<PAGE> 1
Filed Pursuant to Rule 424(b)(3)
Registration Number 333-50031
PROSPECTUS SUPPLEMENT DATED AUGUST 14, 1998 TO PROSPECTUS DATED APRIL 30, 1998
Integrated Electrical Services, Inc. reported operating results for the
nine and three months ended June 30, 1998 as follows:
INTEGRATED ELECTRICAL SERVICES, INC.
SUMMARY RESULTS OF OPERATIONS
(Dollars in Thousands, Except Per Share Amounts)
(Unaudited)
<TABLE>
<CAPTION>
Nine Months Ended Three Months Ended
June 30, June 30,
----------------------- -----------------------
1997 1998 1997 1998
--------- --------- --------- ---------
(Pro Forma) (Pro Forma)
<S> <C> <C> <C> <C>
Revenue .......................................... $ 250,296 $ 303,077 $ 87,258 $ 115,287
Gross profit ..................................... 51,408 64,948 17,719 23,993
Operating income ................................. 20,673 27,851 7,781 10,700
Income before taxes .............................. 20,332 27,915 7,529 10,872
Net income ....................................... $ 11,459 $ 16,063 $ 4,345 $ 6,381
Basic earnings per share ......................... $ .45 $ .62 $ .17 $ .24
Diluted earnings per share ....................... $ .45 $ .61 $ .17 $ 24
Shares used in the computation of earnings
per share -
Basic .................................... 25,555,336 25,859,032 25,555,336 26,475,914
Diluted .................................. 25,675,336 26,216,281 25,675,336 27,151,005
</TABLE>
INTEGRATED ELECTRICAL SERVICES, INC.
CONSOLIDATED SUMMARY RESULTS OF OPERATIONS
(Dollars in Thousands, Except Per Share Amounts)
(Unaudited)
<TABLE>
<CAPTION>
Nine Months Ended Three Months Ended
June 30, June 30,
----------------------- -----------------------
1997 1998 1997 1998
--------- --------- --------- ---------
<S> <C> <C> <C> <C>
Revenue .......................................... $ 79,847 $ 219,620 $ 30,746 $ 115,287
Gross profit ..................................... 14,658 46,200 5,622 23,993
Non-cash non-recurring compensation charge
in connection with the Acquisitions .......... -- 17,036 -- --
Operating income (loss) .......................... 4,488 (2,046) 2,128 10,700
Income (loss) before taxes ....................... 4,532 (1,698) 2,143 10,872
Net income (loss) ................................ $ 2,685 $ (8,141) $ 1,326 $ 6,381
Basic earnings per share ......................... $ .60 $ (.49) $ .30 $ .24
Diluted earnings per share ....................... $ .60 $ (.49) $ .30 $ .24
Shares used in the computation of earnings
per share -
Basic ................................... 4,492,039 16,757,359 4,492,039 26,475,914
Diluted ................................. 4,492,039 16,757,359 4,492,039 27,151,005
</TABLE>
Total pro forma combined revenues for the nine months ended June 30,
1998 rose 21% to $303.1 million from $250.3 million for the comparable period of
fiscal 1997. Pro forma combined operating income for the first nine months of
1998 grew to $27.9 million, a 35% increase over the $20.7 million reported in
the same period last year. Pro forma combined net income for the nine-month
period increased to $16.1 million, or $0.61 per diluted share, versus $11.5
million, or $0.45 per diluted share, reported for the first nine months of
fiscal 1997, representing a 36% increase in earnings per diluted share.
Total revenues for the third quarter of fiscal 1998 were $115.3
million, a 28% increase over the $87.3 million reported in the comparable
quarter last year. Operating income rose 37% to $10.7 million from $7.8 million
in the third quarter last year. Net income for the quarter grew to $6.4 million,
or $0.24 per diluted share, a 41% increase in earnings per diluted share over
net income of $4.3 million, or $0.17 per diluted share, for the third quarter of
fiscal 1997.
