Integrated Electrical Services (IES), Houston, posted increased revenues in its 2011 fiscal second quarter, but profitability continues to lag. The company reported $118.3 million in Q2 sales versus $113.6 million in Q1 and $107.6 million in 2010’s Q2, with an operating loss of $7.9 million versus a $3.7 million loss in Q1 and a loss of $12.2 million in Q2 of 2010. Company executives, though, see a bright spot in improving activity in its end markets.
“Our Communications segment generated strong volume growth in the quarter and continues to perform well, and backlog in our Residential segment increased due to improved demand for multi-family projects. Volumes in our Commercial & Industrial segment improved again this quarter, although we experienced downward pressure on gross profit in that segment, primarily due to execution issues on a few specific projects,” said Michael Caliel, IES president and CEO.