QUANTA SERVICES INC, QUANTA SERVICES MANAGEMENT ...
QUANTA SERVICES INC, QUANTA SERVICES MANAGEMENT ...
QUANTA SERVICES INC, QUANTA SERVICES MANAGEMENT ...
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ITEM 6. Selected Financial Data<br />
The following historical selected financial data has been derived from the financial statements of Quanta.<br />
See Note 4 of Notes to Consolidated Financial Statements in Item 8. “Financial Statements and Supplementary<br />
Data” for information regarding certain acquisitions and the related impact on our results of operations as these<br />
acquisitions may affect the comparability of such results. The historical selected financial data should be read in<br />
conjunction with our Consolidated Financial Statements and related notes thereto included in Item 8. “Financial<br />
Statements and Supplementary Data” and “Management’s Discussion and Analysis of Financial Condition and<br />
Results of Operations” included in Item 7.<br />
Year Ended December 31,<br />
2011 2010 2009 2008 2007<br />
(In thousands, except per share information)<br />
Consolidated Statements of Operations<br />
Data:<br />
Revenues ..........................<br />
Cost of services (including<br />
$4,623,829 $3,931,218 $3,318,126 $3,780,213 $2,656,036<br />
depreciation) ..................... 4,003,230(a) 3,296,795 2,724,638 3,145,347 2,227,289<br />
Gross profit ........................ 620,599 634,423 593,488 634,866 428,747<br />
Selling, general and administrative<br />
expenses ........................ 372,963 339,672 312,414 309,399 240,508<br />
Amortization of intangible assets ....... 29,953 38,568 38,952 36,300 18,759<br />
Operating income ................... 217,683 256,183 242,122 289,167 169,480<br />
Interest expense ..................... (1,821) (4,913) (11,269) (32,002) (39,328)<br />
Interest income ..................... 1,066 1,417 2,456 9,765 19,977<br />
Loss on early extinguishment of debt,<br />
net ............................. — (7,107)(c) — (2) (34)<br />
Other income (expense), net ........... (558) 675 421 342 (546)<br />
Income from continuing operations before<br />
income taxes ..................... 216,370 246,255 233,730 267,270 149,549<br />
Provision for income taxes ............ 71,954(b) 90,698(b) 70,195(b) 109,705 27,684(b)<br />
Income from continuing operations ..... 144,416 155,557 163,535 157,565 121,865<br />
Discontinued operation:<br />
Income from discontinued operation .... — — — — 2,837(d)<br />
Net income .................... 144,416 155,557 163,535 157,565 124,702<br />
Less: Net income attributable to<br />
noncontrolling interest ............. 11,901 2,381 1,373 — —<br />
Net income attributable to common<br />
stock ........................... $ 132,515 $ 153,176 $ 162,162 $ 157,565 $ 124,702<br />
Basic earnings per share attributable to<br />
common stock from continuing<br />
operations ....................... $ 0.62 $ 0.73 $ 0.81 $ 0.89 $ 0.89<br />
Diluted earnings per share attributable to<br />
common stock from continuing<br />
operations ....................... $ 0.62 $ 0.72 $ 0.81 $ 0.87 $ 0.86<br />
(a) In the fourth quarter of 2011, we recorded a $32.6 million charge to cost of services related to our partial<br />
withdrawal from an underfunded pension plan.<br />
34
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