Emcor reports drop in first-quarter revenues

Emcor, a construction and energy infrastructure services group, has posted results for the first quarter ended 31 March 2010 – reporting net income of $21.8m (£14.3m), or $0.32 per diluted share, compared with net income of $36.8m, or $0.55 per diluted share, in the first quarter of 2009.

In the 2010 first quarter, revenues were $1.21bn, compared to $1.39bn in the first quarter of 2009, while operating income was $42.3m, compared to $64.3m in the same quarter a year ago. 

As a percentage of revenues, operating income was 3.5 per cent, compared with 4.6 per cent in the first quarter of 2009.