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Somebody shouldn't have bailed. This looks nice:
Charys Announces Record Revenue and Net Earnings for the Quarter and Nine Months Ended January 31, 2006; Revenues Increase 2,132% and 742% Over Previous Year Periods
ATLANTA, March 29 /PRNewswire-FirstCall/ -- Charys Holding Company, Inc. ("Charys") (OTC Bulletin Board: CHYSE.OB), a holding company focused on pursuing growth opportunities within the Technology Infrastructure and Services Support market, today announced dramatic increases in revenues and net income for the quarter and nine months ended January 31, 2006 as compared to the same period the previous year. Revenues for the nine months ended January 31, 2006 increased 742% to $33.0 million as compared to $3.9 million for the same period in the prior fiscal year, while net earnings rose to $1.3 million or $0.13 per share (basic) compared to a loss of $690 thousand or $0.14 per share for the same period in the prior fiscal year. For the third quarter ending January 31, 2006, revenues increased by 2,132% to $21.8 million as compared to $1.0 million for the same period in the prior fiscal year, while net earnings for the period were $365 thousand or $0.03 per share (basic) as compared to a loss of $822 thousand or $0.16 per share loss for the third quarter ended January 31, 2005. Selected results of operations for the three months and nine months ended January 31, 2006 and 2005 are as follows:
(in thousand, except per share data) Three months ended Nine months ended January 31, January 31, 2006 2005 2006 2005
Net sales $21,769 $975 $33,047 $3,925 Net income (loss): $365 ($822) $1,304 ($690) Net income (loss) per share - basic: $0.03 ($0.16) $0.13 ($0.14)
Net income (loss) per share - diluted: $0.02 ($0.16) $0.11 ($0.14)
Weighted average common shares outstanding: Basic 12,380 4,997 9,814 4,890
Diluted 16,953 4,997 12,227 4,890
Results reflect the successful inclusion and integration of the Method IQ and Viasys Services acquisitions, which were effective November 1, 2005, highlighting management's capabilities to execute and deliver compelling results based on their business strategy. The operating results for the quarter and nine months ended January 31, 2006 represent a significant milestone in Charys' young and developing story. Commenting on the successful financial results, Chairman and CEO of Charys Billy V. Ray, Jr. said, "The achieved successes of Charys to date display the unique and creative operational capabilities of the organization, along with its dedication to bottom-line results, all coupled with sound management and increased industry demand. Charys remains positioned to expand its operations aggressively through additional future acquisitions, and organic growth."
About Charys Holding Company, Inc. Headquartered in Atlanta, Georgia, Charys Holding Company, Inc. (OTC Bulletin Board: CHYSE.OB) is a publicly traded company focusing on the fragmented and underserved segment referred to as The Integrated Infrastructure Services Segment. This segment varies widely in scope, but is fundamentally focused on upgrading the underpinning, infrastructure, and back office operations of the telecommunication, cable, electric, and Internet industries serving consumers, businesses and government entities. Charys' principle strategy is to acquire, through mergers and acquisitions, companies that support this underserved segment. For more information about Charys visit http://www.charys.com.
NOTE: The names of actual companies and products mentioned herein may be the trademarks of their respective owners.
Forward-looking statements in this release, including statements regarding management's expectations for future financial results and access to capital markets, are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that these forward-looking statements regarding Charys Holding Company, Inc., its operations and its financial results involve risks and uncertainties, including without limitation risks of accessing capital markets on terms acceptable to Charys, downturns in economic conditions generally and in the telecommunications and data communications markets; risks in product development and market acceptance of and demand for Charys products; risks of failing to attract and retain key managerial and technical personnel; risks associated with competition and competitive pricing pressures; risks associated with investing in new businesses; risks related to intellectual property rights and litigation; risks in technology development and commercialization.
Company Contact: Morgan Ralph DeLucia Vice President - Investor Relations Charys Holding Company, Inc. 678-443-2307 Fax: 678-443-2320 rdelucia*charys.com
Media contact: Corporate Evolutions, Inc. 516-482-6565 Fax: 516-482-6099 info*corporateevolutions.com
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