Slide 1: Integrated Electrical Services, Inc. 1st Quarter Results
Integrated Electrical Services, Inc. 1st Quarter Results February 10, 2010 Michael J. Caliel, President & CEO Randy Guba, EVP, CFO Ken Dennard, DRG&E IES We power progress
Slide 2: Safe Harbor
IES. Safe Harbor * Gavia gatomets inthis legs, tusngsttgments regan the restucturng plan anc tole estimated charges and Gost rections associated with this plan are ‘Yorwarctiooking staterrents* within the meaning of Section 27A of the Securties Act of 1933 and Section HE of the Securties Exchange Ac
Slide 3: Q1 Highlights
IES. Q1 Highlights Construction markets remain extremely challenging, resulting in lower revenues Focused on cost control, execution, and winning business Restructuring programs essentially complete — SG&A reduced from $138MM to $85MM Gross margin improved 40 bps SG&A below targeted run rate for fis
Slide 4: Financial Highlights
IES. Financial Highlig (8 Thousands Three Months Ended December 31 Variance 2008 2008 % Revenue 120,248 173,107 60.5%) Gross Profit 19,921 27977 (20.8%) %6 16.0% 16.2% Selling, General, and Administrative Expenses 19,267 33.3% %6 16.0% Restructuring Expenses 698 Operating Income 21 (1,272) 101.7% %
Slide 5: Commercial & Industrial
IES. Commercial & Industrial (6 Thousand Three Months Ended December31 Variance 2009 2008 4 Revenue 91,256 120,74 (20.6%) Gross Profit 13977 17,751 26.3%) % 143% 13.9% SGA Expenses 9843 15,060 34.6% % 10.8% 11.8% Restructuring 716 aig Operating Income 2581 2,308 0.0% % 2.8% 1.9% + Revenue decteased
Slide 6: Residential
IES. (8 Thousands) Three Months Ended December 31 Variance 2009 2008 % Revenue 28,992 45,366 65.1%) Gross Profit 6,844 10,226 63.1%) % 23.6% 22.5% SGEA Expenses 6,023 3677 37.8% % 20.896 21.386 Restructuring Q 64 Operating Income 823 a1 0% % 2.8% 10% + Revenue decreased §16.4MM from reduced building
Slide 7: Backlog
IES. (8 Mitions) m3 Dec-08 ar-09 Jun-08 Sep.03 Dee-03 + Backlog essentially flat versus Q4 2009 + 26% decrease versus @1 2009 as a result of market pressures, project deferrals, and project selectivity
Slide 8: Q1 Balance Sheet Highlights
IES. Q1 Balance Sheet Highlights (8 Thousands) 12/31/2009 9302009 Cash 55,795 64,174 Current Assets 200,869 221,270 Current Liabilities 78,774 99,706 Warking Capital 122,095 121,584 Total Debt 28634 28,687 Total Equity 131,988 132,548 Backlog 236,835 240,548
Slide 9: Construction markets remain extremely challenging
IES. + Construction markets remain extremely challenging + Disciplined business development approach to manage profitability and credit risk of new business + Continue ta aggressively manage costs — on pace to beat $85-90MM SG&A target + Poisedito capitalize on growing renewable energy markets + Ind