1
Filed Pursuant to Rule 424(b)(3)
Registration Number: 333-45479
PROSPECTUS SUPPLEMENT DATED MARCH 3, 1998 TO PROSPECTUS DATED FEBRUARY 9, 1998
Integrated Electrical Services, Inc. reported operating results for
the three months ended December 31, 1997, as follows:
INTEGRATED ELECTRICAL SERVICES, INC. PRO FORMA COMBINED
SUMMARY RESULTS OF OPERATIONS
(Dollars in Thousands, Except Per Share Amounts)
(Unaudited)
Three Months Ended
December 31,
-----------------------------
1996 1997
------------ --------------
Revenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 76,378 $ 86,342
Gross profit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17,685 19,202
Operating income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6,655 7,569
Income before income taxes . . . . . . . . . . . . . . . . . . . . . . . . 6,604 7,323
Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,653 4,092
Earnings per share . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.15 0.17
Shares used in pro forma computation of earnings per share . . . . . . . . 24,415,336 24,415,336
HOUSTON-STAFFORD ELECTRIC, INC.
SUMMARY RESULTS OF OPERATIONS
(Dollars in Thousands)
(Unaudited)
Three Months Ended
December 31,
-----------------------------
1996 1997
------------- -------------
Revenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 17,431 $ 23,851
Gross profit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,254 5,160
Operating income (loss) . . . . . . . . . . . . . . . . . . . . . . . . . . 848 (1,964)
Income (loss) before income taxes . . . . . . . . . . . . . . . . . . . . . 849 (1,982)
Net income (loss) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 459 (1,162)
Total pro forma combined revenues for the first quarter of fiscal 1998
increased 13.0% to $86.3 million compared with $76.4 million in the first
quarter of fiscal 1997. Pro forma combined operating income rose 13.7% to $7.6
million from $6.7 million in the first quarter of fiscal 1997. Pro forma
combined net income for the quarter was $4.1 million, or $0.17 per share,
versus $3.7 million, or $0.15 per share, in the comparable period of fiscal
1997, a 13.3% improvement in earnings per share. Revenue growth was primarily
driven by high demand of both commercial and residential services.