1048268--12/14/2009--INTEGRATED_ELECTRICAL_SERVICES

related topics

{tax, income, asset}

{debt, indebtedness, cash}

{condition, economic, financial}

{acquisition, growth, future}

{cost, operation, labor}

{loss, insurance, financial}

{capital, credit, financial}

{control, financial, internal}

{operation, natural, condition}

{competitive, industry, competition}

{gas, price, oil}

Availability of net operating losses may be reduced by a change in ownership. We may be unsuccessful at generating internal growth. To service our indebtedness and to fund working capital, we will require a significant amount of cash. Our ability to generate cash depends on many factors that are beyond our control. The highly competitive nature of our industry could affect our profitability by reducing our profit margins. Backlog may not be realized or may not result in profits. Our use of percentage-of-completion accounting could result in a reduction or elimination of previously reported profits. The availability and cost of surety bonds affect our ability to enter into new contracts and our margins on those engagements. Due to seasonality and differing regional economic conditions, our results may fluctuate from period to period. The estimates we use in placing bids could be materially incorrect. The use of incorrect estimates could result in losses on a fixed price contract. These losses could be material to our business. Commodity costs may fluctuate materially and we may not be able to pass on all cost increases during the term of a contract. We may be unsuccessful at integrating companies that we may acquire. We may experience difficulties in managing our billings and collections. We have restrictions and covenants under our credit facility. We may be unsuccessful in renewing or replacing our existing credit facility upon maturity at May 12, 2010. Our reported operating results could be adversely affected as a result of goodwill impairment write-offs. The vendors who make up our supply chain may be adversely affected by the current operating environment and credit market conditions. Our operations are subject to numerous physical hazards associated with the construction of electrical systems. If an accident occurs, it could result in an adverse effect on our business. Our internal controls over financial reporting and our disclosure controls and procedures may not prevent all possible errors that could occur. Internal controls over financial reporting and disclosure controls and procedures, no matter how well designed and operated, can provide only reasonable, not absolute, assurance that the control system s objective will be met.

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1048268--12/14/2009--INTEGRATED_ELECTRICAL_SERVICES_INC