SOURCE: KSW, Inc.

March 12, 2012 08:00 ET

KSW Reports 2011 Profits and Revenue

LONG ISLAND CITY, NY--(Marketwire - Mar 12, 2012) - KSW, Inc. (NASDAQ: KSW) today reported preliminary year-end financial results for 2011.

Net income for 2011 was $1,550,000, or $.24 per share (basic and diluted), compared to 2010 net income of $1,968,000, or $.31 per share (basic and diluted). For the fourth quarter of 2011, net income was $584,000 or $.09 per share (basic and diluted), compared to $448,000, or $.07 per share (basic and diluted) for the fourth quarter of 2010.

Revenue in 2011 was $69,281,000, compared to $76,294,000 in 2010. Revenue for the fourth quarter of 2011 was $19,132,000, an increase of $1,855,000, or 10.7% from $17,277,000 in the fourth quarter of 2010.

As of December 31, 2011, the Company's backlog was approximately $86,300,000, as compared to $64,000,000 as of December 31, 2010.

Chairman of the Board Floyd Warkol commented: "We continue to see an increase in activity in the private sector. We have been asked to review a number of new projects, many of which are for repeat customers who appreciate our Value Engineering services. We will continue to pursue these opportunities, as well as opportunities in the public sector, during 2012."

About KSW

KSW, Inc., through its totally-owned mechanical subsidiary KSW Mechanical Services, Inc., furnishes and installs heating, ventilating and air conditioning (HVAC) systems and process piping systems for institutional, industrial, commercial, high-rise residential and public works projects. KSW Mechanical Services, Inc. also acts as trade manager on larger construction projects, such as Mount Sinai Center for Science and Medicine.

Safe Harbor Statement

Certain statements contained in this press release are not historical facts, and constitute "forward-looking statements" (as such term is defined in the Private Securities Litigation Reform Act of 1995). These forward looking statements generally can be identified as statements that include phrases such as "believe," "expect," "anticipate," "intend," "plan," "foresee," "likely," "should," "will" or other similar words or phrases. Such forward-looking statements concerning management's expectations and other similar matters involve known and unknown risks, uncertainties and other important factors that could cause the actual results to differ materially from any future results, performance or achievements discussed or implied by such forward-looking statements. Such risks, uncertainties, and other important factors that could cause actual results to differ materially from expectations of the Company include, among others, the outcome of the year-end audit, and further internal review of the Company's historical financial statements. All written and oral forward-looking statements of or attributable to the Company or persons acting on behalf of the Company are qualified in their entirety by such factors. The Company disclaims any obligation or undertaking to provide any updates or revisions to any forward-looking statement to reflect any change in the Company's expectations or any change in events, conditions or circumstances on which the forward-looking statement is based.

Visit our website at www.kswmechanical.com.

Contact Information

  • For More Information contact:
    James Oliviero
    KSW, Inc.
    (718) 340-1409
    Email Contact