News Article | February 21, 2017
Dedicated to bringing the most relevant information, education, and best practices to emergency care providers, Integrative Emergency Services’ Quality Summit is the largest conference in Texas focused solely on improving quality of care in emergency medicine. The 4th Annual Quality Summit — held on February 15 at the Irving Convention Center — included educational sessions, a contest for the best research in quality care, and an awards luncheon. This year’s summit focused on patient safety and featured keynote speaker John J. Nance, healthcare and aviation safety/quality expert and award-winning author of "Why Hospitals Should Fly: The Ultimate Flight Plan to Patient Safety and Quality Care." Nance’s address featured practical solutions on how to improve the quality of patient care by bridging the culture and communication disconnect between physicians, nurses, and staff. This year’s event brought together more than 300 clinical and hospital leaders. “When you convene the best and brightest in emergency medicine, you promote collaborative collisions that lead to new ideas and innovation in emergency medicine,” said IES CEO Nick Zenarosa, MD, FACEP. “These health care leaders not only deliver the best in emergency care, but they are developing solutions that impact global health through research, education, leadership, knowledge translation, and clinical outreach in emergency medicine.” Ali Farzad, MD, FAAEM received the John Marx Quality Award for high quality of work, exemplary service, and pursuit of excellence in emergency medicine. Dr. Farzad completed his residency and a fellowship in cardiovascular emergencies at the University of Maryland School of Medicine. He is currently a board-certified emergency physician at Baylor University Medical Center in Dallas. Seamus Lonergan, MD, FACEP, received the Dighton Packard Leadership Award for inspirational and effective leadership in making an extraordinary difference in emergency medicine. Dr. Lonergan began his medical training at the University of California - San Francisco and did his residency in emergency medicine at Highland General Hospital in Oakland. He serves as an emergency physician at Baylor University Medical Center - Dallas and is the Medical Director at the Baylor Scott & White - Irving emergency department. Diane Taylor, NP, received the APP Service Award for exceptional work ethic, undaunted devotion, team spirit, and outstanding patient care in emergency medicine. Taylor earned a bachelor’s in nursing and a master’s in nursing administration from Baylor University. She also holds a Nurse Practitioner certification and has been with the Baylor healthcare system in Grapevine for 16 years. In the Quality Poster Contest, awards were given to IES providers for original research on critical quality-of-care issues. First place: Dr. John S. Garrett, Dr. Ali Farzad, Dr. Seamus Lonergan, and Dr. Robert Risch evaluated the ADP and HEART protocol that reduced unnecessary hospital admissions for chest pain by 10% in nine North Texas hospitals. Second place: Dr. John S. Garrett and Dr. Robert Risch implemented a methodology to benchmark radiology imaging utilization, which over the first nine months was reduced by 12% — amounting to a cost savings of $1.1 million — while maintaining quality of care. Third place: The Department of Emergency Medicine at John Peter Smith Health Network, Fort Worth studied optimal measurement intervals for four emergency department crowding estimation tools to find a way to lessen the burden on ED personnel by reducing the frequency with which they should assess overcrowding. Educational sessions included these topics: Introduction to a Culture of Safety, A Safe Emergency Department, Avoiding Medical Errors, Quality and Communication, Identifying Human Trafficking, Legal Cases, and Critical Procedures. This year’s Quality Summit included 300 attendees with 269 clinicians, more than 60 hospital administrators, and 50 guests. There were 29 exhibitor booths. About IES: Integrative Emergency Services partners with Texas hospitals to provide the best patient encounter in emergency care. By providing experienced physician leaders and advanced practice practitioners, the IES team delivers uncompromising dedication, exceptional expertise, inspired and integrated collaboration, and second-to-none patient care. Learn more at www.ies.healthcare.
News Article | December 5, 2016
SAN FRANCISCO, Dec. 5, 2016 /PRNewswire/ -- Arup, a multidisciplinary engineering and consulting firm that delivers innovative and sustainable designs; Argos Analytics, LLC, a provider of cost effective climate data services; and Integrated Environmental Solutions Limited (IES), a global...
News Article | December 9, 2016
HOUSTON, Dec. 09, 2016 (GLOBE NEWSWIRE) -- IES Holdings, Inc. (or “IES” or the “Company”) (NASDAQ:IESC) today announced financial results for the quarter and year ended September 30, 2016. Management Commentary Robert Lewey, President, stated, “We believe that fiscal 2016 was a watershed year as we demonstrated our ability to acquire strong businesses, expand our legacy operations and maintain a healthy balance sheet that we believe will support our strategy into the foreseeable future. Equally important, we became a more diversified and balanced company in 2016. Collectively, the five acquisitions that we have completed since mid-2015 are performing as expected, which, coupled with the strength of our legacy businesses, resulted in our highest level of operating income since 2003. Looking forward into 2017, our backlog is up significantly year-over-year, the composition of our backlog is more balanced, and, with total liquidity of over $65 million, we believe we are well positioned to continue to execute our organic and acquisition investment strategies.” “Given our continued sustained profitability and financial outlook, we now believe that it is more likely than not that we will monetize a significant portion of our deferred tax assets, which include all of our federal and some of our state net operating losses. This expectation requires us to release our tax valuation allowances and, as a result, these deferred tax assets are now reflected on our balance sheet. As part of this release, our net income for the fourth quarter of 2016 increased by $93.0 million related to future cash tax benefits. Although this change will result in a higher effective tax rate and GAAP income tax expense in future periods, we expect our cash tax rate to be approximately 7% to 11% as we utilize our NOLs,” commented Tracy McLauchlin, Chief Financial Officer. Ms. McLauchlin continued, “Importantly, from a cash flow perspective, we will continue to use our net deferred tax assets to reduce our net cash tax exposure. In an effort to better assist investors, we plan to expand our future disclosures to reflect the significant difference between our expected tax provision and our expected cash taxes payable. We are also closely monitoring any change in the federal tax rate as such a change would impact the value of our net deferred tax assets and our future earnings.” Release of Tax Valuation Allowances The Company has significant net deferred tax assets, which include our federal and state net operating loss carryforwards (“NOLs”). Due to the uncertainty of future use of these net deferred tax assets, IES had, through its third quarter fiscal 2016 financial statements, maintained a valuation allowance offsetting a substantial portion of the deferred tax assets. After an analysis of its recent history of cumulative earnings and forecasted future taxable income, IES has determined that it is more likely than not that it will utilize a significant portion of the deferred tax assets and therefore is releasing substantially all of the remaining valuation allowance effective as of September 30, 2016. During the year ended September 30, 2016, IES released $109 million of valuation allowance, $93 million of which relates to deferred tax assets expected to be utilized in future periods. The remaining $16 million of valuation allowance release relates to 2016 earnings, as well as business combinations which occurred in 2016. If the Company is unable to generate sufficient taxable income in the future to utilize its NOLs, it could be required to record an additional valuation allowance, resulting in an increase in income tax expense and reducing its consolidated net income. Net Operating Loss Carryforwards The Company estimates that it has available NOLs for U.S. federal income tax purposes of approximately $404 million at September 30, 2016, including approximately $142 million resulting from the additional amortization of personal goodwill. The Company's common stock is subject to a new Rights Plan dated November 8, 2016, which is intended to assist in limiting the number of 5% or more owners of the Company’s common stock and, thereby, reduce the risk of a possible “change of ownership” under Section 382 of the Internal Revenue Code of 1986, as amended. Any such “change of ownership” under these rules would limit or eliminate the ability of the Company to use its existing NOLs for federal income tax purposes. There is no guarantee that the Rights Plan will achieve the objective of preserving the value or realization of the NOLs. Stock Buyback Plan The Company’s Board of Directors has authorized and previously announced a stock repurchase program for purchasing up to 1.5 million shares of our common stock from time to time. The Company had 970,915 shares remaining under its stock repurchase authorization at September 30, 2016. During the fiscal year ending September 30, 2016, the Company repurchased 46,929 shares at an average price of $11.07 per share. The Company did not repurchase any of its common stock during the three months ended September 30, 2016. Non-GAAP Financial Measures and Other Adjustments This press release includes adjusted net income attributable to IES and, in the non-GAAP reconciliation table included herein, adjusted net income before taxes, both of which are financial measures not calculated in accordance with generally accepted accounting principles in the U.S. (“GAAP”). Management believes that these measures provide useful information to our investors by distinguishing certain noncash events such as our valuation allowances release and certain acquisition and disposition related items, and that, these measures, when reconciled to net income attributable to IES, which is the most directly comparable GAAP measure, help our investors to better identify underlying trends in the operations of our business and facilitate easier comparisons of our financial performance with prior and future periods and to our peers. Non-GAAP financial measures should not be considered in isolation from, or as a substitute for, financial information calculated in accordance with GAAP. Investors are encouraged to review the reconciliation of these non-GAAP measures to their most directly comparable GAAP financial measures. A reconciliation of these non-GAAP financial measures to GAAP results has been provided in the financial tables included in this press release. For further details on the Company’s financial results, please refer to the Company’s annual report on Form 10-K for the fiscal year ended September 30, 2016, to be filed with the Securities and Exchange Commission (“SEC”) by December 9, 2016, and any amendments thereto. About IES Holdings, Inc. IES is a holding company that owns and manages diverse operating subsidiaries, comprised of providers of industrial infrastructure services to a variety of end markets. Our over 4,000 employees serve clients in the United States. For more information about IES, please visit www.ies-co.com. Certain statements in this release may be deemed "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, all of which are based upon various estimates and assumptions that the Company believes to be reasonable as of the date hereof. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "could," "should," "expect," "plan," "project," "intend," "anticipate," "believe," "seek," "estimate," "predict," "potential," "pursue," "target," "continue," the negative of such terms or other comparable terminology. These statements involve risks and uncertainties that could cause the Company's actual future outcomes to differ materially from those set forth in such statements. Such risks and uncertainties include, but are not limited to, the ability of our controlling shareholder to take action not aligned with other shareholders; the possibility that certain tax benefits of our net operating losses may be restricted or reduced in a change in ownership; the potential recognition of valuation allowances on net deferred tax assets; the inability to carry out plans and strategies as expected, including our inability to identify and complete acquisitions that meet our investment criteria in furtherance of our corporate strategy; competition in the industries in which we operate, both from third parties and former employees, which could result in the loss of one or more customers or lead to lower margins on new projects; fluctuations in operating activity due to downturns in levels of construction, seasonality and differing regional economic conditions; and our ability to successfully manage projects, as well as other risk factors discussed in this document and in the Company's annual report on Form 10-K for the year ended September 30, 2016 and in the Company’s other reports on file with the SEC. You should understand that such risk factors could cause future outcomes to differ materially from those experienced previously or those expressed in such forward-looking statements. The Company undertakes no obligation to publicly update or revise any information, including information concerning its controlling shareholder, net operating losses, borrowing availability, or cash position, or any forward-looking statements to reflect events or circumstances that may arise after the date of this release. Forward-looking statements are provided in this press release pursuant to the safe harbor established under the Private Securities Litigation Reform Act of 1995 and should be evaluated in the context of the estimates, assumptions, uncertainties, and risks described herein. General information about IES Holdings, Inc. can be found at http://www.ies-co.com under "Investors." The Company's annual report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K, as well as any amendments to those reports, are available free of charge through the Company's website as soon as reasonably practicable after they are filed with, or furnished to, the SEC.
Durogbitan A.A.,IES Inc
Journal of African Earth Sciences | Year: 2016
Throw distribution analysis of the key stratigraphic surfaces (sequence boundaries and maximum flooding surfaces) across faults has allowed detailed investigation of the tectonic history within the Ewan and Oloye fields, northwestern Niger delta. The structure in the studied area is dominated by growth fault systems which are listric in cross section and concave to the basin in plan-view. Generally, the faults are active down to 2000 m depth before they die out or sole into the underlying shale. The hanging-wall blocks of growth faults are deformed into broad rollover anticlines, with some synthetic and antithetic faults initiated from the anticline crests, and fault splays off major faults, further complicating these structures. Stratigraphic key surfaces within the syn-faulting succession range in age from 16.7 to 10.35 Ma.Periods of maximum and minimum throw are established from 2-Dimensional throw distribution on the growth fault plane. Throw distribution allows analysis of growth fault nucleation, propagation and linkage. Each fault nucleated at different and a distinct interval within the stratigraphic section, as a result of the paleo-stress distribution between the interacting faults. Nucleation and linkage positions can be identified at points of maximum and minimum throw respectively. Following nucleation, faults propagated radially and linked to form the present geometry. Within the study area, fault propagation and segment linkage (lateral and vertical) are important features of the fault system. Understanding of growth fault evolution and linkage has greatly improved prediction of seal potential, trap geometry and migration. The accurate timing of the segment linkage has helped to evaluate the seal risk. © 2016 Elsevier Ltd.
IES Inc | Date: 2016-10-06
IES Inc | Date: 2016-10-06
IES Inc | Date: 2016-10-06
IES Inc | Date: 2016-10-31
IES Inc | Date: 2016-08-18