UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of report (Date of earliest event reported): May 31, 2006
INTEGRATED ELECTRICAL SERVICES, INC.
(Exact name of registrant as specified in its charter)
| Delaware | 001-13783 | 76-0542208 | ||
| (State or other jurisdiction of incorporation) |
(Commission File Number) | (IRS Employer Identification No.) |
| 1800 West Loop South, Suite 500 Houston, Texas |
77027 | |
| (Address of principal executive offices) | (Zip Code) |
Registrant’s telephone number, including area code: (713) 860-1500
(Former name or former address, if changed since last report): Not applicable
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
SECTION 7 REGULATION FD
Item 7.01 Regulation FD Disclosure
On May 31, 2006, Integrated Electrical Services, Inc. and certain of its direct and indirect subsidiaries (collectively, the “Debtors”), filed their Monthly Operating Report covering the month ended April 30, 2006 (the “Monthly Operating Report”), with the United States Bankruptcy Court for the Northern District of Texas, Dallas Division (the “Bankruptcy Court”). A copy of the Monthly Operating Report is attached to, and incorporated by reference in, this Current Report on Form 8-K as Exhibit 99.1.
The Monthly Operating Report is limited in scope, covers a limited time period, and has been prepared solely for the purpose of complying with the monthly reporting requirements of the Bankruptcy Court. The financial information in the Monthly Operating Report is un-audited and does not purport to show the financial statements of any of the Debtors in accordance with accounting principles generally accepted in the United States (“GAAP”), and therefore excludes items required by GAAP, such as certain reclassifications, eliminations, accruals, and disclosure items. The Debtors caution readers not to place undue reliance upon the Monthly Operating Report. There can be no assurance that such information is complete. The Monthly Operating Report may be subject to revision. The Monthly Operating Report is in a format required by the Bankruptcy Code and should not be used for investment purposes. The information in the Monthly Operating Report should not be viewed as indicative of future results.
In accordance with general instruction B.2 of Form 8-K, the information in this report (including exhibits) that is being furnished pursuant to Item 7.01 of Form 8-K shall not be deemed to be “filed” for the purposes of Section 18 of the Exchange Act, or otherwise subject to liabilities of that section, nor shall they be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as expressly set forth in such filing. This report will not be deemed an admission as to the materiality of any information in the report that is required to be disclosed solely by Regulation FD.
This current report on Form 8-K includes certain statements that may be deemed to be “forward looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the Company’s expectations and involve risks and uncertainties that could cause the Company’s actual results to differ materially from those set forth in the statements. Such risks and uncertainties include, but are not limited to, the residual effect with customers and vendors from the bankruptcy process, the delayed effect of less new projects awarded to the company during the bankruptcy and its effect on future financial results, the lowered efficiency and higher costs associated with projects at subsidiaries that the company has determined to wind down or close, the loss of employees during the bankruptcy process and the winding down of subsidiaries, distraction of management time in winding down and closing subsidiaries, high costs associated with exit facilities and exiting bankruptcy, the Securities and Exchange Commission investigation of the Company and the Well’s notices received by the Company and one of its officers in connection therewith. You should understand that the foregoing important factors, in addition to those discussed in our other filings with the Securities and Exchange Commission, including those under the heading ‘Risk Factors” contained in our annual report on Form 10-K for the fiscal year ended September 30, 2005 and our quarterly reports on Form 10-Q for the quarters ended December 31, 2005 and March 31, 2006, could affect our future results and could cause results to differ materially from those expressed in such forward-looking statements. We undertake no obligation to publicly update or revise the Company’s borrowing availability, its cash position or any forward-looking statements to reflect events or circumstances that may arise after the date of this report.
1
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
| (c) | Exhibits. |
| Exhibit Number |
Description | ||
| 99.1 | * | Monthly Operating Report for the month of April 2006 |
| * | Furnished herewith |
2
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| INTEGRATED ELECTRICAL SERVICES, INC. | ||
| By: | /s/ Curt L. Warnock | |
| Curt L. Warnock | ||
| Senior Vice President and General Counsel | ||
Date: June 1, 2006
3
EXHIBIT INDEX
| Exhibit Number |
Description | ||
| 99.1 | * | Monthly Operating Report for the month of April 2006. |
| * | Filed herewith |
4
Exhibit 99.1
Monthly Operating Report
| CASE NAME: INTEGRATED ELECTRICAL SERVICES, INC., ET AL. | ACCRUAL BASIS | |||
| CASE NUMBER: | 06-30602-BJH-11 Chapter 11 | rwd, 1/05 | ||
| JUDGE: | HOUSER | |||
UNITED STATES BANKRUPTCY COURT
NORTHERN DISTRICT OF TEXAS
DIVISION 6
MONTHLY OPERATING REPORT
MONTH ENDING: April 30, 2006
IN ACCORDANCE WITH TITLE 28, SECTION 1746, OF THE UNITED STATES CODE, I DECLARE UNDER PENALTY OF PERJURY THAT I HAVE EXAMINED THE FOLLOWING MONTHLY OPERATING REPORT (ACCRUAL BASIS-1 THROUGH ACCRUAL BASIS-7) AND THE ACCOMPANYING ATTACHMENTS AND, TO THE BEST OF MY KNOWLEDGE, THESE DOCUMENTS ARE TRUE, CORRECT AND COMPLETE. DECLARATION OF THE PREPARER (OTHER THAN RESPONSIBLE PARTY): IS BASED ON ALL INFORMATION OF WHICH PREPARER HAS ANY KNOWLEDGE.
RESPONSIBLE PARTY:
| /s/ David A. Miller |
Senior Vice President & Chief Financial Officer | |
| ORIGINAL SIGNATURE OF RESPONSIBLE PARTY | TITLE | |
| David A. Miller |
May 31, 2006 | |
| PRINTED NAME OF RESPONSIBLE PARTY | DATE | |
| PREPARER: | ||
|
|
| |
| ORIGINAL SIGNATURE OF PREPARER | TITLE | |
|
|
| |
| PRINTED NAME OF PREPARER | DATE | |
1 of 16
Monthly Operating Report
| LOCATION NAME: INTEGRATED ELECTRICAL SERVICES, INC., ET AL. | ACCRUAL BASIS-1 | |
| CASE NUMBER: 06-30602-BJH-11 Chapter 11 | rwd, 1/05 | |
COMPARATIVE BALANCE SHEET
| ALL DOLLAR AMOUNTS IN THOUSANDS | |||||||||||||||||
| SCHEDULE AMOUNT |
MONTH April 30, 2006 (3) |
MONTH March 31, 2006 |
MONTH February 28, 2006 |
||||||||||||||
| ASSETS |
|||||||||||||||||
| 1. | UNRESTRICTED CASH |
12,463 | 14,496 | 12,764 | |||||||||||||
| 2. | RESTRICTED CASH |
20,132 | 20,060 | 20,000 | |||||||||||||
| 3. | TOTAL CASH |
$ | — | $ | 32,595 | $ | 34,556 | $ | 32,764 | ||||||||
| 4. | ACCOUNTS RECEIVABLE (NET) |
0 | 166,166 | 163,397 | 168,646 | ||||||||||||
| 5. | INVENTORY |
24,402 | 23,579 | 23,935 | |||||||||||||
| 6. | NOTES RECEIVABLE |
0 | 0 | ||||||||||||||
| 7. | PREPAID EXPENSES |
24,451 | 24,518 | 30,659 | |||||||||||||
| 8. | OTHER (ATTACH LIST) |
69,585 | 66,930 | 69,740 | |||||||||||||
| 9. | TOTAL CURRENT ASSETS |
$ | — | $ | 317,199 | $ | 312,980 | $ | 325,744 | ||||||||
| 10. | PROPERTY, PLANT & EQUIPMENT |
80,981 | 81,178 | 81,027 | |||||||||||||
| 11. | LESS: ACCUMULATED |
||||||||||||||||
| DEPRECIATION / DEPLETION |
59,661 | 59,393 | 58,445 | ||||||||||||||
| 12. | NET PROPERTY, PLANT & |
||||||||||||||||
| EQUIPMENT |
$ | — | $ | 21,320 | $ | 21,785 | $ | 22,582 | |||||||||
| 13. | DUE FROM INSIDERS |
0 | 0 | 0 | |||||||||||||
| 14. | OTHER ASSETS - NET OF |
||||||||||||||||
| AMORTIZATION (ATTACH LIST) |
24,343 | 24,343 | 24,343 | ||||||||||||||
| 15. | OTHER (ATTACH LIST) |
7,045 | 7,044 | 12,066 | |||||||||||||
| 16. | TOTAL ASSETS |
$ | — | $ | 369,907 | $ | 366,152 | $ | 384,735 | ||||||||
| POSTPETITION LIABILITIES | |||||||||||||||||
| 17. | ACCOUNTS PAYABLE |
48,250 | 40,397 | 25,081 | |||||||||||||
| 18. | TAXES PAYABLE |
3,477 | 3,968 | 2,394 | |||||||||||||
| 19. | NOTES PAYABLE |
0 | 0 | 0 | |||||||||||||
| 20. | PROFESSIONAL FEES |
4,355 | 1,519 | 1,250 | |||||||||||||
| 21. | SECURED DEBT (1) |
0 | 0 | 0 | |||||||||||||
| 22. | OTHER (ATTACH LIST) |
62,325 | 54,200 | 43,121 | |||||||||||||
| 23. | TOTAL POSTPETITION LIABILITIES |
$ | — | $ | 118,407 | $ | 100,084 | $ | 71,846 | ||||||||
| PREPETITION LIABILITIES | |||||||||||||||||
| 24. | SECURED DEBT |
11 | 12 | 41 | |||||||||||||
| 25. | PRIORITY DEBT (2) |
41 | 6,361 | 32,762 | |||||||||||||
| 26. | UNSECURED DEBT |
253,192 | 258,418 | 257,425 | |||||||||||||
| 27. | OTHER (ATTACH LIST) |
19,246 | 18,680 | 22,050 | |||||||||||||
| 28. | TOTAL PREPETITION LIABILITIES |
$ | — | $ | 272,490 | $ | 283,471 | $ | 312,278 | ||||||||
| 29. | TOTAL LIABILITIES |
$ | — | $ | 390,897 | $ | 383,555 | $ | 384,124 | ||||||||
| EQUITY | |||||||||||||||||
| 30. | PREPETITION OWNERS’ EQUITY |
$ | 6,034 | 6,034 | $ | 6,014 | |||||||||||
| 31. | POSTPETITION CUMULATIVE PROFIT OR (LOSS) |
(27,024 | ) | (23,437 | ) | ($ | 5,403 | ) | |||||||||
| 32. | DIRECT CHARGES TO EQUITY (ATTACH EXPLANATION) |
||||||||||||||||
| 33. | TOTAL EQUITY |
$ | — | $ | (20,990 | ) | $ | (17,403 | ) | $ | 611 | ||||||
| 34. | TOTAL LIABILITIES & OWNERS’ EQUITY |
$ | — | $ | 369,907 | $ | 366,152 | $ | 384,735 | ||||||||
| (1) | The court has authorized debtor-in-possession financing from each of Bank of America, Chubb, Suretec and IBCS. However, there are no outstanding borrowings as of April 30, 2006. |
| (2) | Includes an estimate of outstanding priority claims attributable to goods received within 20 days of the petition date. |
| (3) | Does not include the effect of “fresh start” accounting as required under Statement of Position 90-7. The Company is evaluating what impact, if any, “fresh start” accounting will have on its financial position. |
2 of 16
Monthly Operating Report
| LOCATION NAME: INTEGRATED ELECTRICAL SERVICES, INC., ET AL. | ACCRUAL BASIS-1 | |
| CASE NUMBER: 06-30602-BJH-11 Chapter 11 | rwd, 1/05 | |
COMPARATIVE BALANCE SHEET- Detail of “Other” Lines
| ALL DOLLAR AMOUNTS IN THOUSANDS | ||||||||||||
| SCHEDULE AMOUNT |
MONTH April 2006 |
MONTH March |
MONTH February 2006 | |||||||||
| ASSETS |
||||||||||||
| OTHER ASSETS, Current- Line 8 |
||||||||||||
| Retained Funds on Contracts |
39,624 | 41,377 | 40,295 | |||||||||
| Contract Underbillings |
26,570 | 22,447 | 24,808 | |||||||||
| Deferred Tax Asset, net of valuation allowance |
2,319 | 2,319 | 2,312 | |||||||||
| Other Miscellaneous |
1,072 | 787 | 2,325 | |||||||||
| Total Other Current Assets |
$ | — | $ | 69,585 | $ | 66,930 | $ | 69,740 | ||||
| OTHER ASSETS, Non-Current: Other Assets, Net of Amortization - Line 14 | ||||||||||||
| Goodwill |
$ | 24,343 | $ | 24,343 | $ | 24,343 | ||||||
| Total Other Non-Current Assets, Net of Amortization |
$ | — | $ | 24,343 | $ | 24,343 | $ | 24,343 | ||||
| OTHER ASSETS: Non-Current Other Assets - Line 15 |
||||||||||||
| Investments |
3,339 | $ | 3,339 | $ | 3,562 | |||||||
| Deferred Financing Costs and other |
389 | 388 | 5,203 | |||||||||
| Long Term Notes Receivable |
1,985 | 1,985 | 1,969 | |||||||||
| Deferred Tax Asset, net of valuation allowance |
1,332 | 1,332 | 1,332 | |||||||||
| Total Other Non-Current Assets |
$ | — | $ | 7,045 | $ | 7,044 | $ | 12,066 | ||||
3 of 16
Monthly Operating Report
| LOCATION NAME: INTEGRATED ELECTRICAL SERVICES, INC., ET AL. | ACCRUAL BASIS-2 | |
| CASE NUMBER: 06-30602-BJH-11 Chapter 11 | rwd, 1/05 | |
COMPARATIVE BALANCE SHEET- Detail of “Other” Lines
| ALL DOLLAR AMOUNTS IN THOUSANDS | |||||||||||||
| SCHEDULE AMOUNT |
MONTH April 2006 |
MONTH March 2006 |
MONTH February 2006 | ||||||||||
| LIABILITIES |
|||||||||||||
| OTHER LIABILITIES: Post-Petition - Line 22 |
|||||||||||||
| Accrued Compensation and Other Expenses |
31,155 | 28,894 | 20,833 | ||||||||||
| Contract Overbillings |
29,072 | 23,250 | 21,049 | ||||||||||
| Reserve for Contract Losses |
2,098 | 2,056 | 1,239 | ||||||||||
| Total Other Liabilities |
$ | — | $ | 62,325 | $ | 54,200 | $ | 43,121 | |||||
| OTHER LIABILITIES: Pre-Petition - Line 27 |
|||||||||||||
| Accrued Compensation and Other Expenses |
3,960 | 3,148 | 6,149 | ||||||||||
| Reserve for Contract Losses |
18 | 134 | 382 | ||||||||||
| Deferred Tax Liabilities |
15,268 | 15,519 | 15,519 | ||||||||||
| Miscellaneous |
0 | (121 | ) | ||||||||||
| Total Other Pre-Petition Liabilities |
$ | — | $ | 19,246 | $ | 18,680 | $ | 22,050 | |||||
4 of 16
Monthly Operating Report
| LOCATION NAME: INTEGRATED ELECTRICAL SERVICES, INC., ET AL. | ACCRUAL BASIS-2 | |
| CASE NUMBER: 06-30602-BJH-11 Chapter 11 | rwd, 1/05 | |
INCOME STATEMENT
| ALL DOLLAR AMOUNTS IN THOUSANDS | ||||||||||||||||||
| April 2006 (2) | March 2006 (2) | February 2006 (1) | QUARTER TOTAL |
|||||||||||||||
| REVENUES |
||||||||||||||||||
| 1. | GROSS REVENUES |
81,888 | 85,179 | 38,799 | 205,865 | |||||||||||||
| 2. | LESS: RETURNS & DISCOUNTS |
0 | 0 | 0 | 0 | |||||||||||||
| 3. | NET REVENUE |
$ | 81,888 | $ | 85,179 | $ | 38,799 | $ | 205,865 | |||||||||
| COST OF GOODS SOLD | ||||||||||||||||||
| 4. | MATERIAL |
34,760 | 40,424 | 18,619 | 93,802 | |||||||||||||
| 5. | DIRECT LABOR |
20,873 | 24,201 | 8,826 | 53,900 | |||||||||||||
| 6. | DIRECT OVERHEAD |
15,395 | 12,756 | 6,144 | 34,294 | |||||||||||||
| 7. | TOTAL COST OF GOODS SOLD |
$ | 71,028 | $ | 77,381 | $ | 33,588 | $ | 181,997 | |||||||||
| 8. | GROSS PROFIT |
$ | 10,860 | $ | 7,798 | $ | 5,211 | $ | 23,869 | |||||||||
| OPERATING EXPENSES | ||||||||||||||||||
| 9. | OFFICER / INSIDER COMPENSATION |
253 | 253 | 127 | 634 | |||||||||||||
| 10. | SELLING & MARKETING |
606 | 493 | 165 | 1,263 | |||||||||||||
| 11. | GENERAL & ADMINISTRATIVE |
9,073 | 11,597 | 4,967 | 25,637 | |||||||||||||
| 12. | RENT & LEASE |
300 | 743 | 425 | 1,468 | |||||||||||||
| 13. | OTHER (ATTACH LIST) |
0 | 0 | 0 | 0 | |||||||||||||
| 14. | TOTAL OPERATING EXPENSES |
$ | 10,232 | $ | 13,086 | $ | 5,683 | $ | 29,001 | |||||||||
| 15. | INCOME BEFORE NON-OPERATING INCOME & EXPENSE |
$ | 628 | $ | (5,288 | ) | $ | (473 | ) | $ | (5,133 | ) | ||||||
| OTHER INCOME & EXPENSES | ||||||||||||||||||
| 16. | NON-OPERATING INCOME (ATT. LIST) |
172 | 0 | 82 | 254 | |||||||||||||
| 17. | NON-OPERATING EXPENSE (ATT. LIST) |
0 | 0 | 10 | 10 | |||||||||||||
| 18. | INTEREST EXPENSE |
464 | (122 | ) | 821 | 1,163 | ||||||||||||
| 19. | DEPRECIATION / DEPLETION |
0 | 0 | 0 | 0 | |||||||||||||
| 20. | AMORTIZATION |
447 | 525 | 4,050 | 5,022 | |||||||||||||
| 21. | OTHER (ATTACH LIST) |
(32 | ) | 232 | 57 | 257 | ||||||||||||
| 22. | NET OTHER INCOME & EXPENSES |
$ | 707 | $ | 635 | $ | 4,856 | $ | 6,197 | |||||||||
| REORGANIZATION EXPENSES | ||||||||||||||||||
| 23. | PROFESSIONAL FEES |
3,585 | 8,151 | 0 | 11,736 | |||||||||||||
| 24. | U.S. TRUSTEE FEES |
0 | 0 | 0 | 0 | |||||||||||||
| 25. | OTHER (ATTACH LIST) |
945 | 3,960 | 0 | 4,905 | |||||||||||||
| 26. | TOTAL REORGANIZATION EXPENSES |
$ | 4,530 | $ | 12,111 | $ | — | $ | 16,641 | |||||||||
| 27. | INCOME TAX |
150 | 75 | 225 | ||||||||||||||
| 28. | NET PROFIT (LOSS) |
$ | (4,759 | ) | $ | (18,034 | ) | $ | (5,403 | ) | $ | (28,196 | ) | |||||
| (1) | Amounts for February 2006 are estimated for the period from the petition date of February 14, 2006 through the end of the month on February 28, 2006 (half of the month). |
| (2) | Amounts for April and March 2006 include activity for the entire month, respectively. |
5 of 16
Monthly Operating Report
| LOCATION NAME: INTEGRATED ELECTRICAL SERVICES, INC., ET AL. | ACCRUAL BASIS-2 | |
| CASE NUMBER: 06-30602-BJH-11 Chapter 11 | rwd, 1/05 | |
INCOME STATEMENT
| ALL DOLLAR AMOUNTS IN THOUSANDS | |||||||||||||||
| April 2006 | March 2006 | February 2006 | QUARTER TOTAL |
||||||||||||
| OTHER: Non-Operating Income - Line 16 |
|||||||||||||||
| Third Party Interest Income |
172 | 74 | 246 | ||||||||||||
| Miscellaneous |
8 | 8 | |||||||||||||
| 0 | |||||||||||||||
| TOTAL OTHER: Non-Operating Income – Line 16 |
$ | 172 | $ | — | $ | 82 | $ | 254 | |||||||
| OTHER: Non-Operating Expense - Line 17 |
|||||||||||||||
| Miscellaneous |
0 | 10 | 10 | ||||||||||||
| 0 | |||||||||||||||
| 0 | |||||||||||||||
| TOTAL OTHER: Non-Operating Expense - Line 17 |
$ | — | $ | — | $ | 10 | $ | 10 | |||||||
| OTHER: Income & Expense - Line 21 |
|||||||||||||||
| (Gain)/Loss on Sales of Asset |
(32 | ) | 0 | 71 | 39 | ||||||||||
| Debt & Entertech Adjustments |
0 | 223 | 223 | ||||||||||||
| Other (Income) Expense |
9 | (14 | ) | (5 | ) | ||||||||||
| 0 | |||||||||||||||
| TOTAL OTHER: Income & Expense - Line 21 |
$ | (32 | ) | $ | 232 | $ | 57 | $ | 257 | ||||||
| REORGANIZATION EXPENSES- Line 25 |
|||||||||||||||
| Non-cash write-off of debt issuance costs, |
0 | 3,960 | 3,960 | ||||||||||||
| debt discounts and premiums, and |
0 | ||||||||||||||
| embedded derivative liabilities. |
0 | ||||||||||||||
| Lease Termination Costs |
$ | 945 | 945 | ||||||||||||
| TOTAL REORGANIZATION EXPENSES- Line 25 |
$ | 945 | $ | 3,960 | $ | — | $ | 4,905 | |||||||
6 of 16
Monthly Operating Report
| LOCATION NAME: INTEGRATED ELECTRICAL SERVICES, INC., ET AL. | ACCRUAL BASIS-3 | |
| CASE NUMBER: 06-30602-BJH-11 Chapter 11 | rwd, 1/05 | |
| ALL DOLLAR AMOUNTS IN THOUSANDS | |||||||||||||||||
| MONTH April 2006 (1) |
MONTH March 2006 (1) |
MONTH February 2006 (1) |
QUARTER TOTAL |
||||||||||||||
| CASH RECEIPTS AND DISBURSEMENTS |
|||||||||||||||||
| 1. | CASH - BEGINNING OF MONTH |
$ | 34,556 | $ | 32,764 | $ | 39,842 | $ | 34,556 | ||||||||
| RECEIPTS FROM OPERATIONS | |||||||||||||||||
| 2. | CASH SALES |
30 | 1,735 | 314 | 2,079 | ||||||||||||
| COLLECTION OF ACCOUNTS RECEIVABLE | |||||||||||||||||
| 3. | PREPETITION |
20,166 | 44,930 | 65,174 | 130,270 | ||||||||||||
| 4. | POSTPETITION |
58,284 | 44,545 | 16,050 | 118,879 | ||||||||||||
| 5. | TOTAL OPERATING RECEIPTS |
$ | 78,480 | $ | 91,210 | $ | 81,538 | $ | 251,228 | ||||||||
| NON - OPERATING RECEIPTS | |||||||||||||||||
| 6. | LOANS & ADVANCES (ATTACH LIST) |
0 | 30 | 120 | 150 | ||||||||||||
| 7. | SALE OF ASSETS |
(1 | ) | 42 | 6 | 47 | |||||||||||
| 8. | OTHER (ATTACH LIST) |
0 | 2,679 | (404 | ) | 2,275 | |||||||||||
| 9. | TOTAL NON-OPERATING RECEIPTS |
$ | (1 | ) | $ | 2,751 | $ | (278 | ) | $ | 2,472 | ||||||
| 10. | TOTAL RECEIPTS |
$ | 78,479 | $ | 93,961 | $ | 81,260 | $ | 253,700 | ||||||||
| 11. | TOTAL CASH AVAILABLE |
$ | 113,035 | $ | 126,725 | $ | 121,102 | $ | 288,256 | ||||||||
| OPERATING DISBURSEMENTS | |||||||||||||||||
| 12. | NET PAYROLL |
17,926 | 21,523 | 19,944 | 59,393 | ||||||||||||
| 13. | PAYROLL TAXES PAID |
7,424 | 7,171 | 6,848 | 21,443 | ||||||||||||
| 14. | SALES, USE & OTHER TAXES PAID |
549 | 734 | 786 | 2,069 | ||||||||||||
| 15. | SECURED / RENTAL / LEASES |
1,124 | 888 | 1,219 | 3,231 | ||||||||||||
| 16. | UTILITIES |
310 | 445 | 257 | 1,012 | ||||||||||||
| 17. | INSURANCE |
1,158 | 1,327 | 1,555 | 4,040 | ||||||||||||
| 18. | INVENTORY PURCHASES |
26,215 | 21,728 | 32,260 | 80,203 | ||||||||||||
| 19. | VEHICLE EXPENSES |
1,361 | 1,258 | 1,214 | 3,833 | ||||||||||||
| 20. | TRAVEL |
264 | 285 | 195 | 744 | ||||||||||||
| 21. | ENTERTAINMENT |
121 | 193 | 149 | 463 | ||||||||||||
| 22. | REPAIRS & MAINTENANCE |
158 | 205 | 117 | 480 | ||||||||||||
| 23. | SUPPLIES |
498 | 314 | 511 | 1,323 | ||||||||||||
| 24. | ADVERTISING |
13 | 61 | 62 | 136 | ||||||||||||
| 25. | OTHER (ATTACH LIST) |
22,118 | 34,520 | 21,091 | 77,729 | ||||||||||||
| 26. | TOTAL OPERATING DISBURSEMENTS |
$ | 79,239 | $ | 90,650 | $ | 86,208 | $ | 256,096 | ||||||||
| REORGANIZATION EXPENSES | |||||||||||||||||
| 27. | PROFESSIONAL FEES |
1,201 | 1,519 | 2,130 | 4,850 | ||||||||||||
| 28. | U.S. TRUSTEE FEES |
0 | 0 | 0 | 0 | ||||||||||||
| 29. | OTHER (ATTACH LIST) |
0 | 0 | 0 | 0 | ||||||||||||
| 30. | TOTAL REORGANIZATION EXPENSES |
$ | 1,201 | $ | 1,519 | $ | 2,130 | $ | 4,850 | ||||||||
| 31. | TOTAL DISBURSEMENTS |
$ | 80,440 | $ | 92,168 | $ | 88,338 | $ | 260,946 | ||||||||
| 32. | NET CASH FLOW |
$ | (1,961 | ) | $ | 1,793 | $ | (7,078 | ) | $ | (7,246 | ) | |||||
| 33. | CASH - END OF MONTH |
$ | 32,595 | $ | 34,556 | $ | 32,764 | $ | 27,310 | ||||||||
| (1) | Amounts represent the cash activity for the entire months of February, March, and April 2006. |
7 of 16
Monthly Operating Report
| LOCATION NAME: INTEGRATED ELECTRICAL SERVICES, INC., ET AL. | ACCRUAL BASIS-3 | |
| CASE NUMBER: 06-30602-BJH-11 Chapter 11 | rwd, 1/05 | |
CASH RECEIPTS & DISBURSEMENTS
| ALL DOLLAR AMOUNTS IN THOUSANDS | |||||||||||||
| MONTH April 2006 |
MONTH March 2006 |
MONTH February 2006 |
QUARTER TOTAL | ||||||||||
| OTHER: Operating Disbursements - Line 25 |
|||||||||||||
| Direct & Indirect Job Cost and Sub-Contract |
23,529 | 24,561 | 11,070 | 59,160 | |||||||||
| Miscellaneous |
(1,411 | ) | 1707 | 6555 | 6,851 | ||||||||
| Subcontract Cost |
6,961 | 3,467 | 10,428 | ||||||||||
| Employee Related Costs |
340 | 340 | |||||||||||
| Bank Sweep Activity |
951 | 951 | |||||||||||
| 0 | |||||||||||||
| Total for Line 16 |
$ | 22,118 | $ | 34,520 | $ | 21,091 | $ | 77,729 | |||||
8 of 16
Monthly Operating Report
| LOCATION NAME: INTEGRATED ELECTRICAL SERVICES, INC. ET AL. | ACCRUAL BASIS-4 | |
| CASE NUMBER: 06-30602-BJH-11 Chapter 11 | rwd, 1/05 | |
| ALL DOLLAR AMOUNTS IN THOUSANDS | |||||||||||||||||
| SCHEDULE AMOUNT |
MONTH April 2006 |
MONTH MARCH 2006 |
MONTH FEBRUARY 2006 | ||||||||||||||
| ACCOUNTS RECEIVABLE AGING |
|||||||||||||||||
| 1. | 0-30 |
104,232 | 98,840 | 101,707 | |||||||||||||
| 2. | 31-60 |
25,137 | 30,851 | 26,431 | |||||||||||||
| 3. | 61-90 |
12,071 | 11,820 | 12,321 | |||||||||||||
| 4. | 91+ |
28,870 | 26,205 | 31,492 | |||||||||||||
| 5. | TOTAL ACCOUNTS RECEIVABLE |
$ | — | $ | 170,310 | $ | 167,716 | $ | 171,951 | ||||||||
| 6. | AMOUNT CONSIDERED UNCOLLECTIBLE |
4,144 | $ | 4,319 | $ | 3,305 | |||||||||||
| 7. | ACCOUNTS RECEIVABLE (NET) |
$ | — | $ | 166,166 | $ | 163,397 | $ | 168,646 | ||||||||
| AGING OF POSTPETITION TAXES AND PAYABLES | MONTH: April 2006 | ||||||||||||||||
| 0-30 DAYS |
31-60 DAYS |
61-90 DAYS |
91+ DAYS |
TOTAL | |||||||||||||
| TAXES PAYABLE |
|||||||||||||||||
| 1. | FEDERAL |
1,734 | 0 | 0 | 0 | 1,734 | |||||||||||
| 2. | STATE |
1,197 | 142 | 40 | 0 | 1,379 | |||||||||||
| 3. | LOCAL |
259 | 1 | 0 | 0 | 260 | |||||||||||
| 4. | OTHER (ATTACH LIST) |
104 | 0 | 0 | 0 | 104 | |||||||||||
| 5. | TOTAL TAXES PAYABLE |
$ | 3,294 | $ | 143 | $ | 40 | $ | — | $ | 3,477 | ||||||
| 0 | |||||||||||||||||
| 6. | ACCOUNTS PAYABLE |
$ | 45,066 | $ | 2,342 | $ | 527 | $ | 315 | $ | 48,250 | ||||||
| STATUS OF POSTPETITION TAXES | MONTH: April 2006 | ||||||||||||||||
| BEGINNING TAX LIABILITY* |
AMOUNT WITHHELD AND/ 0R ACCRUED |
AMOUNT PAID |
ENDING TAX LIABILITY | ||||||||||||||
| FEDERAL |
|||||||||||||||||
| 1. | WITHHOLDING** |
756 | 2,826 | 2,866 | 716 | ||||||||||||
| 2. | FICA-EMPLOYEE** |
261 | 1,980 | 1,860 | 381 | ||||||||||||
| 3. | FICA-EMPLOYER** |
309 | 1,979 | 1,862 | 427 | ||||||||||||
| 4. | UNEMPLOYMENT |
260 | 116 | 247 | 129 | ||||||||||||
| 5. | INCOME |
0 | 0 | 0 | 0 | ||||||||||||
| 6. | OTHER (ATTACH LIST) |
6 | 0 | 0 | 6 | ||||||||||||
| 7. | TOTAL FEDERAL TAXES |
$ | 1,592 | $ | 6,901 | $ | 6,835 | $ | 1,658 | ||||||||
| STATE AND LOCAL | |||||||||||||||||
| 8. | WITHHOLDING |
205 | 523 | 498 | 231 | ||||||||||||
| 9. | SALES |
677 | 514 | 592 | 599 | ||||||||||||
| 10. | EXCISE |
0 | 0 | 0 | 0 | ||||||||||||
| 11. | UNEMPLOYMENT |
1,024 | 309 | 874 | 459 | ||||||||||||
| 12. | REAL PROPERTY |
165 | 41 | 38 | 168 | ||||||||||||
| 13. | PERSONAL PROPERTY |
96 | 9 | 4 | 101 | ||||||||||||
| 14. | OTHER (ATTACH LIST) |
209 | 69 | 17 | 261 | ||||||||||||
| 15. | TOTAL STATE & LOCAL |
$ | 2,376 | $ | 1,465 | $ | 2,022 | $ | 1,819 | ||||||||
| 16. | TOTAL TAXES |
$ | 3,968 | $ | 8,366 | $ | 8,857 | $ | 3,477 | ||||||||
| * | The beginning tax liability should represent the liability from the prior month or, if this is the first operating report, the amount should be zero. |
| ** | Attach photocopies of IRS Form 6123 or your FTD coupon and payment receipt to verify payment or deposit. |
9 of 16
Monthly Operating Report
| LOCATION NAME: INTEGRATED ELECTRICAL SERVICES, INC. ET AL. | ACCRUAL BASIS-5 | |
| CASE NUMBER: 06-30602-BJH-11 Chapter 11 | rwd, 1/05 | |
The debtor in possession must complete the reconciliation below for each bank account, including all general, payroll and tax accounts, as well as all savings and investment accounts, money market accounts, certificates of deposit, government obligations, etc. Accounts with restricted funds should be identified by placing an asterisk next to the account number. Attach additional sheets if necessary.
| MONTH: April 2006 | |||||||||||||||
| BANK RECONCILIATIONS | |||||||||||||||
| Account #1 | Account #2 | Account #3 | |||||||||||||
| A. | BANK: |
Summary | TOTAL | ||||||||||||
| B. | ACCOUNT NUMBER: |
See Attached Schedule | |||||||||||||
| C. | PURPOSE (TYPE): |
IES Corporate | IES Subsidiaries | ||||||||||||
| 1. | BALANCE PER BANK STATEMENT |
12,561 | not available | $ | 12,561 | ||||||||||
| 2. | ADD: TOTAL DEPOSITS NOT CREDITED |
0 | not available | $ | — | ||||||||||
| 3. | SUBTRACT: OUTSTANDING CHECKS |
1,673 | not available | $ | 1,673 | ||||||||||
| 4. | OTHER RECONCILING ITEMS |
403 | not available | $ | 403 | ||||||||||
| 5. | MONTH END BALANCE PER BOOKS |
$ | 11,291 | $ | (8,907 | ) | $ | — | $ | 2,384 | |||||
| 6. | NUMBER OF LAST CHECK WRITTEN |
|
See Attached Schedule |
||||||||||||
| INVESTMENT ACCOUNTS | |||||||||||||||
| DATE OF PURCHASE |
TYPE OF INSTRUMENT |
PURCHASE PRICE |
CURRENT VALUE | ||||||||||||
| BANK, ACCOUNT NAME & NUMBER | |||||||||||||||
| 7. | Bank of America, 220-08522-1-4 EDW |
2/2/2006 | Money Market | $ | 17 | $ | 17 | ||||||||
| 8. | Bank of America, 249-00506-1-0 EDW* |
2/3/2006 | Money Market | 20,000 | 20,000 | ||||||||||
| 9. | Bank of America, 249-00506-1-0 EDW* |
3/1/2006 | Money Market | 60 | 60 | ||||||||||
| 10. | Bank of America, Liquidity Management Account, 3756665754 |
4/14/2006 | Columbia Treasury Reserves | 13 | 13 | ||||||||||
| 11. | Bank of America, Liquidity Management Account, 3756665754 |
4/18/2006 | Columbia Treasury Reserves | 5,999 | 5,999 | ||||||||||
| 12. | Bank of America, Liquidity Management Account, 3756665754 |
4/21/2006 | Columbia Treasury Reserves | 1,450 | 1,450 | ||||||||||
| 13. | Bank of America, Liquidity Management Account, 3756665754 |
4/24/2006 | Columbia Treasury Reserves | 1,896 | 1,896 | ||||||||||
| 14. | Bank of America, Liquidity Management Account, 3756665754 |
4/25/2006 | Columbia Treasury Reserves | 776 | 776 | ||||||||||
| 15. | TOTAL INVESTMENTS |
$ | 30,211 | $ | 30,211 | ||||||||||
| CASH | |||||||||||||||
| 16. | CURRENCY ON HAND / DEPOSIT IN TRANSIT |
||||||||||||||
| 17. | TOTAL CASH - END OF MONTH |
$ | 32,595 | ||||||||||||
10 of 16
LOCATION NAME: INTEGRATED ELECTRICAL SERVICES, INC. ET AL.
CASE NUMBER: 06-30602-BJH-11 Chapter 11
MOR_5 SUPPORT
BANK RECONCILIATIONS - ACCOUNTS 1 - 11
| Account closed Account #1 |
Account #2 | Account #3 | Account #4 | Account #5 | Account #6 | Account #7 | Account #8 | Account #9 | Account #10 | Account #11 | |||||||||||||||||||||||||||||||
| A. | BANK: |
|
Bank of America |
|
Bank of America |
|
Bank of America |
|
Bank of America |
|
|
First American |
|
First American |
Amegy | Wells Fargo | Regions Bank | LaSalle | |
Bank of America |
|
||||||||||||||||||||
| B. | ACCOUNT NUMBER: |
0013-9000-0887 | 0013-9001-2079 | 375-666-2809 | 375-666-5754 | 331-276-202 | 335-519-729 | 316-474 | 494-507-3211 | 78-8700-0154 | 5800384397 | 4426201230 | |||||||||||||||||||||||||||||
| C. | PURPOSE (TYPE): |
|
Master Concentration |
A/P Account | |
Business Capital |
|
Operating Acct |
|
|
Master Concentration |
|
P/R Tax Escrow |
|
Master Concentration |
|
Master Concentration |
|
Master Concentration |
|
Master Concentration |
Payroll | Total | ||||||||||||||||||
| 1. | BALANCE PER BANK STATEMENT |
$ | 0 | $ | 0 | $ | 5,862 | $ | 20 | $ | 14 | $ | 4,012 | $ | 515 | $ | 128 | $ | 161 | $ | 90 | $ | 0 | $ | 10,802 | ||||||||||||||||
| 2. | ADD: TOTAL DEPOSITS NOT CREDITED |
$ | 0 | $ | 0 | $ | 0 | $ | 0 | $ | 0 | ||||||||||||||||||||||||||||||
| 3. | SUBTRACT: OUTSTANDING CHECKS |
$ | 0 | $ | 0 | $ | 0 | $ | 0 | $ | 0 | ||||||||||||||||||||||||||||||
| 4. | OTHER RECONCILING ITEMS |
$ | 0 | $ | 1 | $ | 0 | $ | (211 | ) | $ | 15 | $ | 12 | $ | 9 | $ | (97 | ) | $ | (271 | ) | |||||||||||||||||||
| 5. | MONTH END BALANCE PER BOOKS |
$ | 0 | $ | 1 | $ | 5,862 | $ | (191 | ) | $ | 29 | $ | 4,024 | $ | 524 | $ | 128 | $ | 161 | $ | 90 | $ | (97 | ) | $ | 10,531 | ||||||||||||||
| 6. | NUMBER OF LAST CHECK WRITTEN |
n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a | ||||||||||||||||||||||||||||
BANK RECONCILIATIONS - ACCOUNTS 12 - 22
| Account #12 | Account #13 | Account #14 | Account #15 | Account closed Account #16 |
Account #17 | Account #18 | Account #19 | Account closed Account #20 |
|||||||||||||||||||||||||||||
| A. |
BANK: |
|
JP Morgan Chase |
|
Wachovia | US Bank | |
JP Morgan Chase |
|
Bank of America |
|
|
JP Morgan Chase |
|
JPM Chase | |
Bank of America |
|
Bank of America |
|
|||||||||||||||||
| B. |
ACCOUNT NUMBER: |
601-854-714 | |
2000-0140- 45185 |
|
4346-84- 7728 |
323-297-692 | 139-000-0890 | 601-854-698 | 601-854-706 | 442-620-1256 | |
0013- 9000- 0900 |
|
|||||||||||||||||||||||
| C. |
PURPOSE (TYPE): |
A/P | |
Master Concentration |
|
Master Concentration |
|
Master Concentration |
A/P (Closed) | |
A/P Account (ZBA) |
|
|
A/P Account (ZBA) |
|
|
Payroll (ZBA) |
|
Payroll (ZBA) |
|
Total | ||||||||||||||||
| 1. |
BALANCE PER BANK STATEMENT |
$ | 0 | $ | 844 | $ | 816 | $ | 99 | $ | 0 | $ | 0 | $ | 0 | $ | 0 | $ | 0 | $ | 1,759 | ||||||||||||||||
| 2. |
ADD: TOTAL DEPOSITS NOT CREDITED |
$ | 0 | $ | 0 | $ | 0 | ||||||||||||||||||||||||||||||
| 3. |
SUBTRACT: OUTSTANDING CHECKS |
$ | 1,561 | $ | 37 | $ | 74 | $ | 1 | $ | 1,673 | ||||||||||||||||||||||||||
| 4. |
OTHER RECONCILING ITEMS |
$ | 642 | $ | (7 | ) | $ | 8 | $ | 70 | $ | (39 | ) | $ | 674 | ||||||||||||||||||||||
| 5. |
MONTH END BALANCE PER BOOKS |
$ | (919 | ) | $ | 844 | $ | 816 | $ | 99 | $ | (7 | ) | $ | (29 | ) | $ | (74 | ) | $ | 70 | $ | (40 | ) | $ | 760 | |||||||||||
| 6. |
NUMBER OF LAST CHECK WRITTEN |
14464 | n/a | n/a | n/a | n/a | 7265 | 3315 | n/a | n/a | n/a | ||||||||||||||||||||||||||
BANK RECONCILIATIONS - ALL ACCOUNTS
| TOTAL | |||||
| A. |
BANK: | ||||
| B. |
ACCOUNT NUMBER: | ||||
| C. |
PURPOSE (TYPE): | ||||
| 1. |
BALANCE PER BANK STATEMENT |
$ | 12,561 | ||
| 2. |
ADD: TOTAL DEPOSITS NOT CREDITED |
$ | 0 | ||
| 3. |
SUBTRACT: OUTSTANDING CHECKS |
$ | 1,673 | ||
| 4. |
OTHER RECONCILING ITEMS |
$ | 403 | ||
| 5. |
MONTH END BALANCE PER BOOKS |
$ | 11,291 | ||
| 6. |
NUMBER OF LAST CHECK WRITTEN |
see support |
INVESTMENT ACCOUNTS
| DATE OF PURCHASE |
TYPE OF INSTRUMENT | PURCHASE PRICE |
CURRENT VALUE | |||||||||
| BANK, ACCOUNT NAME & NUMBER |
||||||||||||
| 7. |
Bank of America, 220-08522-1-4 EDW |
2/2/2006 | Money Market | $ | 17 | $ | 17 | |||||
| 8. |
Bank of America, 249-00506-1-0 EDW* |
2/3/2006 | Money Market | $ | 20,000 | $ | 20,000 | |||||
| 9. |
Bank of America, 249-00506-1-0 EDW* |
3/1/2006 | Money Market | $ | 60 | $ | 60 | |||||
| 9. |
Bank of America, Liquidity Management Account, 3756665754 |
4/14/2006 | Columbia Treasury Reserves | $ | 13 | $ | 13 | |||||
| 10. |
Bank of America, Liquidity Management Account, 3756665754 |
4/18/2006 | Columbia Treasury Reserves | $ | 5,999 | $ | 5,999 | |||||
| 8. |
Bank of America, Liquidity Management Account, 3756665754 |
4/21/2006 | Columbia Treasury Reserves | $ | 1,450 | $ | 1,450 | |||||
| 9. |
Bank of America, Liquidity Management Account, 3756665754 |
4/24/2006 | Columbia Treasury Reserves | $ | 1,896 | $ | 1,896 | |||||
| 10. |
Bank of America, Liquidity Management Account, 3756665754 |
4/25/2006 | Columbia Treasury Reserves | $ | 776 | $ | 776 | |||||
| 11. |
TOTAL INVESTMENTS |
$ | 30,211 | $ | 30,211 | |||||||
| CASH | ||||||||||||
| 12. |
CURRENCY ON HAND / DEPOSIT IN TRANSIT |
$ | 0 | |||||||||
| 13. |
TOTAL CASH - END OF MONTH |
$ | 41,502 | |||||||||
11 of 16
| LOCATION NAME: INTEGRATED ELECTRICAL SERVICES, INC., ET AL. | Monthly Operating Report | |
| CASE NUMBER: 06-30602-BJH-11 Chapter 11 | ACCRUAL BASIS-6 | |
| rwd, 1/05 | ||
| MONTH: April 2006 | ||
PAYMENTS TO INSIDERS AND PROFESSIONALS
OF THE TOTAL DISBURSEMENTS SHOWN FOR THE MONTH, LIST THE AMOUNT PAID TO INSIDERS (AS DEFINED IN SECTION 101 (31) (A)-(F) OF THE U.S. BANKRUPTCY CODE) AND TO PROFESSIONALS. ALSO, FOR PAYMENTS TO INSIDERS, IDENTIFY THE TYPE OF COMPENSATION PAID (e.g. SALARY, BONUS, COMMISSIONS, INSURANCE, HOUSING ALLOWANCE, TRAVEL, CAR ALLOWANCE, ETC.). ATTACH ADDITIONAL SHEETS IF NECESSARY.
SECTION 1- PAYMENTS TO INSIDERS- CORPORATE TO COMPLETE
| NAME |
TYPE OF PAYMENT |
AMOUNT PAID |
TOTAL PAID TO DATE | |||||||
| 1. | See attached schedule |
Salary | 237 | 592 | ||||||
| 2. | See attached schedule |
Auto Allowance | 14 | 34 | ||||||
| 3. | See attached schedule |
Executive Disability | 0 | 1 | ||||||
| 4. | See attached schedule |
401 (k) Match | 3 | 7 | ||||||
| 5. | ||||||||||
| 6. | TOTAL PAYMENTS |
|||||||||
| TO INSIDERS |
$ | 253 | $ | 634 | ||||||
SECTION 2 - PAYMENTS TO PROFESSIONALS- CORPORATE TO COMPLETE
| NAME |
DATE OF COURT ORDER AUTHORIZING PAYMENT |
AMOUNT APPROVED |
AMOUNT PAID |
TOTAL PAID TO DATE |
TOTAL INCURRED & UNPAID * | |||||||||||
| 1. | See attached schedule |
03/13/06 | see schedule | 1,201 | 1,801 | $ | 4,452 | |||||||||
| 2. | ||||||||||||||||
| 3. | ||||||||||||||||
| 4. | ||||||||||||||||
| 5. | ||||||||||||||||
| 6. | TOTAL PAYMENTS |
|||||||||||||||
| TO PROFESSIONALS |
$ | — | $ | 1,201 | $ | 1,801 | $ | 4,452 | ||||||||
| * | INCLUDE ALL FEES INCURRED, BOTH APPROVED AND UNAPPROVED |
SECTION 3- POSTPETITION STATUS OF SECURED NOTES, LEASES PAYABLE AND ADEQUATE PROTECTION PAYMENTS
| NAME OF CREDITOR |
SCHEDULED MONTHLY PAYMENTS DUE |
AMOUNTS PAID DURING MONTH |
TOTAL UNPAID POSTPETITION | ||||||||
| 1. | N/A - no schedule of liabilities for filing |
||||||||||
| 2. | |||||||||||
| 3. | |||||||||||
| 4. | |||||||||||
| 5. | |||||||||||
| 6. | TOTAL |
$ | — | $ | — | $ | — | ||||
12 of 16
LOCATION NAME: INTEGRATED ELECTRICAL SERVICES, INC., ET AL.
CASE NUMBER: 06-30602-BJH-11 Chapter 11
Monthly Operating Report- Accrual Basis- Report 6 - Insider Payment Detail ($000’s)
INSIDER 1 PAYMENTS
| NAME |
TYPE OF PAYMENT |
AMOUNT PAID |
TOTAL PAID MTD | |||||||
| 1 | Cyrus B. Snyder |
Salary | 20.8 | 52.1 | ||||||
| Cyrus B. Snyder |
Auto Allowance | 1.5 | 3.8 | |||||||
| 2 | Richard C. Humphrey |
Salary | 25.0 | 62.5 | ||||||
| Richard C. Humphrey |
Auto Allowance | 1.5 | 3.8 | |||||||
| Richard C. Humphrey |
Executive Disability | 0.3 | 0.7 | |||||||
| Richard C. Humphrey |
401(k) Match | 0.4 | 1.0 | |||||||
| 3 | David A. Miller |
Salary | 22.9 | 57.3 | ||||||
| David A. Miller |
Auto Allowance | 1.5 | 3.8 | |||||||
| David A. Miller |
Executive Disability | 0.2 | 0.5 | |||||||
| David A. Miller |
401(k) Match | 0.3 | 0.9 | |||||||
| 4 | Curtlon L. Warnock |
Salary | 18.8 | 46.9 | ||||||
| Curtlon L. Warnock |
Auto Allowance | 1.5 | 3.8 | |||||||
| Curtlon L. Warnock |
401(k) Match | 0.3 | 0.8 | |||||||
| 5 | Robert B. Callahan |
Salary | 14.6 | 36.5 | ||||||
| Robert B. Callahan |
Auto Allowance | 1.5 | 3.8 | |||||||
| 6 | Robert L. Wilson |
Salary | 20.8 | 52.1 | ||||||
| Robert L. Wilson |
Auto Allowance | 1.5 | 3.8 | |||||||
| Robert L. Wilson |
401(k) Match | 0.2 | 0.4 | |||||||
| 7 | Michael Bertoldi |
Salary | 18.8 | 46.9 | ||||||
| Michael Bertoldi |
Auto Allowance | 1.5 | 3.8 | |||||||
| Michael Bertoldi |
401(k) Match | 0.3 | 0.8 | |||||||
| 8 | Johnny Menninga |
Salary | 18.8 | 46.9 | ||||||
| Johnny Menninga |
Auto Allowance | 1.5 | 3.8 | |||||||
| Johnny Menninga |
401(k) Match | 0.4 | 1.1 | |||||||
| 9 | Glenn Schaefer |
Salary | 20.8 | 52.1 | ||||||
| Glenn Schaefer |
Auto Allowance | 1.5 | 3.8 | |||||||
| Glenn Schaefer |
401(k) Match | 0.3 | 0.8 | |||||||
| 10 | Robert Lewey |
Salary | 14.2 | 35.4 | ||||||
| Robert Lewey |
401(k) Match | 0.2 | 0.5 | |||||||
| 11 | Jefford Dixon |
Salary | 13.3 | 33.3 | ||||||
| Jefford Dixon |
401(k) Match | 0.2 | 0.4 | |||||||
| 12 | Gregory Upham |
Salary | 14.2 | 35.4 | ||||||
| 13 | Philip deLoache |
Salary | 13.8 | 34.4 | ||||||
| TOTAL PAYMENTS TO INSIDERS |
$ | 253.3 | $ | 633.2 | ||||||
| 1. | Total |
Salary | $ | 236.7 | $ | 591.7 | ||||
| 2. | Total |
Auto Allowance | $ | 13.5 | $ | 33.8 | ||||
| 3. | Total |
Executive Disability | $ | 0.5 | $ | 1.2 | ||||
| 4. | Total |
401(k) Match | $ | 2.6 | $ | 6.6 | ||||
| 5. | ||||||||||
| 6. | TOTAL PAYMENTS TO INSIDERS |
$ | 253.3 | $ | 633.2 | |||||
| 1 | Defined as Officer and Directors of Integrated Electrical Services, Inc. |
13 of 16
LOCATION NAME: INTEGRATED ELECTRICAL SERVICES, INC., ET AL.
CASE NUMBER: 06-30602-BJH-11 Chapter 11
| Monthly Operating Report- Accrual Basis- Report 6 - Payments to Professionals ($000’s) |
Month: April 2006 |
PROFESSIONALS
| NAME |
DATE OF COURT ORDER AUTHORIZING PAYMENT |
AMOUNT APPROVED |
AMOUNT PAID ** |
TOTAL PAID TO DATE ** |
TOTAL INCURRED & UNPAID * | |||||||||||
| 1. | Vinson & Elkins |
3/13/2006 | 80% of billed | $ | 616.0 | $ | 923.0 | $ | 870.0 | |||||||
| 2. | Price Waterhouse Coopers |
3/24/2006 | $ | 545.0 | $ | 63.0 | $ | 63.0 | $ | 0.0 | ||||||
| 3. | Glass |
3/13/2006 | No preset limit | $ | 80.0 | $ | 258.0 | $ | 320.0 | |||||||
| 4. | Gordian |
3/13/2006 | 80% of billed | $ | 367.0 | $ | 467.0 | $ | 0.0 | |||||||
| 5. | Financial Balloting Group |
3/13/2006 | No preset limit | $ | 75.0 | $ | 90.0 | $ | 0.0 | |||||||
| 7. | Weil Gotshal |
3/13/2006 | 80% of billed | $ | 0.0 | $ | 0.0 | $ | 1,325.0 | |||||||
| 8. | Jenner & Block |
3/13/2006 | 80% of billed | $ | 0.0 | $ | 0.0 | $ | 825.0 | |||||||
| 9. | Guiliani Capital |
3/13/2006 | 80% of billed | $ | 0.0 | $ | 0.0 | $ | 1,112.0 | |||||||
| TOTAL PAYMENTS TO PROFESSIONALS |
$ | 545.0 | $ | 1,201.0 | $ | 1,801.0 | $ | 4,452.0 | ||||||||
| * | INCLUDE ALL FEES INCURRED, BOTH APPROVED AND UNAPPROVED |
| ** | NO PAYMENTS MADE BETWEEN FEBRUARY 14-28, COURT APPROVAL AHTHIRIZING PAYMENT NOT RECEIVED UNTIL 03/13/06. THE ONLY EXCEPTION WAS FOR FINANCIAL BALLOTING GROUP IN WHICH LEGAL ADVISED & APPROVED PAYMENT. |
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| Monthly Operating Report | ||
| LOCATION NAME: INTEGRATED ELECTRICAL SERVICES, INC., ET AL. | ACCRUAL BASIS-7 | |
| rwd, 1/05 | ||
| CASE NUMBER: 06-30602-BJH-11 Chapter 11 |
MONTH: April 2006
QUESTIONNAIRE
| YES | NO | |||||
| 1. | HAVE ANY ASSETS BEEN SOLD OR TRANSFERRED OUTSIDE THE NORMAL COURSE OF BUSINESS THIS REPORTING PERIOD? | X | ||||
| 2. | HAVE ANY FUNDS BEEN DISBURSED FROM ANY ACCOUNT OTHER THAN A DEBTOR IN POSSESSION ACCOUNT? | X | ||||
| 3. | ARE ANY POSTPETITION RECEIVABLES (ACCOUNTS, NOTES, OR LOANS) DUE FROM RELATED PARTIES? | X | ||||
| 4. | HAVE ANY PAYMENTS BEEN MADE ON PREPETITION LIABILITIES THIS REPORTING PERIOD? | X | ||||
| 5. | HAVE ANY POSTPETITION LOANS BEEN RECEIVED BY THE DEBTOR FROM ANY PARTY? | X | ||||
| 6. | ARE ANY POSTPETITION PAYROLL TAXES PAST DUE? | X | ||||
| 7. | ARE ANY POSTPETITION STATE OR FEDERAL INCOME TAXES PAST DUE? | X | ||||
| 8. | ARE ANY POSTPETITION REAL ESTATE TAXES PAST DUE? | X | ||||
| 9. | ARE ANY OTHER POSTPETITION TAXES PAST DUE? | X | ||||
| 10. | ARE ANY AMOUNTS OWED TO POSTPETITION CREDITORS DELINQUENT? | X | ||||
| 11. | HAVE ANY PREPETITION TAXES BEEN PAID DURING THE REPORTING PERIOD? | X | ||||
| 12. | ARE ANY WAGE PAYMENTS PAST DUE? | X | ||||
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS “YES,” PROVIDE A DETAILED EXPLANATION OF EACH ITEM. ATTACH ADDITIONAL SHEETS IF NECESSARY.
2. All disbursements are made from accounts which are part of the court approved cash management system.
4. The Company filed a motion with the bankruptcy court seeking authority to pay all undisputed pre-petition trade vendor claims in the ordinary course of business (the “Trade Vendor Motion”). The court approved this motion on February 15, 2006. Any payme
5. While there is no funded debt outstanding as of April 30, 2006, the court has approved financing agreements with Bank of America, Chubb, Suretec and IBCS.
11. The company entered a motion with the court on February 14, 2006 seeking authority to pay pre-petition taxes in the ordinary course of business. The court approved this motion on February 15, 2006.
| YES | NO | |||||
| 1. | ARE WORKER’S COMPENSATION, GENERAL LIABILITY AND OTHER NECESSARY INSURANCE COVERAGES IN EFFECT? | X | ||||
| 2. | ARE ALL PREMIUM PAYMENTS PAID CURRENT? | X | ||||
| 3. | PLEASE ITEMIZE POLICIES BELOW. | |||||
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS “NO,” OR IF ANY POLICIES HAVE BEEN CANCELLED OR NOT RENEWED DURING THIS REPORTING PERIOD, PROVIDE AN EXPLANATION BELOW. ATTACH ADDITIONAL SHEETS IF NECESSARY.
INSTALLMENT PAYMENTS
| TYPE OF POLICY |
CARRIER |
PERIOD COVERED |
PAYMENT AMOUNT |
|||||
| See Attached Schedule |
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| Monthly Operating Report | ||
| LOCATION NAME: INTEGRATED ELECTRICAL SERVICES, INC.,ET AL. | ACCRUAL BASIS-7 | |
| rwd, 1/05 | ||
| CASE NUMBER: 06-30602-BJH-11 Chapter 11 | MONTH: April 30, 2006 |
INSTALLMENT PAYMENTS
| TYPE OF POLICY |
CARRIER |
PERIOD COVERED | PAYMENT AMOUNT & FREQUENCY ($000’s) | ||||||||
| Workers Compensation-Deductible (All States except Monopolistic States and OR, AZ, NJ & CA) | American Casualty Co - E.L. Limit $1MM | 11/01/05 | 11/01/06 | $ | 115.84 | MONTHLY | |||||
| Workers Compensation-Deductible (All States except Monopolistic States and OR, AZ, NJ & CA) | American Casualty Co - Surcharges/Fees | 11/01/05 | 11/01/06 | $ | 1.38 | MONTHLY | |||||
| Workers Compensation-Deductible (All States except Monopolistic States and OR, AZ, NJ & CA) | American Casualty Co - Terrorism | 11/01/05 | 11/01/06 | $ | 5.77 | MONTHLY | |||||
| Workers Compensation-CA | American Casualty Co - E.L. Limit $1MM | 11/01/05 | 11/01/06 | $ | 4.59 | MONTHLY | |||||
| Workers Compensation-CA | American Casualty Co - Surcharges/Fees | 11/01/05 | 11/01/06 | $ | 0.38 | MONTHLY | |||||
| Workers Compensation-CA | American Casualty Co - Terrorism | 11/01/05 | 11/01/06 | $ | 0.23 | MONTHLY | |||||
| Workers Compensation-Retro OR, AZ, NJ | Transportation Ins Co - E.L. Limit $1MM | 11/01/05 | 11/01/06 | $ | 5.12 | MONTHLY | |||||
| Workers Compensation-Retro OR, AZ, NJ | Transportation Ins Co - Surcharges/Fees | 11/01/05 | 11/01/06 | $ | 0.17 | MONTHLY | |||||
| Workers Compensation-Retro OR, AZ, NJ | Transportation Ins Co - Terrorism | 11/01/05 | 11/01/06 | $ | 0.35 | MONTHLY | |||||
| Stop Gap Liability | Transportation Ins Co | 11/01/05 | 11/01/06 | $ | 0.01 | MONTHLY | |||||
| Business Auto | Continental Casualty - $1MM CSL | 11/01/05 | 11/01/06 | $ | 56.42 | MONTHLY | |||||
| Business Auto | Continental Casualty - Terrorism | 11/01/05 | 11/01/06 | $ | 0.06 | MONTHLY | |||||
| General Liability | Interstate Fire & Casualty - $1MM / $2MM / $10MM | 11/01/05 | 11/01/06 | $ | 94.00 | MONTHLY | |||||
| General Liability | Interstate Fire & Casualty - Terrorism | 11/01/05 | 11/01/06 | $ | 3.76 | MONTHLY | |||||
| General Liability | Interstate Fire & Casualty - State Tax & Stamping Fee | 11/01/05 | 11/01/06 | $ | 4.84 | MONTHLY | |||||
| Umbrella Liability | RSUI Indemnity Co - Primary $25MM | 11/01/05 | 11/01/06 | $ | 97.25 | MONTHLY | |||||
| Umbrella Liability | RSUI Indemnity Co - Terrorism | 11/01/05 | 11/01/06 | $ | 2.08 | MONTHLY | |||||
| Umbrella Liability | American Guarantee - Next $25MM | 11/01/05 | 11/01/06 | $ | 22.92 | MONTHLY | |||||
| Umbrella Liability | American Guarantee - Terrorism | 11/01/05 | 11/01/06 | $ | 0.23 | MONTHLY | |||||
| Umbrella Liability | Westchester Fire | 11/01/05 | 11/01/06 | $ | 10.00 | MONTHLY | |||||
| Umbrella Liability | Great American - Next $25MM | 11/01/05 | 11/01/06 | $ | 8.33 | MONTHLY | |||||
| Umbrella Liability | Great American - Terrorism | 11/01/05 | 11/01/06 | $ | 0.08 | MONTHLY | |||||
| Employment Practices Liability (EPL) | National Union Fire | 11/01/05 | 11/01/06 | $ | 15.22 | MONTHLY | |||||
| Crime | Federal Insurance Co | 11/01/05 | 11/01/06 | $ | 9.17 | MONTHLY | |||||
| Fiduciary | St. Paul Mercury | 11/01/05 | 11/01/06 | $ | 1.29 | MONTHLY | |||||
| Inland Marine Package | National Fire Ins Hartford | 11/01/05 | 11/01/06 | $ | 23.37 | MONTHLY | |||||
| Loss Control Services | Bowen, Miclette & Britt | 11/01/05 | 11/01/06 | $ | 12.25 | MONTHLY | |||||
| Agency Fee | Bowen, Miclette & Britt | 11/01/05 | 11/01/06 | $ | 41.35 | MONTHLY | |||||
| Property | Travelers Property & Cas | 12/15/05 | 12/15/06 | $ | 18.00 | MONTHLY | |||||
| Boiler & Machinery | Continental Casualty | 12/15/05 | 12/15/06 | $ | 0.06 | MONTHLY | |||||
| Directors & Officers Liability | XL Specialty Ins Co | 12/15/05 | 03/01/07 | $ | 57.26 | MONTHLY | |||||
| Directors & Officers Liability | American Cas of Reading | 12/15/05 | 03/01/07 | $ | 22.67 | MONTHLY | |||||
| Directors & Officers Liability | Platte River Ins Co | 12/15/05 | 03/01/07 | $ | 14.41 | MONTHLY | |||||
| Directors & Officers Liability | RSUI Indemnity | 12/15/05 | 03/01/07 | $ | 12.58 | MONTHLY | |||||
| Directors & Officers Liability | St. Paul Mercury Ins Co | 12/15/05 | 03/01/07 | $ | 6.44 | MONTHLY | |||||
| Aviation—Primary | U. S. Specialty | 01/29/06 | 01/29/07 | $ | 0.25 | MONTHLY | |||||
| Kidnap & Ransom/Extortion | National Union Fire | 04/21/03 | 04/21/06 | $ | 1.20 | MONTHLY | |||||
| Foreign Package | Ins Co of the State of PA | 06/17/05 | 06/17/06 | $ | 0.50 | MONTHLY | |||||
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