Comfort Systems USA Reports Second Quarter Results
HOUSTON - Comfort Systems USA Inc., a provider of commercial, industrial, and institutional HVAC services, announced net income of $4,174,000 or $0.10 per diluted share, for the quarter ended June 30, 2004, as compared to net income of $2,573,000 or $0.07 per diluted share, in the second quarter of 2003. Net income in the second quarter of 2003 was benefited by $0.02 per diluted share resulting from an unusually low tax provision related to a conservative tax position that the company had taken in the first quarter of last year.
Excluding the charges for restructuring and debt cost writeoff, and the effect of divested units not included in discontinued operations, net income from ongoing operations was $3,193,000 or $0.08 per diluted share in the second quarter of 2003, again including a $0.02 per diluted share benefit in connection with the tax item noted previously.