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KSW Inc Reports Operating Results (10-Q)

November 12, 2010 | About:

10qk

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KSW Inc (KSW) filed Quarterly Report for the period ended 2010-09-30.

Ksw Inc has a market cap of $20.5 million; its shares were traded at around $3.22 with a P/E ratio of 12.9 and P/S ratio of 0.3. The dividend yield of Ksw Inc stocks is 3.1%.KSW is in the portfolios of HOTCHKIS & WILEY of HOTCHKIS & WILEY Capital Management LLC, Jim Simons of Renaissance Technologies LLC.

Highlight of Business Operations:

Total revenues for the quarter ended September 30, 2010 increased by $7,937,000, or 60.2%, to $21,118,000, as compared to $13,181,000 for the quarter ended September 30, 2009. Total revenues for the nine months ended September 30, 2010 increased by $9,509,000, or 19.2%, to $59,017,000, as compared to $49,508,000 for the nine months ended September 30, 2009.

Cost of revenues for the quarter ended September 30, 2010 increased by $7,249,000, or 63.4%, to $18,688,000, as compared to $11,439,000 for the quarter ended September 30, 2009. Cost of revenues for the nine months ended September 30, 2010 increased by $8,107,000, or 18.3%, to $52,496,000, as compared to $44,389,000 for the nine months ended September 30, 2009. The increase in cost of revenues for the quarter and nine months ended September 30, 2010, as compared to the same periods in 2009, were primarily associated with the increased revenues.

Selling, general and administrative expenses (“SG&A”) for the quarter ended September 30, 2010 decreased by $101,000, or (7.9)%, to $1,184,000, as compared to $1,285,000 for the quarter ended September 30, 2009. SG&A for the nine months ended September 30, 2010 decreased by $219,000, or (5.4)%, to $3,825,000, as compared to $4,044,000 for the nine months ended September 30, 2009.

Other income for the quarter ended September 30, 2010 was $7,000, as compared to $18,000 for the quarter ended September 30, 2009. Other income for the nine months ended September 30, 2010 was $37,000, as compared to $38,000 for the nine months ended September 30, 2009. The changes in other income for the quarter and nine months ended September 30, 2010, as compared to the same periods in 2009, included an increase in the interest rates that investments were able to earn, a reduction in interest expense and a gain in the third quarter of 2009 from a foreign currency transaction.

As a result of the above mentioned items, the Company reported net income of $712,000, or $.11 per share, basic and diluted, for the quarter ended September 30, 2010, as compared to reported net income of $264,000, or $.04 per share, basic and diluted, for the quarter ended September 30, 2009.

For the nine months ended September 30, 2010, the Company reported net income of $1,520,000, or $.24 per share, basic and diluted, as compared to reported net income of $674,000, or $.11 per share, basic and diluted, for the nine months ended September 30, 2009.

Read the The complete Report

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10qk
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