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IES Empowering Growth IES Holdings Reports Fiscal 2021 Third Quarter Results August 5 , 2021 HOUSTON , Aug. 05 , 2021 ( GLOBE NEWSWIRE ) -- IES Holdings , Inc. ( or " IES " or the " Company " ) ( NASDAQ : IESC ) today announced financial results for the quarter ended June 30 , 2021 . Third Quarter 2021 Highlights • Revenue of $ 406 million for the third quarter of fiscal 2021 , an increase of 38 % compared with $ 293 million for the same quarter of fiscal 2020 • Operating income of $ 22.5 million for the third quarter of fiscal 2021 , an increase of 60 % compared with $ 14.1 million for the same quarter of fiscal 2020 • Net income attributable to IES increased 57 % to $ 19.3 million for the third quarter of fiscal 2021 , compared with $ 12.3 million for the same quarter of fiscal 2020 ; diluted earnings per share attributable to common stockholders of $ 0.92 compared with $ 0.58 for the third fiscal quarters of 2021 and 2020 , respectively • Adjusted net income attributable to IES ( a non - GAAP financial measure , as defined below ) increased 62 % to $ 20.7 million compared with $ 12.8 million for the same quarter of fiscal 2020 ; adjusted diluted earnings per share attributable to common stockholders ( a non - GAAP financial measure , as defined below ) of $ 0.99 compared with $ 0.60 for the third fiscal quarters of 2021 and 2020 , respectively • Remaining performance obligations of $ 669 million and backlog ( a non - GAAP financial measure , as defined below ) of $ 825 million as of June 30 , 2021 • Acquired Edmonson Electric , adding to IES Residential capabilities • Terminated NOL Rights Plan effective May 21 , 2021 Overview of Results " We are pleased with our third quarter results , which continued to demonstrate the benefits and strength of our end market and geographic diversification , " said Jeff Gendell , Chairman and Chief Executive Officer . " We reported strong year - over - year growth in revenue and profitability for the quarter , despite industry - wide supply chain constraints and significant raw materials price increases as the U.S. and global economies continue to recover . Notably , higher earnings contribution from our Infrastructure Solutions segment , increased Communications revenue as a result of strong demand , ongoing operating improvements within our Commercial & Industrial segment , and continued strong performance from our Residential business during the quarter all contributed to our improved results compared with the prior year . " Mr. Gendell continued , “ Consolidated revenue for the third quarter of fiscal 2021 increased 38 % over the prior year , reflecting strong demand and the benefit of acquisitions completed in fiscal 2021 , with all four of our operating segments experiencing substantial top - line growth year - over - year . Operating income for the third quarter of fiscal 2021 increased 60 % over the prior year , driven by strong execution by our operating teams . Across our entire business , our employees continue to demonstrate dedication , resilience and creativity , enabling us to grow our profitability and market share in a dynamic environment . " For the third quarter of fiscal 2021 , the Communications segment reported revenue of $ 116.2 million , a 20 % increase from the third quarter of fiscal 2020 , driven primarily by increased demand from our data center and distribution center customers . Operating income for the Communications segment increased 5 % year - over - year to $ 9.9 million , as higher revenue was partially offset by increased personnel costs , particularly in estimating and project management , as we continue to invest in our capabilities to support future growth opportunities . In addition , selling expenses increased this quarter as travel and other activities that were curtailed in response to the pandemic began to return to a more normal level . The Residential segment's revenue was $ 186.4 million in the third quarter of fiscal 2021 , an increase of 73 % compared with the third quarter of fiscal 2020 , reflecting the contribution of businesses acquired during fiscal 2021 , strength in our single - family business and the impact of price increases in connection with higher material costs . Operating income for IES's Residential segment was $ 11.0 million for the third quarter of fiscal 2021 , an increase of 23 % compared to the third quarter of fiscal 2020 , as benefits of higher revenue were partly offset by substantially increased input prices including copper , electrical components , and other materials , as well as the impact of intangible amortization on businesses acquired in fiscal 2021 . Revenue in the Infrastructure Solutions segment increased 22 % to $ 39.1 million in the third quarter of fiscal 2021 compared to the third quarter of fiscal 2020 , driven primarily by increased demand for our custom power solutions . The segment's operating income increased 25 % to $ 4.8 million compared to the third quarter of fiscal 2020 , primarily reflecting higher year - over - year revenue and strong execution . The Commercial & Industrial segment reported revenue of $ 64.1 million for the third quarter of fiscal 2021 , an increase of 13 % compared to the third quarter of fiscal 2020. The segment reported operating income of $ 1.0 million for the third quarter of fiscal 2021 , compared with a loss of $ 4.2 million for the third quarter of fiscal 2020. The improvement in operating performance primarily resulted from the increase in revenue , improved project execution and a focus on controlling costs . Although the market remains highly competitive , we have begun to see a return to more typical levels of activity in the awarding of new contracts .