Summary
Comfort Systems USA Inc. (FIX) filed its quarterly report for the period ending March 30, 2014. The company reports ongoing legal proceedings, stating that while it maintains insurance and has accrued for probable losses, management currently believes these matters will not materially adversely impact financial condition, operating results, or cash flows. However, inherent uncertainties exist, and management's view could change. In terms of shareholder returns, the company continues to execute its stock repurchase program. During the first quarter of 2014, FIX repurchased 25,000 shares for approximately $0.4 million, bringing the total cumulative repurchases since 2007 to 6.0 million shares. The remaining authorization under the program as of March 31, 2014, was 558,323 shares.
Financial Highlights
53 data points| Revenue | $321.38M |
| Cost of Revenue | $269.23M |
| Gross Profit | $52.15M |
| SG&A Expenses | $50.38M |
| Operating Income | $1.90M |
| Interest Expense | $336K |
| Net Income | $375K |
| EPS (Basic) | $0.01 |
| EPS (Diluted) | $0.01 |
| Shares Outstanding (Basic) | 37.58M |
| Shares Outstanding (Diluted) | 37.89M |
Key Highlights
- 1Comfort Systems USA Inc. is subject to legal proceedings, but management currently believes they will not materially impact financial results.
- 2The company continues its stock repurchase program, demonstrating a commitment to returning capital to shareholders.
- 3During Q1 2014, FIX repurchased 25,000 shares of its common stock for approximately $0.4 million.
- 4As of March 31, 2014, a total of 6.0 million shares had been repurchased under the program since its inception in 2007.
- 5There is remaining authorization to repurchase up to 558,323 shares under the stock repurchase program.
- 6No unregistered sales of equity securities occurred during the reporting period.
- 7The company refers investors to its 2013 10-K for a comprehensive discussion of risk factors.