IES Holdings, Inc. (IESC) has reported an 1,260 percent jump in profit for the quarter ended Sep. 30, 2016. The company has earned $102 million, or $4.74 a share in the quarter, compared with $7.50 million, or $0.35 a share for the same period last year. On an adjusted basis, net profit for the quarter was $8.10 million, when compared with $6.80 million in the last year period.
Revenue during the quarter grew 28.74 percent to $205.60 million from $159.70 million in the previous year period. Gross margin for the quarter contracted 80 basis points over the previous year period to 18.24 percent. Total expenses were 95.53 percent of quarterly revenues, up from 95.24 percent for the same period last year. That has resulted in a contraction of 28 basis points in operating margin to 4.47 percent.
Operating income for the quarter was $9.20 million, compared with $7.60 million in the previous year period.
Operating cash flow improves significantly
IES Holdings, Inc. has generated cash of $25 million from operating activities during the year, up 117.39 percent or $13.50 million, when compared with the last year.
The company has spent $60.70 million cash to meet investing activities during the year as against cash outgo of $5.90 million in the last year.
Cash flow from financing activities was $19.30 million for the year as against cash outgo of $3.60 million in the last year period.
Cash and cash equivalents stood at $33 million as on Sep. 30, 2016, down 33.20 percent or $16.40 million from $49.40 million on Sep. 30, 2015.
Working capital declines
IES Holdings, Inc. has witnessed a decline in the working capital over the last year. It stood at $76.60 million as at Sep. 30, 2016, down 5.39 percent or $4.36 million from $80.96 million on Sep. 30, 2015. Current ratio was at 1.58 as on Sep. 30, 2016, down from 1.75 on Sep. 30, 2015.
Debt increases substantially
IES Holdings, Inc. has witnessed an increase in total debt over the last one year. It stood at $29.30 million as on Sep. 30, 2016, up 218.48 percent or $20.10 million from $9.20 million on Sep. 30, 2015. Total debt was 7.43 percent of total assets as on Sep. 30, 2016, compared with 4.06 percent on Sep. 30, 2015. Debt to equity ratio was at 0.13 as on Sep. 30, 2016, up from 0.09 as on Sep. 30, 2015.
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