Energy solutions provider, Pike Electric
Corporation ( PIKE ) posted enhanced
year-over-year results for fiscal third quarter of 2013. Pike's
earnings per share in the quarter were 8 cents, rising 33.3% year
over year, as a result of increased sales and improved margins.
However, Pike missed the Zacks Consensus Estimate of 10 cents by
Revenues : Increased storm related services
augmented revenues in the quarter by 23.0% to $200.0 million.
Revenues lagged the Zacks Consensus Estimate of $204.0 million by
Revenues from the Construction segment surged 15.5% year over
year to $166.7 million, as a result of improved core sales as well
as storm related services.
Revenues derived from All Other Operations shot up 82.5% to
$33.5 million, driven primarily by core sales as well as storm
Margins : Gross profit margin for Pike in the
quarter was recorded at 12.5%, declining by 11 basis points year
over year. General and administrative expense totaled $18.7
million, increasing from the $16.2 million recorded in the year-ago
Balance Sheet/Cash Flow : Exiting the fiscal
third quarter of 2013, Pike's cash and cash equivalents stood at
$6.0 million, compared with $2.5 million in the preceding quarter.
Revolving credit facility was recorded at $191.0 million; against
$207.5 million at the end of fiscal second quarter of 2013.
Capital expenditure for the quarter amounted to $9.9 million,
against $6.5 million recorded in the fiscal third quarter of
Pike currently carries a Zacks Rank #3 (Hold). Other stocks
worth a look in the electric power industry are Brookfield
Infrastructure Partners L.P. ( BIP ), Empresa
Nacional de Electricidad S.A. ( EOC ) and China
Resources Power Holdings Co. Ltd. ( CRPJY ); each
carrying a Zacks Rank #1 (Strong Buy).BROOKFIELD INFR (BIP): Free Stock Analysis
ReportCHINA RES POWER (CRPJY): Get Free ReportENDESA-CHILE (EOC): Free Stock Analysis ReportPIKE ELECTRIC (PIKE): Free Stock Analysis
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