Pike Electric issues fiscal year forecast

By Associated Press
September 4, 2008 | Comments (0)

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Pike Electric Corp. on Thursday said it expects earnings for the recently begun year to total 55 cents to 65 cents per share.

The power services contractor also predicts revenue will total $620 million to $650 million for the year ending June 30, 2009.

On average, analysts polled by Thomson Reuters forecast quarterly earnings of 75 cents a share on revenue of $590.7 million.

The Mount Airy, N.C., company on Thursday reported that its earnings for the fiscal year ended June 30 totaled 60 cents a share, while revenue came in at $552 million.

Pike Electric's stock ended up 29 cents at $19. The shares have traded between $12.75 and $21.16 in the past 12 months.

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