Last10K.com

Energy Services Of America Corp (ESOA) SEC Filing 10-K Annual report for the fiscal year ending Wednesday, September 30, 2015

Energy Services Of America Corp

CIK: 1357971 Ticker: ESOA

 

 

Exhibit 99.1

 

ENERGY SERVICES OF AMERICA FILES ANNUAL REPORT

 

Huntington, WV   December 17, 2015-  Energy Services of America (the “Company”) (OTCQB: ESOA), parent company of C.J. Hughes Construction Company and Nitro Electric Company, announced today the filing of the Company’s Annual Report on Form 10-K for the year ended September 30, 2015. Energy Services earned revenue of $116.8 million for fiscal year ended September 30, 2015. Gross profit and income from operations were $10.9 million and $4.3 million, respectively. Net income available to common shareholders, which included tax expense of $1.6 million, was $1.8 million. The company had EBITDA of $7.6 million, or $0.53 per share, and earnings per share of $0.13 on 14,239,836 common shares outstanding. The backlog at September 30, 2015 was $71.3 million. Please see Energy Services’ December 17, 2015, Form 10-K filing for more details.

 

Douglas Reynolds, President, commented on the announcement. “We are very pleased with our earnings for fiscal year 2015. We increased revenues and income from continuing operations before tax by $23.5 million and $2.4 million, respectively, compared to fiscal year 2014. Also, the $71.3 million backlog entering fiscal year 2016 is a $19.5 million increase over the $51.8 million backlog entering fiscal year 2015. We expect to continue building on the past three year’s success in fiscal year 2016.”

 

Below is a comparison of the Company’s unaudited operating results for fiscal year 2015 compared to fiscal year 2014:

 

   Twelve Months Ended   Twelve Months Ended 
   September 30, 2015   September 30, 2014 
         
Revenue  $116,800,046   $93,273,139 
           
Gross profit   10,864,205    8,511,218 
           
Income from operations   4,279,871    2,155,609 
           
Income from continuing operations before income taxes   3,711,522    1,360,719 
           
Income tax expense (benefit)   1,597,332    (2,342,244)
           
Income from continuing operations   2,114,190    3,702,963 
           
Dividends on preferred stock   309,000    386,250 
           
Income from continuing operations available to common shareholders   1,805,190    3,316,713 
           
Income (loss) from discontinued operations net of tax expense   26,340    (54,766)
           
Net income available to common shareholders  $1,831,530   $3,261,947 

 

 

 

 

Please refer to the table below that reconciles EBITDA and EBITDA per share:

 

   Twelve Months Ended   Twelve Months Ended 
   September 30, 2015   September 30, 2014 
         
Revenue  $116,800,046   $93,273,139 
Cost of revenues   105,935,841    84,761,921 
Gross margin   10,864,205    8,511,218 
Selling and administrative expenses   6,584,334    6,355,609 
Income from operations   4,279,871    2,155,609 
Depreciation expense   3,291,386    3,384,504 
EBITDA  $7,571,257   $5,540,113 
Common shares outstanding   14,239,836    14,239,836 
EBITDA per common share  $0.53   $0.39 

 

Certain statements contained in the release, including without limitation statements including the words "believes," "anticipates," "intends," "expects" or words of similar import, constitute "forward-looking statements" within the meaning of section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements of the Company expressed or implied by such forward-looking statements. Such factors include, among others, general economic and business conditions, changes in business strategy or development plans and other factors referenced in this release. Given these uncertainties, prospective investors are cautioned not to place undue reliance on such forward-looking statements. The Company disclaims any obligation to update any such factors or to publicly announce the results of any revisions to any of the forward-looking statements contained herein to reflect future events or developments.

 

Source: Energy Services of America

 

Contact: Douglas V. Reynolds, President

304-522-3868

 

 

 

  


The following information was filed by Energy Services Of America Corp (ESOA) on Thursday, December 17, 2015 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one year to another to evaluate Energy Services Of America Corp's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Energy Services Of America Corp.

Continue

Assess how Energy Services Of America Corp's management team is paid from their Annual Proxy

Definitive Proxy Statement (Form DEF 14A)
Screenshot example of actual Proxy Statement

Energy Services Of America Corp's Definitive Proxy Statement (Form DEF 14A) filed after their 2015 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

Continue

Tools

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (parentheticals)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Changes In Shareholders' Equity
Consolidated Statements Of Income
Consolidated Statements Of Income (parentheticals)
Accounts Receivable
Accounts Receivable (tables)
Accounts Receivable - Summary Of Activity In Allowance For Doubtful Accounts (details)
Business And Organization
Business And Organization (detail Textuals)
Claims
Commitments And Contingencies
Condensed Parent Company Only Financial Statements
Condensed Parent Company Only Financial Statements (tables)
Condensed Parent Company Only Financial Statements - Summary Of Balance Sheets (details)
Condensed Parent Company Only Financial Statements - Summary Of Balance Sheets (parentheticals) (details)
Condensed Parent Company Only Financial Statements - Summary Of Consolidated Statement Of Cash Flows (details 2)
Condensed Parent Company Only Financial Statements - Summary Of Statement Of Income (details 1)
Credit Risk
Credit Risk (detail Textuals)
Discontinued Operations
Discontinued Operations (detail Textuals)
Discontinued Operations (tables)
Discontinued Operations - Cash Flows From Discontinued Operations (details 2)
Discontinued Operations - Components Of Asset And Liabilities Classified As Discontinued Operations (details 1)
Discontinued Operations - Operating Results From Discontinued Operations (details)
Earnings Per Share
Earnings Per Share (tables)
Earnings Per Share - Summary Of Amounts Used To Compute Basic And Diluted Earnings Per Share (details)
Goodwill And Intangible Assets
Goodwill And Intangible Assets (detail Textuals)
Goodwill And Intangible Assets (tables)
Goodwill And Intangible Assets - Summary Of Summary Of Changes In Company's Goodwill (details)
Income Taxes
Income Taxes (detail Textuals)
Income Taxes (tables)
Income Taxes - Components Of Income Taxes (details)
Income Taxes - Summary Of Income Tax Effects Of Temporary Differences Giving Rise To Deferred Tax Liabilities (details 2)
Income Taxes - Summary Of Provision For Income Taxes Differs From Amount Computed By Applying Federal Statutory Rate (details 1)
Lease Obligations
Lease Obligations (detail Textuals)
Lease Obligations (tables)
Lease Obligations - Future Minimum Lease Payments Under Operating Leases (details)
Long Term Incentive Plan
Long Term Incentive Plan (detail Textuals)
Long-term Debt
Long-term Debt (tables)
Long-term Debt - Maturities Of Debt (details 1)
Long-term Debt - Summary Of Long-term Debt (details)
Long-term Debt - Summary Of Long-term Debt (parentheticals) (details)
Major Customers
Major Customers (detail Textuals)
Property And Equipment
Property And Equipment (tables)
Property And Equipment - Summary Of Property And Equipment (details)
Quarterly Financial Data (unaudited)
Quarterly Financial Data (unaudited) (tables)
Quarterly Financial Data (unaudited) -summary (details)
Related Party Transactions
Related Party Transactions (detail Textuals)
Retirement And Employee Benefit Plans
Retirement And Employee Benefit Plans (detail Textuals 1)
Retirement And Employee Benefit Plans (detail Textuals 2)
Retirement And Employee Benefit Plans (detail Textuals)
Short-term Debt
Short-term Debt (detail Textuals)
Stock Purchase Plan
Stock Purchase Plan (detail Textuals)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (detail Textuals 1)
Summary Of Significant Accounting Policies (detail Textuals)
Summary Of Significant Accounting Policies (policies)
Uncompleted Contracts
Uncompleted Contracts (tables)
Uncompleted Contracts - Summary Of Costs, Estimated Earnings, And Billings On Uncompleted Contracts (details)

Material Contracts, Statements, Certifications & more

Energy Services Of America Corp provided additional information to their SEC Filing as exhibits

Ticker: ESOA
CIK: 1357971
Form Type: 10-K Annual Report
Accession Number: 0001571049-15-010029
Submitted to the SEC: Thu Dec 17 2015 9:01:25 AM EST
Accepted by the SEC: Thu Dec 17 2015
Period: Wednesday, September 30, 2015
Industry: Water Sewer Pipeline Comm And Power Line Construction

External Resources:
Stock Quote
Social Media

Bookmark the Permalink:
https://last10k.com/sec-filings/esoa/0001571049-15-010029.htm