Comfort Systems USA
The company recently acquired Delcard Associates, Inc. ("Delcard"), a full service commercial HVAC company based in Wilmington, Delaware. Comfort Systems said Delcard had 2007 revenues of approximately $45 million, adding that Delcard has an ideal geographic location for Comfort Systems, and given its construction and service reputation throughout Delaware as well as the strength of its excellent workforce, Comfort believes Delcard will make a strong contribution to our continuing operations.
Income
In late July, FIX declared a quarterly dividend of $0.045 per share. The company noted that the dividend is payable on September 19, 2008 to shareholders of record at the close of business on August 29, 2008.
Growth
The company also announced second-quarter results in late July. Earnings per share of 38 cents topped the year-prior 25 cents and exceeded the consensus estimate 15%.
Comfort Systems USA's Chairman and CEO Bill Murdy commented, "We are mindful of economic and financial challenges that confront the economy. In light of the consistency of our cash flows, the strength demonstrated in our backlog, and our recent success in bringing strong new operations and their excellent teams into the Comfort Systems USA family, we remain optimistic about the second half of 2008. Even if a significant nonresidential construction recession becomes fact, we believe that we can continue to demonstrate impressive profitability and growth to the fundamental value of Comfort Systems USA."
Read our Jun 27, 2008 analysis.
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