Primoris Services Corp. (PRIM) posted fourth-quarter 2011 net income of $12.47 million versus $12.25 million in the prior-year quarter, with quarterly earnings per share remaining flat at $0.24.
Revenues for the 2011 fourth quarter rose 12% to $373.1 million from $333.2 million in the earlier year period, mainly due to higher revenues at the West Construction Services segment, led by the California-based Underground group at which revenues grew by $66.3 million from the 2010 period.
In addition, the company announced that on February 24, 2012, its board declared a $0.03 per share cash dividend to stockholders of record as of March 30, 2012, payable on or about April 16, 2012.
by RTT Staff Writer
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