Miami-based Edd Helms Group Releases 10QSB for Third Quarter 2006
Stock Symbol EDDH.PK Miami-based Edd Helms Group announces third quarter results for the three months ended February 28, 2006, Revenues were $4,916,726 compared to $4,028,958 in 2005, an increase of approximately $887,768 or about 22% over third quarter 2005. Income from Operations before taxes during the 3rd quarter of 2006 were $17,257 compared with a loss in 2005 of ($179,849), an increase in net income during this period of approximately $197,106 over third quarter 2005. For the nine months ended February 28, 2006, Revenues were $15,498,372 compared to $12,672,031 in 2005. Income from Operations before taxes through the 3rd quarter of 2006 were $856,427 compared with $287,516 through the 3rd quarter of 2005.
Condensed business segments for the nine months ending February 28, 2006 reported as follows:
Edd Helms Electric revenues in the first nine months of 2006 were $6,500,627 compared to $5,098,494 in 2005. Electric income before taxes for the first nine months in 2006 was $605,809 compared to a loss of ($67,771) in 2005.
Edd Helms Air Conditioning Revenues in the first nine months of 2006 were $6,393,227 compared to $4,727,343 in 2005. HVAC Income before taxes in the first nine months of 2006 was $498,052 compared to $109,943 in 2005.
Datatelcom Revenues in the first nine months of 2006 were $2,604,518 compared to $2,846,196 in 2005. Datatelcom Income in the first nine months of 2006 was a loss of ($247,433) compared to income of $245,344 in 2005.
According to Wade Helms, Executive Vice President, the growth in revenues was impacted in a positive way due to the work generated as a result of Hurricane Wilma, positive economic conditions, and a company wide focus on growing revenues by adding additional sales staff. The net income for the three months ending February 28, 2006 was consistent with expectations.