Integrated Electrical Services, Inc. has announced financial results for its fiscal 2014 first quarter. The results for the first quarter of 2014 include the first full quarter of the Infrastructure Solutions segment, which was created as part of the acquisition of MISCOR Group, Ltd. completed on Sept. 13, 2013.

  • Revenue of $120.1 million for the first quarter of 2014, a decrease of 5.6% compared with the first quarter of 2013
  • Gross profit of $18.1 million for the first quarter of 2014, an improvement of $0.1 million compared with the first quarter of 2013; Gross margins for the quarter improved to 15.1% of revenue as compared to gross margins of 14.1% of revenue for the first quarter of 2013
  •  Adjusted EBITDA (as defined below) of $1.9 million for the first quarter of 2014, a decrease of $2.2 million compared with the first quarter of 2013
  • Backlog was approximately $214 million at December 31, 2013, a $10 million increase from September 30, 2013