PRESS RELEASE May 5, 2006
For confirmation call:
ACMAT Corporation Henry W. Nozko, Jr., President
233 Main Street
New Britain, CT 06050 (860) 229-9000
ACMAT REPORTS INCREASE
IN EARNINGS FROM OPERATIONS AND SALE OF UNITED COASTAL
Fourth Quarter Ended Year Ended
2005 2004 2005 2004
Revenues $14,100,860 8,685,869 30,539,699 30,835,531
Net earnings $ 5,784,203 947,357 8,483,722 3,026,078
Basic Earnings Per Share $2.58 .41 3.77 1.31
Diluted Earnings Per Share $2.49 .40 3.66 1.28
ACMAT Corporation reported net earnings of $5,784,203 or basic earnings per share of $2.58 for the three months ended December 31, 2005, compared with net earnings of $947,357 or basic earnings per share of $.41 for the three months ended December 31, 2004. Net earnings for the year ended December 31, 2005 were $8,483,722 or basic earnings per share of $3.77 compared with $3,026,078 or basic earnings per share of $1.31 for the year ended December 31, 2004. Net earnings include approximately $5,000,000 from the sale of United Coastal Insurance Company on November 22, 2005.
For the three months ended December 31, 2005, the Company recorded revenues of $14,100,860, compared to $8,685,869 for the same three months in 2004. For the year ended December 31, 2005, the Company recorded revenues of $30,539,699, compared to $30,835,531 for 2004. Revenues include $7,336,667 from the sale of United Coastal Insurance Company.
ACMAT provides design and construction services to commercial, industrial, corporate and institutional customers. ACMAT focuses on renovating interiors of existing facilities, as well as new building construction.
ACMAT's insurance subsidiary, ACSTAR Insurance Company is licensed nationwide and provides surety bonds for prime contractors, specialty trade, environmental remediation and asbestos abatement contractors and miscellaneous surety.