By Anastasia Tomazhenkova: Quanta Services Inc., provider of outsourced construction, maintenance, and technology services for electric power,telecommunications,broadband cable, and gas pipeline industries posted that it swung to a fourth-quarter profit, as revenue rose 50% helped by robust customer spending and strong backlog.
The company reported profit of 33.6 million dollars, or 18 cents a share, compared with a loss of 30.5 million dollars, or 26 cents a share, in the prior year.
Profit from continuing operations was 33.5 million dollars, or 18 cents a share, compared with a loss from continuing operations of 31.2 million dollars, or 27 cents a share.
Analysts predicted net income of 13 cents a share, according to a Thomson Financial survey.
For the period ended December 31, sales surged 50% to 879 million dollars from 585.2 million dollars to top Wall Street's estimate of 833.1 million dollars.
Full-year earnings jumped to 136 million dollars, or 1 dollar a share, from 17.5 million dollars, or 15 cents a share.
Income from continuing operations soared to 133.1 million dollars, or 87 cents a share, from 16.2 million dollars, or 14 cents a share, a year ago.
Annual revenue rose 26% to 2.66 billion dollars from 2.11 billion dollars a year earlier.
The behavior of the Russian inspector satellite, which was launched in the autumn of 2017, puzzles military officials in the United States
When the bill was submitted to Congress on August 2, the reason for imposing the new sanctions on Russia was based on Russia's alleged interference in the US presidential election in 2016, but then something clicked