Comfort Systems Reports Improved Profitability
Second Quarter Net Income Up Significantly Over Second Quarter of 2012
HOUSTON — Comfort Systems USA Inc., a leading provider of commercial, industrial, and institutional HVAC services, reported net income of $7,762,000 or $0.21 per diluted share, for the second quarter ended June 30, 2013, as compared to $4,468,000 or $0.12 per diluted share, for the quarter ended June 30, 2012. The company reported revenue of $351,053,000 in the second quarter as compared to $353,172,000 in 2012. The company reported free cash flow of $2,996,000 in the second quarter, as compared to $2,641,000 in 2012. Backlog as of June 30, 2013 was $590,276,000 as compared to $631,056,000 as of March 31, 2013 and $617,204,000 as of June 30, 2012.
Brian Lane, chief executive officer of Comfort Systems USA, said, “We experienced improved profitability during the quarter. Service continued to provide solid returns, and many of our construction projects benefitted from terrific execution despite tough markets. Our people have performed and improved through adversity, and as activity recovers we feel confident in our world-class team of building professionals. Although backlog declined somewhat this quarter in the midst of our busy project performance season, we feel that compared to the past few years our pipeline of work is consistent and that our operations are favorably positioned with available work.”