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Document And Entity Information - USD ($)	12 Months Ended
Document And Entity Information - USD ($)	Sep. 30, 2011	Dec. 16, 2011	Mar. 31, 2011
Document And Entity Information [Abstract]
Entity Registrant Name	INTEGRATED ELECTRICAL SERVICES INC
Entity Central Index Key	0001048268
Document Type	10-K
Document Period End Date	Sep. 30, 2011
Amendment Flag	false
Document Fiscal Year Focus	2011
Document Fiscal Period Focus	FY
Current Fiscal Year End Date	--09-30
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		14,938,071
Entity Well-known Seasoned Issuer	No
Entity Public Float			$ 20,600,000
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2011	Sep. 30, 2010
CURRENT ASSETS:
Cash and cash equivalents	$ 35,577	$ 32,924
Accounts receivable:
Trade, net of allowance of $2,645 and $3,360, respectively	85,728	88,252
Retainage	17,944	17,083
Inventories	8,443	12,797
Costs and estimated earnings in excess of billings on uncompleted contracts	9,963	14,549
Prepaid expenses and other current assets	2,840	5,449
Total current assets	160,495	171,054
LONG-TERM RECEIVABLE, net of allowance of $59 and $$4,069, respectively	200	440
PROPERTY AND EQUIPMENT, net	8,016	19,896
GOODWILL	4,446	4,588
OTHER NON-CURRENT ASSETS, net	7,087	11,882
Total assets	180,244	207,860
LIABILITIES AND STOCKHOLDERS' EQUITY
Current maturities of long-term debt	209	808
Accounts payable and accrued expenses	78,980	72,799
Billings in excess of costs and estimated earnings on uncompleted contracts	19,585	15,244
Total current liabilities	98,774	88,851
LONG-TERM DEBT, net of current maturities	10,289	10,448
LONG-TERM DEFERRED TAX LIABILITY	284	1,046
OTHER NON-CURRENT LIABILITIES	6,596	6,314
Total liabilities	115,943	106,659
STOCKHOLDERS' EQUITY:
Preferred stock, $0.01 par value, 10,000,000 shares authorized, none issued and outstanding	0	0
Common stock, $0.01 par value, 100,000,000 shares authorized; 15,407,802 and 15,407,802 shares issued and 14,938,071 and 14,773,904 outstanding, respectively	154	154
Treasury stock, at cost, 451,329 and 633,898 shares, respectively	(5,595)	(13,677)
Additional paid-in capital	164,262	171,510
Accumulated other comprehensive income	0	(88)
Retained deficit	(94,520)	(56,698)
Total stockholders' equity	64,301	101,201
Total liabilities and stockholders' equity	$ 180,244	$ 207,860

Consolidated Balance Sheets (Parenthetical) - USD ($)	Sep. 30, 2011	Sep. 30, 2011	Sep. 30, 2010
Consolidated Balance Sheets [Abstract]
Trade, allowance		$ 2,645,000	$ 3,360,000
LONG TERM RECEIVABLES, allowance		59,000	4,069,000
Preferred stock, par value	shares 0.01		$ 0.01
Preferred stock, shares authorized	10,000,000		10,000,000
Preferred stock, shares issued	0		0
Preferred stock, shares outstanding	0		0
Common stock, par value		$ 0.01	$ 0.01
Common stock, shares authorized	100,000,000		100,000,000
Common stock, shares issued	15,407,802		15,407,802
Common stock, shares outstanding	14,938,071		14,773,904
Treasury stock, shares	451,329		633,898

Consolidated Statements Of Operations - USD ($)	12 Months Ended
Consolidated Statements Of Operations - USD ($)	Sep. 30, 2011	Sep. 30, 2010	Sep. 30, 2009
Consolidated Statements Of Operations [Abstract]
Revenues	$ 475,363,000	$ 463,430,000	$ 667,037,000
Cost of services	439,978,000	405,988,000	557,913,000
Gross profit	35,385,000	57,442,000	109,124,000
Selling, general and administrative expenses	68,858,000	84,877,000	108,171,000
(Gain) loss on sale of assets	(6,583,000)	(174,000)	(465,000)
Asset Impairment	4,804,000	0	0
Restructuring charges	3,784,000	763,000	7,407,000
Income (loss) from operations	(35,478,000)	(28,024,000)	(5,989,000)
Interest and other (income) expense:
Interest expense	2,277,000	3,513,000	4,526,000
Interest income	(68,000)	(242,000)	(432,000)
Other (income) expense, net	(10,000)	(109,000)	1,608,000
Interest and other expense, net	2,199,000	3,162,000	5,702,000
Income (loss) from operations before income taxes	(37,677,000)	(31,186,000)	(11,691,000)
Provision (benefit) for income taxes	146,000	(31,000)	495,000
Net income (loss) from continuing operations	(37,823,000)	(31,155,000)	(12,186,000)
Discontinued operations (Note 4 "Strategic Actions")
Income (loss) from discontinued operations	0	0	187,000
Provision (benefit) for income taxes	0	0	68,000
Net income (loss) from discontinued operations	0	0	119,000
Net loss	(37,823,000)	(31,155,000)	(12,067,000)
Basic earnings (loss) per share:
Continuing operations	(2.61)	(2.16)	(0.85)
Discontinued operations	0	0	0.01
Total	(2.61)	(2.16)	(0.84)
Diluted earnings (loss) per share:
Continuing operations	(2.61)	(2.16)	(0.85)
Discontinued operations	0	0	0.01
Total	$ (2.61)	$ (2.16)	$ (0.84)
Shares used in the computation of loss per share (Note 6 "Per Share Information"):
Basic	14,493,747	14,409,368	14,331,614
Diluted	14,493,747	14,409,368	14,331,614

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock [Member]	Treasury Stock [Member]	Additional Paid In Capital [Member]	Accumulated Other Comprehensive Income [Member]	Retained Earnings [Member]
Balance at Sep. 30, 2008	$ 145,110	$ 154	$ (11,591)	$ 170,023	$ 0	$ (13,476)
Balance, shares at Sep. 30, 2008		15,407,802	(654,023)
Restricted stock grant	0		$ 1,821	(1,821)	0	0
Restricted stock grant, shares		0	199,200
Forfeiture of restricted stock		$ 0	$ (2)	2	0	0
Forfeiture of restricted stock, shares		0	(120)
Acquisition of treasury stock	$ (4,325)	$ 0	$ (4,325)	0	0	0
Acquisition of treasury stock, shares	0		(335,118)
Non-cash compensation	$ 2,528	0	$ 0	2,528	0	0
Unrealized loss on marketable securities, net of tax	(70)	0	0	0	(70)	0
Net loss	(12,067)	0	0	0	0	(12,067)
Balance at Sep. 30, 2009	$ 131,176	$ 154	$ (14,097)	170,732	(70)	(25,543)
Balance, shares at Sep. 30, 2009		15,407,802	(790,061)
Restricted stock grant		$ 0	$ 807	(807)	0	0
Restricted stock grant, shares		0	221,486
Forfeiture of restricted stock		$ 0	$ (217)	217	0	0
Forfeiture of restricted stock, shares	0		(38,000)
Acquisition of treasury stock	$ (172)	$ 0	$ (170)	(2)	0	0
Acquisition of treasury stock, shares		0	(27,323)
Non-cash compensation	1,370	$ 0	$ 0	1,370	0	0
Unrealized loss on marketable securities, net of tax	(18)	0	0	0	(18)	0
Net loss	(31,155)	0	0	0	0	(31,155)
Balance at Sep. 30, 2010	101,201	$ 154	$ (13,677)	171,510	(88)	(56,698)
Balance, shares at Sep. 30, 2010		15,407,802	(633,898)
Restricted stock grant	$ 0		$ 4,595	(4,595)	0	0
Restricted stock grant, shares	0		333,616
Forfeiture of restricted stock		$ 0	$ (450)	450	0	0
Forfeiture of restricted stock, shares		0	(130,258)
Acquisition of treasury stock	$ 72	$ 0	$ 3,937	(4,009)	0	0
Acquisition of treasury stock, shares	0		(20,789)
Non-cash compensation	$ 907	0	$ 0	907	0	0
Unrealized loss on marketable securities, net of tax	88	0	0	0	88	0
Net loss	(37,823)	0	0	0	0	(37,823)
Balance at Sep. 30, 2011	$ 64,301	$ 154	$ (5,595)	$ 164,263	$ 0	$ (94,521)
Balance, shares at Sep. 30, 2011		15,407,802	(451,329)

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2011	Sep. 30, 2010	Sep. 30, 2009
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (37,823)	$ (31,155)	$ (12,067)
Adjustments to reconcile net loss to net cash provided by operating activities:
Net income (loss) from discontinued operations	0	0	(119)
Bad debt expense	(715)	7,440	2,539
Deferred financing cost amortization	338	314	263
Depreciation and amortization	6,356	5,291	8,325
Gain on sale of assets	88	(174)	(465)
Gain on sale of business unit	(6,657)	0	0
Non-cash compensation expense	907	1,370	2,520
Impairment of investment	4,854	150	2,850
Paid in kind interest	0	0	678
Equity in (gains) losses of investment	0	0	13
Goodwill adjustment - utilization of deferred tax assets	0	0	304
Deferred income tax	(107)	(1,244)	(1,924)
Changes in operating assets and liabilities
Accounts receivable	(2,761)	17,768	29,848
Inventories	(537)	(2,642)	2,701
Costs and estimated earnings in excess of billings	2,222	(995)	(498)
Prepaid expenses and other current assets	1,206	1,820	1,096
Other non-current assets	3,092	1,463	6,317
Accounts payable and accrued expenses	14,861	(5,708)	(21,151)
Billings in excess of costs and estimated earnings	2,476	(5,898)	(12,151)
Other non-current liabilities	348	(966)	593
Net cash provided by (used in) continuing operations	(11,852)	(13,166)	9,672
Net cash provided by discontinued operations	0	0	1,635
Net cash provided by (used in) operating activities	(11,852)	(13,166)	11,307
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property and equipment	(2,688)	(924)	(4,740)
Proceeds from sales of property and equipment	1,268	328	935
Proceeds on sale of facilities	16,763	0	0
Investment in unconsolidated affiliates	0	0	(2,150)
Distribution from unconsolidated affiliates	0	393	0
Net cash provided by (used in) continuing operations	15,343	(203)	(5,955)
Net cash provided by discontinued operations	0	0	65
Net cash provided by (used in) investing activities	15,343	(203)	(5,890)
CASH FLOWS FROM FINANCING ACTIVITIES:
Borrowings of debt	0	753	792
Repayments of debt	(766)	(18,184)	(2,427)
Purchase of treasury stock	(72)	(172)	(4,317)
Payments for debt issuance costs	0	(278)	0
Net cash used in financing activities	(838)	(17,881)	(5,952)
NET DECREASE IN CASH AND CASH EQUIVALENTS	2,653	(31,250)	(535)
CASH AND CASH EQUIVALENTS, beginning of period	32,924	64,174	64,709
CASH AND CASH EQUIVALENTS, end of period	35,577	32,924	64,174
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid for interest	2,293	3,899	3,590
Cash paid for income taxes	340	263	1,411
Assets acquired under capital lease	$ 68	$ 0	$ 774

Business

12 Months Ended

Sep. 30, 2011

Business [Abstract]

Business

1. BUSINESS

Description of the Business

Integrated Electrical Services, Inc., a Delaware corporation, was founded in June 1997 to establish a leading national provider of electrical services, focusing primarily on the communications, residential, commercial and industrial service and maintenance markets. We provide services from 53 locations serving the continental United States. The Company is organized into three business segments; Communications, Residential and Commercial & Industrial. The words “IES”, the “Company”, “we”, “our”, and “us” refer to Integrated Electrical Services, Inc. and, except as otherwise specified herein, to our wholly-owned subsidiaries.

Our Communications division is a leading provider of network infrastructure products and services for data centers and other mission critical environments. Services offered include the design, installation and maintenance of network infrastructure for the financial, medical, hospitality, government, hi-tech manufacturing, educational and information technology industries. We also provide the design and installation of audio/visual, telephone, fire, wireless and intrusion alarm systems as well as design/build, service and maintenance of data network systems. We perform services across the United States from our 7 offices and our Communications headquarters located in Tempe, Arizona allowing dedicated onsite maintenance teams at our customer's sites.

Our Residential division provides electrical installation services for single-family housing and multi-family apartment complexes and CATV cabling installations for residential and light commercial applications. In addition to our core electrical construction work, the Residential segment is expanding its offerings by providing services for the installation of residential solar power, smart meters, electric car charging stations and stand-by generators, both for new construction and existing residences. The division has 26 locations in Texas and the Sun-Belt, western and the Mid-Atlantic regions of the United States.

Our Commercial & Industrial division is one of the largest providers of electrical contracting services in the United States The division offers a broad range of electrical design, construction, renovation, engineering and maintenance services to the commercial and industrial markets. The division has 18 locations in Texas, Nebraska, Colorado, Oregon and the Mid-Atlantic region. Services include the design of electrical systems within a building or complex, procurement and installation of wiring and connection to power sources, end-use equipment and fixtures, as well as contract maintenance. We focus on projects that require special expertise, such as design-and-build projects that utilize the capabilities of our in-house experts, or projects which require specific market expertise, such as transmission and distribution and power generation facilities. We also focus on service, maintenance and certain renovation and upgrade work, which tends to be either recurring or have lower sensitivity to economic cycles, or both. We provide services for a variety of projects, including: high-rise residential and office buildings, power plants, manufacturing facilities, data centers, chemical plants, refineries, wind farms, solar facilities, municipal infrastructure and health care facilities and residential developments. Our utility services consist of overhead and underground installation and maintenance of electrical and other utilities transmission and distribution networks, installation and splicing of high-voltage transmission and distribution lines, substation construction and substation and right-of-way maintenance. Our maintenance services generally provide recurring revenues that are typically less affected by levels of construction activity. Service and maintenance revenues are derived from service calls and routine maintenance contracts, which tend to be recurring and less sensitive to short term economic fluctuations.

Controlling Shareholder

At September 30, 2011, Tontine Capital Partners, L.P. and its affiliates (collectively, “Tontine”), was the controlling shareholder of the Company's common stock. Accordingly, Tontine has the ability to exercise significant control of our affairs, including the election of directors and any action requiring the approval of shareholders, including the approval of any potential merger or sale of all or substantially all assets or divisions of the Company, or the Company itself. In its most recent Schedule 13D, Tontine stated that it has no current plans to make any material change in the Company's business or corporate structure. For a more complete discussion on our relationship with Tontine, please refer to Note 3 “Controlling Shareholder” in the notes to these Consolidated Financial Statements.

Sale of Non-Strategic Manufacturing Facility

On November 30, 2010, a subsidiary of the Company sold substantially all the assets and certain liabilities of a non-strategic manufacturing facility engaged in manufacturing and selling fabricated metal buildings housing electrical equipment, such as switchgears, motor starters and control systems, to Siemens Energy, Inc. As part of this transaction, Siemens Energy, Inc. also acquired certain real property where the fabrication facilities are located from another subsidiary of the Company. The purchase price of $10,086 was adjusted to reflect working capital variances. The transaction was completed on December 10, 2010 at which time we recognized a gain of $6,763.

Sale of Non-Core Electrical Distribution Facility

On February 28, 2011, Key Electrical Supply, Inc, a wholly owned subsidiary of the Company, sold substantially all the assets and certain liabilities of a non-core electrical distribution facility engaged in distributing wiring, lighting, electrical distribution, power control and generators for residential and commercial applications to Elliot Electric Supply, Inc. The purchase price of $6,676 was adjusted to reflect working capital variances. The loss on this transaction was immaterial.

Summary Of Significant Accounting Policies

12 Months Ended

Sep. 30, 2011

Summary Of Significant Accounting Policies [Abstract]

Summary Of Significant Accounting Policies

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Principles of Consolidation

The accompanying consolidated financial statements include the accounts of IES and its wholly-owned subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation. In the opinion of management, all adjustments considered necessary for a fair presentation have been included and are of a normal recurring nature.

Asset Impairment

The Company recorded a pretax non-cash asset impairment charge of $3,551 related to certain internally-developed capitalized software, $968 for our investment in EnerTech Capital Partners II L.P. (“EnerTech”), $142 for goodwill and $143 related to real estate held by the Company. The Company ceased use of the internally-developed software in 2011. As a result, the software has a fair value of zero. The non-cash impairments related to the investment in EnerTech and the real estate are to adjust the carrying value to their estimated current market values.

Use of Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires the use of estimates and assumptions by management in determining the reported amounts of assets and liabilities, disclosures of contingent liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Estimates are primarily used in our revenue recognition of construction in progress, fair value assumptions in analyzing goodwill, investments, intangible assets and long-lived asset impairments and adjustments, allowance for doubtful accounts receivable, stock-based compensation, reserves for legal matters, assumptions regarding estimated costs to exit certain divisions, realizability of deferred tax assets, and self-insured claims liabilities and related reserves.

Cash and Cash Equivalents

We consider all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents.

Inventories

Inventories generally consist of parts and supplies held for use in the ordinary course of business and are valued at the lower of cost or market generally using the historical average cost or first-in, first-out (FIFO) method. Where shipping and handling costs are borne by us, these charges are included in inventory and charged to cost of services upon use in construction or the providing of services.

Securities and Equity Investments

Our investments are accounted for using either the cost or equity method of accounting, as appropriate. Each period, we evaluate whether an event or change in circumstances has occurred that may indicate an investment has been impaired. If, upon further investigation of such events, we determine the investment has suffered a decline in value that is other than temporary, we write down the investment to its estimated fair value.

Certain securities are classified as available-for-sale. These investments are recorded at fair value and are classified as other non-current assets in the accompanying Consolidated Balance Sheets as of September 30, 2011. The changes in fair values, net of applicable taxes, are recorded as unrealized gains (losses) as a component of accumulated other comprehensive income (loss) in stockholders' equity.

Long-Term Receivables

From time to time, we enter into payment plans with certain customers over periods in excess of one year. We classify these receivables as long-term receivables. Additionally, we provide an allowance for doubtful accounts for specific long-term receivables where collection is considered doubtful.

In March 2009, in connection with a construction project entering bankruptcy, we transferred $3,992 of trade accounts receivable to long-term receivable and initiated breach of contract and mechanics' lien foreclosure actions against the project's general contractor and owner, respectively. At the same time, we reserved the costs in excess of billings of $278 associated with this receivable. In March 2010, given the significant uncertainty associated with its ultimate collectability we reserved the remaining balance of $3,714, but continued to pursue collection through the bankruptcy court proceeding. In February 2011, we entered into a $2,850 settlement in connection with the breach of contract and mechanics' lien foreclosure actions related to the receivable. The $2,850 recovery was recorded in the accompanying consolidated statements of operations as a component of selling, general, and administrative expenses.

Property and Equipment

Additions of property and equipment are recorded at cost, and depreciation is computed using the straight-line method over the estimated useful life of the related asset. Leasehold improvements are capitalized and depreciated over the lesser of the life of the lease or the estimated useful life of the asset. Depreciation and amortization expense was $6,406, $5,291 and $8,325, respectively, for the years ended September 30, 2011, 2010 and 2009.

Expenditures for repairs and maintenance are charged to expense when incurred. Expenditures for major renewals and betterments, which extend the useful lives of existing property and equipment, are capitalized and depreciated. Upon retirement or disposition of property and equipment, the capitalized cost and related accumulated depreciation are removed from the accounts and any resulting gain or loss is recognized in the statement of operations in the caption (gain) loss on sale of assets.

Goodwill

Goodwill attributable to each reporting unit is tested for impairment by comparing the fair value of each reporting unit with its carrying value. Fair value is determined using discounted cash flows. These impairment tests are required to be performed at least annually. Significant estimates used in the methodologies include estimates of future cash flows, future short-term and long-term growth rates, weighted average cost of capital for each of the reportable units. On an ongoing basis (absent any impairment indicators), we perform an impairment test annually using a measurement date of September 30.

Below are the carrying amounts of goodwill attributable to each reportable segment with goodwill balances:

	Years Ended September 30,
	2011		2010
Communications	$	-	$	-
Residential		4,446		4,446
Commercial & Industrial		-		142
	$	4,446	$	4,588

For the years ended September 30, 2011, 2010 and 2009, we recorded goodwill impairment of $142, $0, and $0, respectively. The impairment recorded in 2011 was attributable to our Commercial & Industrial segment. Based upon the results of our annual impairment analysis, the fair value of our Residential reporting unit significantly exceeded the book value, and warrants no impairment.

Debt Issuance Costs

Debt issuance costs are included in other noncurrent assets and are amortized to interest expense over the scheduled maturity of the debt. Amortization expense of debt issuance costs was $338, $314 and $263, respectively, for the years ended September 30, 2011, 2010 and 2009. At September 30, 2011, remaining unamortized capitalized debt issuance costs were $80.

Revenue Recognition

We recognize revenue on construction contracts using the percentage of completion method. Construction contracts generally provide that customers accept completion of progress to date and compensate us for services rendered measured in terms of units installed, hours expended or some other measure of progress. We recognize revenue on both signed contracts and change orders. A discussion of our treatment of claims and unapproved change orders is described later in this section. Percentage of completion for construction contracts is measured principally by the percentage of costs incurred and accrued to date for each contract to the estimated total cost for each contract at completion. We generally consider contracts to be substantially complete upon departure from the work site and acceptance by the customer. Contract costs include all direct material, labor and insurance costs and those indirect costs related to contract performance, such as indirect labor, supplies, tools, repairs and depreciation costs. Changes in job performance, job conditions, estimated contract costs and profitability and final contract settlements may result in revisions to costs and income and the effects of these revisions are recognized in the period in which the revisions are determined. Provisions for total estimated losses on uncompleted contracts are made in the period in which such losses are determined. The balances billed but not paid by customers pursuant to retainage provisions in construction contracts will be due upon completion of the contracts and acceptance by the customer. Based on our experience with similar contracts in recent years, the retention balance at each balance sheet date will be collected within the subsequent fiscal year.

Certain divisions in the Residential segment use the completed contract method of accounting because the duration of their contracts is short in nature. We recognize revenue on completed contracts when the construction is complete and billable to the customer. Provisions for estimated losses on these contracts are recorded in the period such losses are determined.

Service work consists of time and materials projects that are billed at either contractual or current standard rates. Revenues from service work are recognized when services are performed.

The current asset “Costs and estimated earnings in excess of billings on uncompleted contracts” represents revenues recognized in excess of amounts billed which management believes will be billed and collected within the next twelve months. The current liability “Billings in excess of costs and estimated earnings on uncompleted contracts” represents billings in excess of revenues recognized. Costs and estimated earnings in excess of billings on uncompleted contracts are amounts considered recoverable from customers based on different measures of performance, including achievement of specific milestones, completion of specified units or at the completion of the contract. Also included in this asset, from time to time, are claims and unapproved change orders which are amounts we are in the process of collecting from our customers or agencies for changes in contract specifications or design, contract change orders in dispute or unapproved as to scope and price, or other related causes of unanticipated additional contract costs. Claims are limited to costs incurred and are recorded at estimated realizable value when collection is probable and can be reasonably estimated. We do not recognize profits on construction costs incurred in connection with claims. Claims made by us involve negotiation and, in certain cases, litigation. Such litigation costs are expensed as incurred. As of September 30, 2011, 2010 and 2009, there were no material revenues recorded associated with any claims.

Accounts Receivable and Allowance for Doubtful Accounts

We record accounts receivable for all amounts billed and not collected. Generally, we do not charge interest on outstanding accounts receivable; however, from time to time we may believe it necessary to charge interest on a case by case basis. Additionally, we provide an allowance for doubtful accounts for specific accounts receivable where collection is considered doubtful as well as for general unknown collection issues based on historical trends. Accounts receivable not determined to be collectible are written off as deemed necessary in the period such determination is made. As is common in the construction industry, some of these receivables are in litigation or require us to exercise our contractual lien rights in order to collect. These receivables are primarily associated with a few divisions within our Commercial & Industrial segment. Certain other receivables are slow-pay in nature and require us to exercise our contractual or lien rights. We believe that our allowance for doubtful accounts is sufficient to cover uncollectible receivables as of September 30, 2011.

Comprehensive Income

Comprehensive income includes all changes in equity during a period except those resulting from investments by and distributions to stockholders.

Advertising

Advertising and marketing expense for the years ended September 30, 2011, 2010 and 2009 was approximately $512, $1,547, and $1,895, respectively. Advertising costs are charged to expense as incurred and are included in the “Selling, general and administrative expenses” line item on the Consolidated Statements of Operations.

Income Taxes

We follow the asset and liability method of accounting for income taxes. Under this method, deferred income tax assets and liabilities are recorded for the future income tax consequences of temporary differences between the financial reporting and income tax bases of assets and liabilities, and are measured using enacted tax rates and laws.

We regularly evaluate valuation allowances established for deferred tax assets for which future realization is uncertain. We perform this evaluation at least annually at the end of each fiscal year. The estimation of required valuation allowances includes estimates of future taxable income. In assessing the realizability of deferred tax assets at September 30, 2011, we considered whether it was more likely than not that some portion or all of the deferred tax assets would not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. We consider the scheduled reversal of deferred tax liabilities, projected future taxable income and tax planning strategies in making this assessment. If actual future taxable income is different from the estimates, our results could be affected. We have determined to fully reserve against such an occurrence. Prior to October 1, 2009, to the extent that we realize benefits from the usage of our pre-emergence deferred tax assets; such benefits first reduced goodwill, then other long-term intangible assets, then additional paid-in capital. Beginning October 1, 2009, with the adoption of new standards, reductions in the valuation allowance attributable to all periods, if any should occur, will be recorded as an adjustment to our income tax expense. We believe the impact of the new standards will be significant in the period in which we determine that a reduction in the valuation allowance is warranted.

On May 12, 2006, we had a change in ownership as defined in Internal Revenue Code Section 382. Internal Revenue Code Section 382 limits the utilization of net operating losses that existed as of the change in ownership in tax periods subsequent to the change in ownership. As such, our net operating loss utilization after the change date will be subject to Internal Revenue Code Section 382 limitations for federal income taxes and some state income taxes. We have provided valuation allowances on all net operating losses where it is determined it is more likely than not that they will expire without being utilized.

Risk-Management

We retain the risk for workers' compensation, employer's liability, automobile liability, general liability and employee group health claims, resulting from uninsured deductibles per accident or occurrence which are subject to annual aggregate limits. Our general liability program provides coverage for bodily injury and property damage. Losses up to the deductible amounts are accrued based upon our known claims incurred and an estimate of claims incurred but not reported. For the year ended September 30, 2011, we compiled our historical data pertaining to the insurance experiences and actuarially developed the ultimate loss associated with our insurance programs. We believe that the actuarial valuation provides the best estimate of the ultimate losses to be expected under these programs.

The undiscounted ultimate losses of all insurance reserves at September 30, 2011 and 2010, was $8,353 and $7,082, respectively. Based on historical payment patterns, we expect payments of undiscounted ultimate losses to be made as follows:

Year Ended September 30:
	2012	$	3,666
	2013		1,711
	2014		1,005
	2015		590
	2016		378
	Thereafter		1,003
Total		$	8,353

We elect to discount the ultimate losses above to present value using an approximate risk-free rate over the average life of our insurance claims. For the years ended September 30, 2011 and 2010, the discount rate used was 1.0 percent and 1.3 percent, respectively. The decrease in discount rate is driven by the prolonged decline in interest rates and a decrease in the average life of our associated claims. The present value of all insurance reserves for the employee group health claims, workers' compensation, auto and general liability recorded at September 30, 2011 and 2010 was $7,040 and $6,916, respectively. Our employee group health claims are anticipated to be resolved within the year ended September 30, 2012.

We had letters of credit of $8,182 outstanding at September 30, 2011 to collateralize our high deductible insurance obligations.

Realization of Long-Lived and Intangible Assets

We evaluate the recoverability of property and equipment, intangible assets and other long-lived assets at least annually, or as facts and circumstances indicate that any of those assets might be impaired. If an evaluation is required, the estimated future undiscounted cash flows associated with the asset are compared to the asset's carrying amount to determine if an impairment of such property has occurred. The effect of any impairment would be to expense the difference between the fair value of such property and its carrying value. Estimated fair values are determined based on expected future cash flows discounted at a rate we believe incorporates the time value of money, the expectations about future cash flows and an appropriate risk premium.

At September 30, 2011, 2010 and 2009, we performed evaluations of our long-lived assets. These evaluations resulted in impairment charges as described above under “Asset Impairment” and “Goodwill.”

Risk Concentration

Financial instruments, which potentially subject us to concentrations of credit risk, consist principally of cash deposits and accounts receivable. We grant credit, usually without collateral, to our customers, who are generally contractors and homebuilders throughout the United States. Consequently, we are subject to potential credit risk related to changes in business and economic factors throughout the United States within the construction and homebuilding market. However, we are entitled to payment for work performed and have certain lien rights in that work. Further, management believes that its contract acceptance, billing and collection policies are adequate to manage potential credit risk. We routinely maintain cash balances in financial institutions in excess of federally insured limits. We periodically assess the financial condition of these institutions where these funds are held and believe the credit risk is minimal. As a result of recent credit market turmoil we maintain the majority of our cash and cash equivalents in money market mutual funds.

No single customer accounted for more than 10% of our revenues for the years ended September 30, 2011, 2010 and 2009.

Fair Value of Financial Instruments

Our financial instruments consist of cash and cash equivalents, accounts receivable, notes receivable, investments, accounts payable, a line of credit, a note payable issued to finance an insurance policy, and a $10,000 senior subordinated loan agreement (the “Tontine Term Loan”). We believe that the carrying value of financial instruments, with the exception of the Tontine Term Loan and our cost method investment in EnerTech, in the accompanying Consolidated Balance Sheets, approximates their fair value due to their short-term nature. We estimate that the fair value of the Tontine Term Loan is $10,649 based on comparable debt instruments at September 30, 2011. For additional information, please refer to Note 8, “Debt – The Tontine Term Loan” of this report.

We estimate that the fair value of our investment in EnerTech is $1,003 at September 30, 2011. For additional information, please refer to Note 7, “Detail of Certain Balance Sheet Accounts – Securities and Equity Investments – Investment in EnerTech.

Stock-Based Compensation

We measure and record compensation expense for all share-based payment awards based on the fair value of the awards granted, net of estimated forfeitures, at the date of grant. We calculate the fair value of stock options using a binomial option pricing model. The fair value of restricted stock awards is determined based on the number of shares granted and the closing price of IES's common stock on the date of grant. Forfeitures are estimated at the time of grant and revised as deemed necessary. The resulting compensation expense from discretionary awards is recognized on a straight-line basis over the requisite service period, which is generally the vesting period, while compensation expense from performance based awards is recognized using the graded vesting method over the requisite service period. The cash flows resulting from the tax deductions in excess of the compensation expense recognized for options and restricted stock (excess tax benefit) are classified as financing cash flows.

Deferred Compensation Plans

The Company maintains a rabbi trust to fund certain deferred compensation plans. The securities held by the trust are classified as trading securities. The investments are recorded at fair value and are classified as other non-current assets in the accompanying Consolidated Balance Sheets as of September 30, 2011 and 2010. The changes in fair values are recorded as unrealized gains (losses) as a component of other income (expense) in the Consolidated Statements of Operations.

The corresponding deferred compensation liability is included in other non-current liabilities on the Consolidated Balance Sheets and changes in this obligation are recognized as adjustments to compensation expense in the period in which they are determined.

Controlling Shareholder

12 Months Ended

Sep. 30, 2011

Controlling Shareholder [Abstract]

Controlling Shareholder

3. CONTROLLING SHAREHOLDER

On April 30, 2010, we prepaid $15,000 of the original $25,000 principal outstanding on the Tontine Term Loan. and $10,000 remains outstanding on the Tontine Term Loan.

Although Tontine has not indicated any plans to alter its ownership level, should Tontine reconsider its investment plans and sell its controlling interest in the Company, a change in ownership would occur. A change in ownership, as defined by Internal Revenue Code Section 382, could reduce the availability of net operating losses for federal and state income tax purposes. Furthermore, a change in control would trigger the change of control provisions in a number of our material agreements, including our $40,000 Revolving Credit Facility, bonding agreements with our sureties and certain employment contracts with certain officers and employees of the Company.

Strategic Actions

12 Months Ended

Sep. 30, 2011

Strategic Actions [Abstract]

Strategic Actions

4. STRATEGIC ACTIONS

We are focused on return on capital and cash flow to maximize long-term shareholder value. As a result, we have increased our focus on a number of initiatives to return the Company to profitability. Included in these initiatives has been the closure or sale of a number of facilities within our Commercial & Industrial segment. During 2011, we initiated the sale or closure of all or portions of our Commercial & Industrial facilities in Arizona, Florida, Iowa, Louisiana, Massachusetts, Nevada and Texas. We continue to evaluate the performance of the remaining operations in our Commercial & Industrial segment, which continues to operate in a very challenging environment. If we were to elect to dispose of a substantial portion of our remaining Commercial & Industrial segment, the realized values of such actions would be substantially less than current book values, which would likely result in a material adverse impact on our financial results..

The 2009 Restructuring Plan

In the first quarter of our 2009 fiscal year, we began a restructuring program (the “2009 Restructuring Plan”) that was designed to consolidate operations within our three segments. The 2009 Restructuring Plan was the next level of our business optimization strategy. Our plan was to streamline local project and support operations, which were managed through regional operating centers, and to capitalize on the investments we had made over the past year to further leverage our resources. We accelerated our trade name amortization during the 2009 fiscal year recording a charge of $1,609 that has been identified within the “Restructuring Charges” caption in our Consolidated Statements of Operations.

In addition, as a result of the continuing significant effects of the recession, during the third quarter of fiscal year 2009, we implemented a more expansive cost reduction program, by further reducing administrative personnel, primarily in the corporate office, and consolidating our Commercial & Industrial administrative functions into one service center. We recorded at total of $8,170 in restructuring charges for the 2009 Restructuring Plan. As part of the restructuring charges, we recognized $154, $2,662, $3,917 and $1,437 in severance and facility closing charges within our Communications, Residential, Commercial & Industrial and Corporate segments, respectively.

The 2011 Restructuring Plan

In the second quarter of our 2011 fiscal year, we began a new restructuring program (the “2011 Restructuring Plan”) that was designed to consolidate operations within our Commercial & Industrial business. Pursuant to the 2011 Restructuring Plan, during the next six to twelve months, we will either sell or close certain underperforming facilities within our Commercial & Industrial operations. The 2011 Restructuring Plan is a key element of our commitment to return the Company to profitability.

The facilities directly affected by the 2011 Restructuring Plan are in several locations throughout the country, including Arizona, Florida, Iowa, Massachusetts, Louisiana, Nevada and Texas. These facilities were selected due to current business prospects and the extended time frame needed to return the facilities to a profitable position. We expect that closure costs could range from $4,500 to $5,500 in the aggregate. Closure costs associated with the 2011 Restructuring Plan include equipment and facility lease termination expenses, incremental management consulting expenses and severance costs for employees. The Company is in the process of winding down these facilities. As part of our restructuring charges within our Commercial & Industrial segment we recognized $1,455 in severance costs, $1,530 in consulting services, and $799 in costs related to lease terminations.

The 2011 Restructuring Plan pertains only to our Commercial & Industrial segment. The following table summarizes the activities related to our restructuring activities by component:

	Severance		Consulting		Lease Termination
	Charges		Charges		& Other Charges		Total

Restructuring charges incurred		1,455		1,530		799		3,784
Cash payments made		(374)		(1,194)		(9)		(1,577)
Restructuring liability at September 30, 2011	$	1,081	$	336	$	790	$	2,207

- Definition

The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled.

+ References + Details

Property And Equipment

12 Months Ended

Sep. 30, 2011

Property And Equipment [Abstract]

Property And Equipment

5. PROPERTY AND EQUIPMENT

Property and equipment consists of the following:

	Estimated
	Useful Lives	Years Ended September 30,
	in Years	2011		2010
Land	N/A	$	1,795	$	2,797
Buildings	5-20		3,030		6,066
Transportation equipment	3-5		1,695		2,807
Machinery and equipment	3-10		3,077		4,556
Leasehold improvements	5-10		1,703		2,267
Information systems	2-8		8,939		20,681
Furniture and fixtures	5-7		1,942		2,590
		$	22,181	$	41,764
Less--Accumulated depreciation and amortization			(14,165)		(21,868)
Property and equipment, net		$	8,016	$	19,896

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

+ References + Details

Per Share Information

12 Months Ended

Sep. 30, 2011

Per Share Information [Abstract]

Per Share Information

6. PER SHARE INFORMATION

Basic earnings per share is calculated as income (loss) available to common stockholders, divided by the weighted average number of common shares outstanding during the period. If the effect is dilutive, participating securities are included in the computation of basic earnings per share. Our participating securities do not have a contractual obligation to share in the losses in any given period. As a result, these participating securities will not be allocated any losses in the periods of net losses, but will be allocated income in the periods of net income using the two-class method.

The following table reconciles the components of the basic and diluted earnings (loss) per share for the years ended September 30, 2011, 2010 and 2009 (in thousands, except share information):

	Years Ended September 30,
	2011		2010		2009
Numerator:	Restated		Restated		Restated
Net income (loss) from continuing operations attributable to common shareholders	$	(37,823)	$	(31,155)	$	(12,186)
Net income (loss) from continuing operations attributable to restricted shareholders		-		-		-
Net income (loss) from continuing operations	$	(37,823)	$	(31,155)	$	(12,186)
Net income (loss) from discontinued operations attributable to common shareholders	$	-	$	-	$	117
Net income (loss) from discontinued operations attributable to restricted shareholders		-		-		2
Net income (loss) from discontinued operations	$	-	$	-	$	119
Net income (loss) attributable to common shareholders	$	(37,823)	$	(31,155)	$	(12,067)
Net income (loss) attributable to restricted shareholders		-		-		-
Net income (loss)	$	(37,823)	$	(31,155)	$	(12,067)

Denominator:
Weighted average common shares outstanding — basic		14,493,747		14,409,368		14,331,614
Effect of dilutive stock options and non-vested restricted stock		-		-		-
Weighted average common and common equivalent shares outstanding — diluted		14,493,747		14,409,368		14,331,614

Basic earnings (loss) per share:
Basic earnings (loss) per share from continuing operations	$	(2.61)	$	(2.16)	$	(0.85)
Basic earnings (loss) per share from discontinued operations	$	0.00	$	0.00	$	0.01
Basic loss per share	$	(2.61)	$	(2.16)	$	(0.84)
Diluted earnings (loss) per share:
Diluted earnings (loss) per share from continuing operations	$	(2.61)	$	(2.16)	$	(0.85)
Diluted earnings (loss) per share from discontinued operations	$	0.00	$	0.00	$	0.01
Diluted loss per share	$	(2.61)	$	(2.16)	$	(0.84)

For the years ended September 30, 2011, 2010 and 2009, 20,000, 158,500 and 158,500 stock options, respectively, were excluded from the computation of fully diluted earnings per share because the exercise prices of the options were greater than the average price of our common stock. For the years ended September 30, 2011, 2010 and 2009, 376,200, 348,086 and 230,176 shares, respectively, of restricted stock were excluded from the computation of fully diluted earnings per share because we reported a loss from continuing operations.

Detail Of Certain Balance Sheet Accounts

12 Months Ended

Sep. 30, 2011

Detail Of Certain Balance Sheet Accounts [Abstract]

Detail Of Certain Balance Sheet Accounts

7. DETAIL OF CERTAIN BALANCE SHEET ACCOUNTS

Activity in our allowance for doubtful accounts on accounts and long-term receivables consists of the following:

	Years Ended September 30,
	2011		2010
Balance at beginning of period	$	7,429	$	3,574
Additions to costs and expenses		1,071		7,440
Deductions for uncollectible receivables written off, net of recoveries		(5,795)		(3,585)
Balance at end of period	$	2,705	$	7,429

Accounts payable and accrued expenses consist of the following:

	Years Ended September 30,
	2011		2010
	Restated		Restated
Accounts payable, trade	$	49,556	$	38,395
Accrued compensation and benefits		11,662		11,315
Accrued insurance liabilities		7,040		6,915
Other accrued expenses		10,722		16,174
	$	78,980	$	72,799

Contracts in progress are as follows:

	Years Ended September 30,
	2011		2010
Costs incurred on contracts in progress	$	335,204	$	362,594
Estimated earnings		21,942		47,656
		357,146		410,250
Less--Billings to date		(366,768)		(410,945)
Net contracts in progress	$	(9,622)	$	(695)
Costs and estimated earnings in excess of billings on uncompleted contracts		9,963		14,549
Less--Billings in excess of costs and estimated earnings on uncompleted contracts		(19,585)		(15,244)
Net contracts in progress	$	(9,622)	$	(695)

Other non-current assets are comprised of the following:

	Years Ended September 30,
	2011		2010
Deposits	$	3,986	$	6,587
Deferred tax assets		1,040		1,677
Executive Savings Plan assets		477		889
Securities and equity investments		1,003		2,065
Other		581		664
Total	$	7,087	$	11,882

Securities and Equity Investments

Investment in EPV Solar

We assessed the fair market value of our investment in EPV after its restructuring in 2009 and determined that it was below its carrying value. Accordingly, we recorded a $2,850 other-than-temporary impairment loss for the year ended September 30, 2009. The total impairment loss is reflected in our Consolidated Statements of Operations as a component of Other Expense and reduced the carrying value of our investment from $3,000 to $150 at September 30, 2009.

On February 24, 2010, EPV filed for Chapter 11 bankruptcy protection. On August 20, 2010, the United States Bankruptcy Court District of New Jersey authorized and approved the sale of substantially all of EPV's assets free and clear of liens, claims, encumbrances and interests to a third-party solar company. As this sale cancelled our claims to our convertible note receivable, we recorded an impairment loss of $150 during the year ended September 30, 2010, which reduced its carrying value to $0.

Investment in EnerTech

In April 2000, we committed to invest up to $5,000 in EnerTech. Through September 30, 2011, we have fulfilled our $5,000 investment under this commitment. As our investment is 2% of the overall ownership in EnerTech at September 30, 2011 and 2010, we account for this investment using the cost method of accounting. EnerTech's investment portfolio from time to time results in unrealized losses reflecting a possible, other-than-temporary, impairment of our investment. The carrying value of our investment in EnerTech at September 30, 2011 and 2010 was $1,003 and $2,005, respectively. Our results of operations for the year ended September 30, 2011 includes a write down of $967 attributable to our investment in EnerTech.

The following table presents the reconciliation of the carrying value and unrealized gains (losses) to the fair value of the investment in EnerTech as of September 30, 2011 and 2010:

	Years Ended September 30,
	2011		2010
Carrying value	$	1,003	$	2,005
Unrealized gains (losses)		-		(179)
Fair value	$	1,003	$	1,826

At each reporting date, the Company performs evaluations of impairment for securities to determine if the unrealized losses are other-than-temporary. For equity securities, this evaluation considers a number of factors including, but not limited to, the length of time and extent to which the fair value has been less than cost, the financial condition and near term prospects of the issuer and management's ability and intent to hold the securities until fair value recovers. The assessment of the ability and intent to hold these securities to recovery focuses on liquidity needs, asset and liability management objectives and securities portfolio objectives. Based on the results of this evaluation, we believe the unrealized losses at September 30, 2011 is other than temporary, and have adjusted the carrying value accordingly. As of September 30, 2011 and 2010, the carrying value of these investments was $1,003 and $2,005, respectively. See Note 15, “Fair Value Measurements” for related disclosures relative to fair value measurements.

On December 31, 2010, EnerTech's general partner, with the consent of the fund's investors, extended the fund through December 31, 2011. The fund will terminate on this date unless extended by the fund's valuation committee. The fund may be extended for another one-year period through December 31, 2012 with the consent of the fund's valuation committee.

Arbinet Corporation

On May 15, 2006, we received a distribution from the investment in EnerTech of 32,967 shares in Arbinet Corporation. We sold these shares in fiscal 2011; accordingly, the amount of unrealized holding losses included in other comprehensive income at September 30, 2011 and 2010 is $0 and $88, respectively.

Debt

12 Months Ended

Sep. 30, 2011

Debt [Abstract]

Debt

8. DEBT

Debt consists of the following:

		Years Ended September 30,
		2011		2010
Tontine Term Loan, due May 15, 2013, bearing interest at 11.00%		$	10,000	$	10,000
Insurance Financing Agreements			-		653
Capital leases and other			498		603
	Total debt		10,498		11,256
Less — Short-term debt and current maturities of long-term debt			(209)		(808)
	Total long-term debt	$	10,289	$	10,448

Future payments on debt at September 30, 2011 are as follows:

	Capital Leases		Term Debt		Total

2012	$	320	$	-	$	320
2013		319		10,000		10,319
2014		26		-		26
2015		-		-		-
2016		-		-		-
Thereafter		-		-		-
Less: Imputed Interest		(167)		-		(167)

Total	$	498	$	10,000	$	10,498

For the years ended September 30, 2011, 2010 and 2009, we incurred interest expense of $2,277, $3,513 and $4,526, respectively.

The Revolving Credit Facility

On May 12, 2006, we entered into a Loan and Security Agreement (the “Loan and Security Agreement”), for a revolving credit facility (the “Revolving Credit Facility”) with Bank of America, N.A. and certain other lenders. On May 7, 2008, we renegotiated the terms of our Revolving Credit Facility and entered into an amended agreement with the same financial institutions. On April 30, 2010, we renegotiated the terms of, and entered into an amendment to the Loan and Security Agreement pursuant to which the maturity date was extended to May 31, 2012. In connection with the amendment, we incurred an amendment fee of $200, which is being amortized over 24 months.

On December 15, 2011, we renegotiated the terms of, and entered into an amendment to, the Loan and Security Agreement without incurring termination charges. Under the terms of the amended Revolving Credit Facility, the size of the facility was reduced to $40,000 and the maturity date was extended to November 12, 2012. Further, we were required to cash collateralize all of our letters of credit issued by the banks. The cash collateral is added to the borrowing base calculation at 100% through out the term of the agreement. The Revolving Credit Facility requires that we maintain a fixed charge coverage ratio of not less than 1.0:1.0 at any time that our aggregate amount of unrestricted cash on hand plus availability is less than $25,000 and, thereafter, until such time as our aggregate amount of unrestricted cash on hand plus availability has been at least $25,000 for a period of 60 consecutive days. Additionally, if there are any loans outstanding on or after the April 30, 2012, the Company's EBITDA for the period from October 2011 through March 2012, may not exceed a negative $2,500 and we will be required to have a cumulative fixed charge coverage ratio of at least 1.0:1.0 at all times beginning April 1, 2012 to maintain any borrowings under the agreement. The measurement period for this additional test for borrowings begins with the monthly operating results for April 2012 and adds the monthly operating results for each month thereafter to determine the cumulative test during such time as revolving loans are outstanding. Failure to meet this performance test will result in an immediate event of default. The amended Agreement also calls for cost of borrowings of 4.0% over LIBOR per annum. Cost for letters of credit are the same as borrowings and also include a 25 basis point “fronting fee.” All other terms and conditions remain unchanged. In connection with the amendment, we incurred an amendment fee of $60 which, together with unamortized balance of the prior amendment is being amortized using the straight line method through November 12, 2012.

The Revolving Credit Facility is guaranteed by our subsidiaries and secured by first priority liens on substantially all of our subsidiaries' existing and future acquired assets, exclusive of collateral provided to our surety providers. The Revolving Credit Facility contains customary affirmative, negative and financial covenants. The Revolving Credit Facility also restricts us from paying cash dividends and places limitations on our ability to repurchase our common stock.

Borrowings under the Revolving Credit Facility may not exceed a “borrowing base” that is determined monthly by our lenders based on available collateral, primarily certain accounts receivables and inventories. Under the terms of the Revolving Credit Facility in effect as of September 30, 2011, interest for loans and letter of credit fees is based on our Total Liquidity, which is calculated for any given period as the sum of average daily availability for such period plus average daily unrestricted cash on hand for such period as follows:

		Annual Interest Rate for
Total Liquidity	Annual Interest Rate for Loans	Letters of Credit

Greater than or equal to $60,000	LIBOR plus 3.00% or Base Rate plus 1.00%	3.00% plus 0.25% fronting fee
Greater than $40,000 and less than $60,000	LIBOR plus 3.25% or Base Rate plus 1.25%	3.25% plus 0.25% fronting fee
Less than or equal to $40,000	LIBOR plus 3.50% or Base Rate plus 1.50%	3.50% plus 0.25% fronting fee

At September 30, 2011, we had $19,121 available to us under the Revolving Credit Facility, $8,812 in outstanding letters of credit and no outstanding borrowings.

At September 30, 2011, our Total Liquidity was $54,698. For the year ended September 30, 2011, we paid no interest for loans under the Revolving Credit Facility and had a weighted average interest rate, including fronting fees, of 3.55% for letters of credit. In addition, we are charged monthly in arrears (1) an unused commitment fee of 0.50%, and (2) certain other fees and charges as specified in the Loan and Security Agreement, as amended.

As of September 30, 2011, we were subject to the financial covenant under the Revolving Credit Facility requiring that we maintain a fixed charge coverage ratio of not less than 1.0:1.0 at any time that our aggregate amount of unrestricted cash on hand plus availability is less than $25,000 and, thereafter, until such time as our aggregate amount of unrestricted cash on hand plus availability has been at least $25,000 for a period of 60 consecutive days. As of September 30, 2011, our Total Liquidity was in excess of $25,000. Had our Total Liquidity been less than $25,000 at September 30, 2011, we would not have met the 1.0:1.0 fixed charge coverage ratio test, had it been applicable.

While we expect to meet our financial covenants, in the event that we are not able to meet the covenants of our amended Revolving Credit Facility in the future and are unsuccessful in obtaining a waiver from our lenders, the Company expects to have adequate cash on hand to fully collateralize our outstanding letters of credit and to provide sufficient cash for ongoing operations.

The Tontine Term Loan

On December 12, 2007, we entered into the Tontine Term Loan, a $25,000 senior subordinated loan agreement, with Tontine. The Tontine Term Loan bears interest at 11.0% per annum and is due on May 15, 2013. Interest is payable quarterly in cash or in-kind at our option. Any interest paid in-kind will bear interest at 11.0% in addition to the loan principal. On April 30, 2010, we prepaid $15,000 of principal on the Tontine Term Loan. On May 1, 2010, Tontine assigned the Tontine Term Loan to TCP Overseas Master Fund II, L.P. We may repay the Tontine Term Loan at any time prior to the maturity date at par, plus accrued interest without penalty. The Tontine Term Loan is subordinated to the Revolving Credit Facility. The Tontine Term Loan is an unsecured obligation of the Company and its subsidiary borrowers. The Tontine Term Loan contains no financial covenants or restrictions on dividends or distributions to stockholders.

Capital Lease

The Company leases certain equipment under agreements, which are classified as capital leases and included in property, plant and equipment. Amortization of this equipment for the years ended September 30, 2011, 2010 and 2009 was $172, $156 and $112, respectively, which is included in depreciation expense in the accompanying statements of operations.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References + Details

Leases

12 Months Ended

Sep. 30, 2011

Leases [Abstract]

Leases

9. LEASES

We enter into non-cancelable operating leases for many of our facility, vehicle and equipment needs. These leases allow us to retain cash, and we pay a monthly lease rental fee. At the end of the lease, we have no further obligation to the lessor. We may cancel or terminate a lease before the end of its term. Typically, we would be liable to the lessor for various lease cancellation or termination costs and the difference between the fair market value of the leased asset and the implied book value of the leased asset as calculated in accordance with the lease agreement.

For a discussion of leases with certain related parties which are included below, see Note 13, “Related-Party Transactions.”

Rent expense was $5,195, $5,931 and $6,977 for the years ended September 30, 2011, 2010 and 2009, respectively. Future minimum lease payments under these non-cancelable operating leases with terms in excess of one year are as follows:

Year Ended September 30:
2012	$	5,577
2013		3,077
2014		1,765
2015		967
2016		530
Thereafter		942
Total	$	12,860

- Definition

The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing.

+ References + Details

Income Taxes

12 Months Ended

Sep. 30, 2011

Income Taxes [Abstract]

Income Taxes

10. INCOME TAXES

Federal and state income tax provisions for continuing operations are as follows:

		Years Ended September 30,
		2011		2010		2009
Federal:
	Current	$	-	$	-	$	-
	Deferred		-		-		(28)
State:
	Current		224		119		350
	Deferred		(78)		(150)		173
		$	146	$	(31)	$	495

Actual income tax expense differs from income tax expense computed by applying the U.S. federal statutory corporate rate of 35 percent to income before provision for income taxes as follows:

		Years Ended September 30,
		2011		2010		2009
Provision (benefit) at the statutory rate		$	(13,187)	$	(10,915)	$	(4,092)
Increase resulting from:
	Non-deductible expenses		565		533		603
	State income taxes, net of federal deduction		-		-		60
	Change in valuation allowance		13,790		10,974		3,884
	Contingent tax liabilities		(73)		-		-
	Other		16		31		57
Decrease resulting from:
	Change in valuation allowance		-		-		-
	State income taxes, net of federal deduction		(965)		(421)		-
	Other		-		(233)		(17)
		$	146	$	(31)	$	495

Deferred income tax provisions result from temporary differences in the recognition of income and expenses for financial reporting purposes and for income tax purposes. The income tax effects of these temporary differences, representing deferred income tax assets and liabilities, result principally from the following:

		Years Ended September 30,
		2011		2010
Deferred income tax assets:
	Allowance for doubtful accounts	$	998	$	1,269
	Accrued expenses		5,646		5,295
	Net operating loss carryforward		103,650		93,485
	Various reserves		1,728		900
	Equity losses in affiliate		286		98
	Share-based compensation		2,676		2,584
	Capital loss carryforward		3,889		3,901
	Other		1,836		2,083
Subtotal			120,709		109,615
Less valuation allowance			(119,738)		(106,150)
Total deferred income tax assets		$	971	$	3,465
Deferred income tax liabilities:
	Property and equipment	$	-	$	(1,040)
	Deferred contract revenue and other		(106)		(1,598)
Total deferred income tax liabilities			(106)		(2,638)
Net deferred income tax assets		$	865	$	827

In 2002, we adopted a tax accounting method change that allowed us to deduct goodwill for income tax purposes that had previously been classified as non-deductible. The accounting method change resulted in additional amortizable tax basis in goodwill. We believe the realization of the additional tax basis in goodwill is less than probable and have not recorded a deferred tax asset. Although a deferred tax asset has not been recorded through September 30, 2011, we have derived a cumulative cash tax reduction of $11,438 from the change in tax accounting method and the subsequent amortization of the additional tax goodwill. In addition, the amortization of the additional tax goodwill has resulted in additional federal net operating loss carry forwards of $135,820 and state net operating loss carry forwards of $11,981. We believe the realization of the additional net operating loss carry forwards is less than probable and have not recorded a deferred tax asset. We have $6,007 of tax basis in the additional tax goodwill that remains to be amortized. As of September 30, 2011, approximately two years remain to be amortized.

As of September 30, 2011, we had available approximately $435,104 of federal net tax operating loss carry forward for federal income tax purposes, including $135,820 resulting from the additional amortization of tax goodwill. This carry forward, which may provide future tax benefits, will begin to expire in 2022. On May 12, 2006, we had a change in ownership as defined in Internal Revenue Code Section 382. As such, our net operating loss utilization after the change date will be subject to Section 382 limitations for federal income taxes and some state income taxes. The annual limitation under Section 382 on the utilization of federal net operating losses will be approximately $20,000 for the first five tax years subsequent to the change in ownership and $16,000 thereafter. Approximately $263,869 of federal net operating losses will not be subject to this limitation. Also, after applying the Section 382 limitation to available state net operating loss carry forwards, we had available approximately $126,487 state net tax operating loss carry forwards, including $11,981 resulting from the additional amortization of tax goodwill which begin to expire as of September 30, 2011. We have provided valuation allowances on all net operating losses where it is determined it is more likely than not that they will expire without being utilized.

In assessing the realizability of deferred tax assets at September 30, 2011, we considered whether it was more likely than not that some portion or all of the deferred tax assets will not be realized. Our realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which these temporary differences become deductible. However, GAAP guidelines place considerably more weight on historical results and less weight on future projections when there is negative evidence such as cumulative pretax losses in recent years. We incurred a cumulative pretax loss for September 30, 2011, 2010 and 2009. In the absence of specific favorable evidence of sufficient weight to offset the negative evidence of the cumulative pretax loss, we have provided valuation allowances of $114,201 for all federal deferred tax assets and $5,537 for certain state deferred tax assets. We believe that $373 of federal deferred tax assets will be realized by offsetting reversing deferred tax liabilities. We believe that $865 of state deferred tax assets will be realized and valuation allowances were not provided for these assets. We will evaluate the appropriateness of our remaining deferred tax assets and valuation allowances on at least annually at the end of each fiscal year.

Prior to October 1, 2009, to the extent that we realize benefits from the usage of certain pre-emergence deferred tax assets resulting in a reduction in pre-emergence valuation allowances and to the extent we realize a benefit related to pre-emergence unrecognized tax benefits; such benefits will first reduce goodwill, then other long-term intangible assets, then additional paid-in capital. Beginning October 1, 2009, with the adoption of the new standards, reductions in pre-emergence valuation allowances or realization of pre-emergence unrecognized tax benefit will be recorded as an adjustment to our income tax expense. We believe future reductions in pre-emergence valuation allowance or realization of pre-emergence unrecognized tax benefits could have a material impact on the Consolidated Financial Statements.

As a result of the reorganization and related adjustment to the book basis in goodwill, we have tax basis in excess of book basis in amortizable goodwill of approximately $23,902. The tax basis in amortizable goodwill in excess of book basis is not reflected as a deferred tax asset. To the extent the amortization of the excess tax basis results in a cash tax benefit, the benefit will first go to reduce goodwill, then other long-term intangible assets, and then additional paid-in capital. As of September 30, 2011, we have received $72 in cash tax benefits related to the amortization of excess tax basis.

GAAP requires financial statement reporting of the expected future tax consequences of uncertain tax return reporting positions on the presumption that all relevant tax authorities possess full knowledge of those tax reporting positions, as well as all of the pertinent facts and circumstances, but it prohibits discounting of any of the related tax effects for the time value of money. The evaluation of a tax position is a two-step process. The first step is the recognition process to determine if it is more likely than not that a tax position will be sustained upon examination by the appropriate taxing authority, based on the technical merits of the position. The second step is a measurement process whereby a tax position that meets the more likely than not recognition threshold is calculated to determine the amount of benefit/expense to recognize in the financial statements. The tax position is measured at the largest amount of benefit/expense that is more likely than not of being realized upon ultimate settlement.

A reconciliation of the beginning and ending balances of unrecognized tax liabilities is as follows:

Balance at October 1, 2010	$	5,613
Additions for position related to current year		5
Additions for positions of prior years		13
Reduction resulting from the lapse of the applicable statutes of limitations		(86)
Reduction resulting from settlement of positions of prior years		-
Balance at September 30, 2011	$	5,545

As of September 30, 2011, $5,545 of unrecognized tax benefit would result in a decrease in the provision for income tax expense. We anticipate that approximately $76 of unrecognized tax benefits, including accrued interest, may reverse in the next twelve months. The reversal is predominately due to the expiration of the statutes of limitation for unrecognized tax benefits.

We had approximately $178 and $190 accrued for the payment of interest and penalties at September 30, 2011 and 2010, respectively. We recognize interest and penalties related to unrecognized tax benefits as part of the provision for income taxes.

We are currently not under federal audit by the Internal Revenue Service. The tax years ended September 30, 2008 and forward are subject to audit as are tax years prior to September 30, 2008, to the extent of unutilized net operating losses generated in those years.

The net deferred income tax assets and liabilities are comprised of the following:

			Years Ended September 30,
			2011		2010
	Current deferred income taxes:
		Assets	$	216	$	1,800
		Liabilities		(107)		(1,605)
	Net deferred tax asset, current		$	109	$	195
	Noncurrent deferred income taxes:
		Assets	$	1,040	$	1,678
		Liabilities		(284)		(1,046)
	Net deferred tax asset, non-current			756		632
Net deferred income tax assets			$	865	$	827

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Paragraph h
-Article 4

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 109
-Paragraph 136, 172
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 109
-Paragraph 43, 44, 45, 46, 47, 48, 49
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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-Subparagraph (SX 210.4-08.(h))
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+ Details

Operating Segments

12 Months Ended

Sep. 30, 2011

Operating Segments [Abstract]

Operating Segments

11. OPERATING SEGMENTS

We manage and measure performance of our business in three distinct operating segments: Communications, Residential and Commercial & Industrial. These segments are reflective of how the Company's Chief Operating Decision Maker (“CODM”) reviews operating results for the purposes of allocating resources and assessing performance. The Company's CODM is its Chief Executive Officer. The Communications segment consists of low voltage installation, design, planning and maintenance for mission critical infrastructure such as data centers. The Residential segment consists of electrical installation, replacement and renovation services in single-family, condominium, townhouse and low-rise multifamily housing units.

The Commercial & Industrial segment provides electrical design, installation, renovation, engineering and maintenance and replacement services in facilities such as office buildings, high-rise apartments and condominiums, theaters, restaurants, hotels, hospitals and critical-care facilities, school districts, light manufacturing and processing facilities, military installations, airports, outside plants, network enterprises, switch network customers, manufacturing and distribution centers, water treatment facilities, refineries, petrochemical and power plants, and alternative energy facilities.

The accounting policies of the segments are the same as those described in the summary of significant accounting policies. We evaluate performance based on income from operations of the respective business units prior to the allocation of Corporate office expenses. Transactions between segments are eliminated in consolidation. Our Corporate office provides general and administrative as well as support services to our three operating segments. Management allocates costs between segments for selling, general and administrative expenses and depreciation expense.

Segment information for the years ended September 30, 2011, 2010 and 2009 is as follows:

		Fiscal Year Ended September 30, 2011 Restated
							Commercial &
			Communications		Residential		Industrial		Corporate		Total
Revenues			$	93,579	$	114,732	$	267,052	$	-	$	475,363
Cost of services				81,018		96,042		262,918		-		439,978
Gross profit				12,561		18,690		4,134		-		35,385
Selling, general and administrative				10,647		18,441		26,257		13,513		68,858
Loss (gain) on sale of assets				-		116		(61)		(6,638)		(6,583)
Asset Impairment				72		-		71		4,661		4,804
Restructuring charge				-		-		3,784		-		3,784
Income (loss) from operations			$	1,842	$	133	$	(25,917)	$	(11,536)	$	(35,478)
Other data:
	Depreciation and amortization expense		$	344	$	514	$	1,699	$	3,849	$	6,406
	Capital expenditures		$	928	$	181	$	431	$	1,148	$	2,688
	Total assets		$	23,073	$	23,584	$	79,506	$	54,081	$	180,244

		Fiscal Year Ended September 30, 2010 Restated
							Commercial &
			Communications		Residential		Industrial		Corporate		Total
Revenues			$	79,344	$	115,947	$	268,139	$	-	$	463,430
Cost of services				65,500		92,422		248,066		-		405,988
Gross profit				13,844		23,525		20,073		-		57,442
Selling, general and administrative				8,028		23,736		38,944		14,169		84,877
(Gain) Loss on sale of assets				(8)		23		(124)		(65)		(174)
Restructuring charge				16		-		698		49		763
Income (loss) from operations			$	5,808	$	(234)	$	(19,445)	$	(14,153)	$	(28,024)
Other data:
	Depreciation and amortization expense		$	431	$	949	$	2,260	$	1,534	$	5,174
	Capital expenditures		$	31	$	178	$	363	$	352	$	924
	Total assets		$	28,092	$	27,279	$	86,335	$	66,154	$	207,860

		Fiscal Year Ended September 30, 2009 Restated
							Commercial &
			Communications		Residential		Industrial		Corporate		Total
Revenues			$	78,724	$	157,586	$	430,727	$	-	$	667,037
Cost of services				66,880		120,743		370,290		-		557,913
Gross profit				11,844		36,843		60,437		-		109,124
Selling, general and administrative				6,629		33,464		51,905		16,173		108,171
Loss (gain) on sale of assets				-		37		(515)		13		(465)
Restructuring charge				138		2,662		3,219		1,388		7,407
Income (loss) from operations			$	5,077	$	680	$	5,828	$	(17,574)	$	(5,989)
Other data:
	Depreciation and amortization expense		$	376	$	3,287	$	3,495	$	1,167	$	8,325
	Capital expenditures		$	79	$	502	$	942	$	3,217	$	4,740
	Total assets		$	19,210	$	39,342	$	107,645	$	104,455	$	270,652

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

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-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 131
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
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+ Details

Stockholders' Equity

12 Months Ended

Sep. 30, 2011

Stockholders' Equity [Abstract]

Stockholders' Equity

12. STOCKHOLDERS' EQUITY

The 2006 Equity Incentive Plan became effective on May 12, 2006 (as amended, the “2006 Equity Incentive Plan”). The 2006 Equity Incentive Plan provides for grants of stock options as well as grants of stock, including restricted stock. We have approximately 1.0 million shares of common stock authorized for issuance under the 2006 Equity Incentive Plan.

On May 12, 2008, 10,555 shares of outstanding common stock that were reserved for issuance upon exchange of previously issued shares pursuant to our Plan were cancelled.

Treasury Stock

On December 12, 2007, our Board of Directors authorized the repurchase of up to one million shares of our common stock, and the Company has established a Rule 10b5-1 plan to facilitate this repurchase. This share repurchase program was authorized through December 2009.

During the year ended September 30, 2011, we repurchased 20,789 common shares from our employees to satisfy tax withholding requirements upon the vesting of restricted stock issued under the 2006 Equity Incentive Plan, and 130,258 unvested shares were forfeited by former employees and returned to treasury stock. We issued 324,000 shares out of treasury stock under our share-based compensation programs. Finally, 9,616 phantom stock units granted to members of the Board of directors vested, triggering an issuance of 9,616 unrestricted shares from the balance held in treasury shares.

Restricted Stock

Restricted Stock Awards:
Fiscal Year	Shares Granted	Weighted Average Fair Value at Date of Grant	Vested	Forefeitures	Shares Outstanding	Expense recognized through September 30, 2011

2006	384,850	$ 24.78	258,347	126,503	-	$ 6,402
2006	25,000	$ 17.36	25,000	-	-	$ 434
2007	20,000	$ 25.08	20,000	-	-	$ 502
2007	4,000	$ 26.48	4,000	-	-	$ 106
2008	101,650	$ 19.17	85,750	15,900	-	$ 1,779
2009	185,100	$ 8.71	146,400	38,700	-	$ 1,344
2010	225,486	$ 3.64	42,701	68,585	114,200	$ 360
2011	320,000	$ 3.39	7,627	50,373	262,000	$ 174

During the years ended September 30, 2011, 2010 and 2009, we recognized $787, $1,272, and $1,748, respectively, in compensation expense related to these restricted stock awards. At September 30, 2011, the unamortized compensation cost related to outstanding unvested restricted stock was $865. We expect to recognize $480 and $299 of this unamortized compensation expense during the years ended September 30, 2012 and 2013, respectively. A summary of restricted stock awards for the years ended September 30, 2011, 2010 and 2009 is provided in the table below:

		Years Ended September 30,
			2011	2010	2009
Unvested at beginning of year			352,086	230,716	171,926
	Granted		320,000	225,486	185,100
	Vested		(165,628)	(66,116)	(126,190)
	Forfeited		(130,258)	(38,000)	(120)
Unvested at end of year			376,200	352,086	230,716

The fair value of shares vesting during the years ended September 30, 2011, 2010 and 2009 was $520, $423 and $1,202, respectively. Fair value was calculated as the number of shares vested times the market price of shares on the date of vesting. The weighted average grant date fair value of unvested restricted stock at September 30, 2011 was $3.41.

All the restricted shares granted under the 2006 Equity Incentive Plan (vested or unvested) participate in dividends issued to common shareholders, if any.

Phantom Stock Units

We recognized $138 in compensation expense for 26,191 shares of performance-based phantom stock units (“PSUs”) are generally granted to the members of the Board of Directors in 2010, and $100 in compensation expense for 24,632 PSUs granted in 2011. These PSU's will be paid via unrestricted stock grants to each director upon his departure from the Board of Directors. In accordance with the separation agreement resulting from the departure of one employee in fiscal 2009, 6,100 PSUs vested and expense of $59 was recorded.

Stock Options

We utilized a binomial option pricing model to measure the fair value of stock options granted. Our determination of fair value of share-based payment awards on the date of grant using an option-pricing model is affected by our stock price as well as assumptions regarding a number of highly complex and subjective variables. These variables include, but are not limited to, our expected stock price volatility over the term of the awards, the risk-free rate of return, and actual and projected employee stock option exercise behaviors. The expected life of stock options is not considered under the binomial option pricing model that we utilize. The assumptions used in the fair value method calculation for the years ended September 30, 2011, 2010 and 2009 are disclosed in the following table:

		Years Ended September 30,
		2011		2010		2009
Weighted average value per option granted during the period		$	2.05		N/A	$	8.56
Dividends (1)		$	-		N/A	$	-
Stock price volatility (2)			69.9%		N/A		86.4%
Risk-free rate of return			1.9%		N/A		1.3%
Option term			10.0 years		N/A		10.0 years
Expected life			6.0 years		N/A		6.0 years
Forfeiture rate (3)			0.0%		N/A		0.0%


	(1) We do not currently pay dividends on our common stock.
	(2) Based upon the Company's historical volatility.
	(3) The forfeiture rate for these options was assumed on the date of grant to be zero based on the limited number of employees who have been awarded stock options.

Stock-based compensation expense recognized during the period is based on the value of the portion of the share-based payment awards that is ultimately expected to vest during the period. As stock-based compensation expense recognized in the Consolidated Statements of Operations is based on awards ultimately expected to vest, it has been reduced for estimated forfeitures. We estimate our forfeitures at the time of grant and revise, if necessary, in subsequent periods if actual forfeitures differ from those estimates.

The following table summarizes activity under our stock option plans.

		Weighted Average
	Shares	Exercise Price
Outstanding, September 30, 2008	161,000	$	26.66
Options granted	7,500		17.09
Exercised	-		-
Forfeited and Cancelled	(10,000)		41.61
Outstanding, September 30, 2009	158,500	$	19.87
Options granted	-		12.31
Exercised	-		-
Forfeited and Cancelled	-		33.35
Outstanding, September 30, 2010	158,500	$	18.66
Options granted	20,000		3.24
Exercised	-		-
Forfeited and Cancelled	(158,500)		18.66
Outstanding, September 30, 2011	20,000	$	3.24

The following table summarizes options outstanding and exercisable at September 30, 2011:

Range of Exercise Prices	Outstanding as of September 30, 2011	Remaining Contractual Life in Years		Weighted-Average Exercise Price	Exercisable as of September 30, 2011		Weighted-Average Exercise Price
$3.24	20,000	9.80	$	3.24	-	$	3.24

	20,000	9.80	$	3.24	-	$	3.24

All of our outstanding options vest over a three-year period at a rate of one-third per year upon the annual anniversary date of the grant and expire ten years from the grant date if they are not exercised. Upon exercise of stock options, it is our policy to first issue shares from treasury stock, then to issue new shares. Unexercised stock options expire between July 2016 and November 2018.

During the years ended September 30, 2011, 2010 and 2009, we recognized $19, $99 and $479, respectively, in compensation expense related to these awards. At September 30, 2011, the unamortized compensation cost related to outstanding unvested stock options was $39. We expect to recognize all of this unamortized compensation expense during the year ended September 30, 2012.

There was no intrinsic value of stock options outstanding and exercisable at September 30, 2011 and 2010, respectively. The intrinsic value is calculated as the difference between the fair value as of the end of the period and the exercise price of the stock options.

- Definition

The entire disclosure for shareholders' equity, comprised of portions attributable to the parent entity and noncontrolling interest, if any, including other comprehensive income (as applicable). Including, but not limited to: (1) balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings; (2) accumulated balance for each classification of other comprehensive income and total amount of comprehensive income; (3) amount and nature of changes in separate accounts, including the number of shares authorized and outstanding, number of shares issued upon exercise and conversion, and for other comprehensive income, the adjustments for reclassifications to net income; (4) rights and privileges of each class of stock authorized; (5) basis of treasury stock, if other than cost, and amounts paid and accounting treatment for treasury stock purchased significantly in excess of market; (6) dividends paid or payable per share and in the aggregate for each class of stock for each period presented; (7) dividend restrictions and accumulated preferred dividends in arrears (in aggregate and per share amount); (8) retained earnings appropriations or restrictions, such as dividend restrictions; (9) impact of change in accounting principle, initial adoption of new accounting principle and correction of an error in previously issued financial statements; (10) shares held in trust for Employee Stock Ownership Plan (ESOP); (11) deferred compensation related to issuance of capital stock; (12) note received for issuance of stock; (13) unamortized discount on shares; (14) description, terms, and number of warrants or rights outstanding; (15) shares under subscription and subscription receivables, effective date of new retained earnings after quasi-reorganization and deficit eliminated by quasi-reorganization and, for a period of at least ten years after the effective date, the point in time from which the new retained dates; and (16) retroactive effective of subsequent change in capital structure.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Principles Board Opinion (APB)
-Number 12
-Paragraph 10
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-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Article 3

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-Name Regulation S-X (SX)
-Number 210
-Article 4
-Section 08
-Paragraph d

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-Name Accounting Research Bulletin (ARB)
-Number 43
-Chapter 1
-Section B
-Paragraph 7, 11A
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-Section 02
-Paragraph 29, 30, 31
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+ Details

Related-Party Transactions

12 Months Ended

Sep. 30, 2011

Related-Party Transactions

13. RELATED-PARTY TRANSACTIONS

In connection with some of our original acquisitions, certain divisions have entered into related party lease arrangements with former owners for facilities. Related party lease expense for the years ended September 30, 2011, 2010 and 2009 was $265, $432 and $446, respectively. Future commitments with respect to these leases are included in the schedule of minimum lease payments in Note 9, “Leases.”

As described more fully in Note 8, “Debt – The Tontine Term Loan,” we entered into a $25,000 term loan with Tontine, a related party, in December 2007. During the years ended September 30, 2011, 2010 and 2009 we incurred interest expense of $1,100, $2,058 and $2,758, respectively, related to this term loan.

- Definition

The entire disclosure for related party transactions, including the nature of the relationship(s), a description of the transactions, the amount of the transactions, the effects of any change in the method of establishing the terms of the transaction from the previous period, stated interest rate, expiration date, terms and manner of settlement per the agreement with the related party, and amounts due to or from related parties. If the entity and one or more other entities are under common ownership or management control and this control affects the operating results or financial position, disclosure includes the nature of the control relationship even if there are no transactions between the entities. Disclosure may also include the aggregate amount of current and deferred tax expense for each statement of earnings presented where the entity is a member of a group that files a consolidated tax return, the amount of any tax related balances due to or from affiliates as of the date of each statement of financial position presented, the principal provisions of the method by which the consolidated amount of current and deferred tax expense is allocated to the members of the group and the nature and effect of any changes in that method. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Article 4
-Section 08
-Paragraph k

Reference 2: http://www.xbrl.org/2003/role/presentationRef
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-Name Regulation S-X (SX)
-Number 210
-Article 3A
-Section 04
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-Name Statement of Financial Accounting Standard (FAS)
-Number 57
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+ Details

Employee Benefit Plans

12 Months Ended

Sep. 30, 2011

Employee Benefit Plans [Abstract]

Employee Benefit Plans

14. EMPLOYEE BENEFIT PLANS

401(k) Plan

In November 1998, we established the Integrated Electrical Services, Inc. 401(k) Retirement Savings Plan (the “401(k) Plan”). All full-time IES employees are eligible to participate on the first day of the month subsequent to completing sixty days of service and attaining age twenty-one. Participants become vested in our matching contributions following three years of service.

On February 13, 2009, we suspended company matching cash contributions to employee's contributions due to the significant impact the economic recession has had on the Company's financial performance. The aggregate contributions by us to the 401(k) Plan were $0, $0 and $769, respectively, for the years ended September 30, 2011, 2010 and 2009.

Management Incentive Plan

On December 10, 2008, the Compensation Committee of the Board of Directors, of IES approved and adopted the 2009 Incentive Compensation Plan including the performance-based criteria by which potential payouts to participants will be determined. The total award under the Incentive Compensation Plan was dependent on the level of achievement against performance goals. As of September 30, 2009, we had recorded a total liability for incentive compensation of approximately $2,235, which was paid in fiscal 2010.

On December 8, 2009, the Compensation Committee of the Board of Directors of IES approved and adopted the 2010 Incentive Compensation Plan including the performance-based criteria by which potential payouts to participants will be determined. The total award under the Incentive Compensation Plan is dependent on the level of achievement against performance goals. None of the performance-based criteria were met in 2010 for the Incentive Compensation Plan and no liability was recorded as of September 30, 2010.

On December 16, 2010, the Compensation Committee of the Board of Directors of IES approved and adopted the 2011 Incentive Compensation Plan including the performance-based criteria by which potential payouts to participants will be determined. The total award under the Incentive Compensation Plan is dependent on the level of achievement against performance goals. None of the performance-based criteria were met in 2011 for the Incentive Compensation Plan and no liability was recorded as of September 30, 2011.

Executive Savings Plan

Under the Executive Deferred Compensation Plan adopted on July 1, 2004 (the “Executive Savings Plan”), certain employees are permitted to defer a portion (up to 75%) of their base salary and/or bonus for a Plan Year. The Compensation Committee of the Board of Directors may, in its sole discretion, credit one or more participants with an employer deferral (contribution) in such amount as the Committee may choose (“Employer Contribution”). The Employer Contribution, if any, may be a fixed dollar amount, a fixed percentage of the participant's compensation, base salary, or bonus, or a “matching” amount with respect to all or part of the participant's elective deferrals for such plan year, and/or any combination of the foregoing as the Committee may choose.

On February 13, 2009, we suspended Company matching cash contributions to employee's contributions due to the significant impact the economic recession has had on the Company's financial performance. The aggregate contributions by us to the Executive Savings Plan were $0 for the September 30, 2011, 2010 and 2009.

Post Retirement Benefit Plans

Certain individuals at one of the Company's locations are entitled to receive fixed annual payments that reach a maximum amount, as specified in the related agreements, for a ten year period following retirement or, in some cases, the attainment of 62 years of age. We recognize the unfunded status of the plan as a non-current liability in our Consolidated Balance Sheet. Benefits vest 50% after ten years of service, which increases by 10% per annum until benefits are fully vested after 15 years of service. We had an unfunded benefit liability of $781 and $576 recorded as of September 30, 2011 and 2010, respectively.

Fair Value Measurements

12 Months Ended

Sep. 30, 2011

Fair Value Measurements [Abstract]

Fair Value Measurements

15. FAIR VALUE MEASUREMENTS

Fair Value Measurement Accounting

This disclosure relates to the activity for assets and liabilities measured at fair value on a recurring basis, including transfers of assets and liabilities between Level 1 and Level 2 of the fair value hierarchy and the separate presentation of purchases, sales, issuances and settlements of assets and liabilities within Level 3 of the fair value hierarchy. In addition, the update requires enhanced disclosure of the valuation techniques and inputs used in the fair value measurements within Level 2 and Level 3.

Fair value is considered the price to sell an asset, or transfer a liability, between market participants on the measurement date. Fair value measurements assume that the asset or liability is (1) exchanged in an orderly manner, (2) the exchange is in the principal market for that asset or liability, and (3) the market participants are independent, knowledgeable, able and willing to transact an exchange. Fair value accounting and reporting establishes a framework for measuring fair value by creating a hierarchy for observable independent market inputs and unobservable market assumptions and expands disclosures about fair value measurements. Considerable judgment is required to interpret the market data used to develop fair value estimates. As such, the estimates presented herein are not necessarily indicative of the amounts that could be realized in a current exchange. The use of different market assumptions and/or estimation methods could have a material effect on the estimated fair value.

Financial assets and liabilities measured at fair value on a recurring basis as of September 30, 2011, are summarized in the following table by the type of inputs applicable to the fair value measurements:

		Total Fair Value		Quoted Prices (Level 1)	Significant Other Observable Inputs (Level 2)	Significant Unobservable (Level 3)
Money market accounts	$	1	$	1	-	-
Executive Savings Plan assets		477		477	-	-
Executive Savings Plan liabilities		(552)		(552)	-	-

Total	$	(74)	$	(74)	-	-

Below is a description of the inputs used to value the assets summarized in the preceding table:

Level 1 — Inputs represent unadjusted quoted prices for identical assets exchanged in active markets.

Level 2 — Inputs include directly or indirectly observable inputs other than Level 1 inputs such as quoted prices for similar assets exchanged in active or inactive markets; quoted prices for identical assets exchanged in inactive markets; and other inputs that are considered in fair value determinations of the assets.

Level 3 — Inputs include unobservable inputs used in the measurement of assets. Management is required to use its own assumptions regarding unobservable inputs because there is little, if any, market activity in the assets or related observable inputs that can be corroborated at the measurement date.

We estimated the fair value of our debt securities, solely consisting of our investment in EPV, within the Level 3 hierarchy based on current available information surrounding the private company in which we invested. The fair value of the investments in debt securities was $0 at September 30, 2011 and $0 at September 30, 2010. In the years ended September 30, 2011, 2010 and 2009, we recognized $0, $150 and $2,850 of impairment to these securities.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

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-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 133
-Paragraph 44A, 44B
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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Reference 4: http://www.xbrl.org/2003/role/presentationRef
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Reference 5: http://www.xbrl.org/2003/role/presentationRef
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+ Details

Commitments And Contingencies

12 Months Ended

Sep. 30, 2011

Commitments And Contingencies [Abstract]

Commitments And Contingencies

16. COMMITMENTS AND CONTINGENCIES

Legal Matters

From time to time we are a party to various claims, lawsuits and other legal proceedings that arise in the ordinary course of business. We maintain various insurance coverages to minimize financial risk associated with these proceedings. None of these proceedings, separately or in the aggregate, are expected to have a material adverse effect on our financial position, results of operations or cash flows. With respect to all such proceedings, we record reserves when it is probable that a liability has been incurred and the amount of loss can be reasonably estimated. We expense routine legal costs related to these proceedings as they are incurred.

The following is a discussion of our significant legal matters:

Ward Transformer Site

One of our subsidiaries has been identified as one of more than 200 potentially responsible parties (PRPs) with respect to the clean-up of an electric transformer resale and reconditioning facility, known as the Ward Transformer Site, located in Raleigh, North Carolina. The facility built, repaired, reconditioned and sold electric transformers from approximately 1964 to 2005. We did not own or operate the facility but a subsidiary that we acquired in July 1999 is believed to have sent transformers to the facility during the 1990's. During the course of its operation, the facility was contaminated by Polychlorinated Biphenyls (PCBs), which also have been found to have migrated off the site.

Four PRPs have commenced clean-up of on-site contaminated soils under an Emergency Removal Action pursuant to a settlement agreement and Administrative Order on Consent entered into between the four PRPs and the U.S. Environmental Protection Agency (EPA) in September 2005. We are not a party to that settlement agreement or Order on Consent. In April 2009, two of these PRPs, Carolina Power and Light Company and Consolidation Coal Company, filed suit against us and most of the other PRPs in the U.S. District Court for the Eastern District of North Carolina (Western Division) to contribute to the cost of the clean-up. In addition to the on-site clean-up, the EPA has selected approximately 50 PRPs to which it sent a Special Notice Letter in late 2008 to organize the clean-up of soils off site and address contamination of groundwater and other miscellaneous off-site issues. We were not a recipient of that letter.

Based on our investigation to date, there is evidence to support our defense that our subsidiary contributed no PCB contamination to the site. In addition, we have tendered a demand for indemnification to the former owner of our subsidiary that may have transacted business with the facility and are exploring the existence and applicability of insurance policies that could mitigate potential exposure. As of September 30, 2011, we have not recorded a reserve for this matter, as we believe the likelihood of our responsibility for damages is not probable and a potential range of exposure is not estimable.

Risk-Management

We retain the risk for workers' compensation, employer's liability, automobile liability, general liability and employee group health claims, resulting from uninsured deductibles per accident or occurrence which are subject to annual aggregate limits. Our general liability program provides coverage for bodily injury and property damage. Losses up to the deductible amounts are accrued based upon our known claims incurred and an estimate of claims incurred but not reported. As a result, many of our claims are effectively self-insured. Many claims against our insurance are in the form of litigation. At September 30, 2011, we had $7,040 accrued for insurance liabilities. We are also subject to construction defect liabilities, primarily within our Residential segment. As of September 30, 2011, we had reserved $405 for these claims.

Some of the underwriters of our casualty insurance program require us to post letters of credit as collateral. This is common in the insurance industry. To date, we have not had a situation where an underwriter has had reasonable cause to effect payment under a letter of credit. At September 30, 2011, $8,182 of our outstanding letters of credit were utilized to collateralize our insurance program.

Surety

Many customers, particularly in connection with new construction, require us to post performance and payment bonds issued by a surety. Those bonds provide a guarantee to the customer that we will perform under the terms of our contract and that we will pay our subcontractors and vendors. If we fail to perform under the terms of our contract or to pay subcontractors and vendors, the customer may demand that the surety make payments or provide services under the bond. We must reimburse the sureties for any expenses or outlays they incur on our behalf. To date, we have not been required to make any reimbursements to our sureties for bond-related costs.

As is common in the surety industry, sureties issue bonds on a project-by-project basis and can decline to issue bonds at any time. We believe that our relationships with our sureties will allow us to provide surety bonds as they are required. However, current market conditions, as well as changes in our sureties' assessment of our operating and financial risk, could cause our sureties to decline to issue bonds for our work. If our sureties decline to issue bonds for our work, our alternatives would include posting other forms of collateral for project performance, such as letters of credit or cash, seeking bonding capacity from other sureties, or engaging in more projects that do not require surety bonds. In addition, if we are awarded a project for which a surety bond is required but we are unable to obtain a surety bond, the result can be a claim for damages by the customer for the costs of replacing us with another contractor.

As of September 30, 2011, the estimated cost to complete our bonded projects was approximately $87,489. We evaluate our bonding requirements on a regular basis, including the terms offered by our sureties. On May 7, 2010 we entered into a new surety agreement. We believe the bonding capacity presently provided by our current sureties is adequate for our current operations and will be adequate for our operations for the foreseeable future. As of September 30, 2011, we had cash totaling $3,985 to collateralize our obligations to certain of our previous sureties (as is included in Other Non-Current Assets in our Consolidated Balance Sheet). Posting letters of credit in favor of our sureties reduces the borrowing availability under our Revolving Credit Facility.

Other Commitments and Contingencies

Some of our customers and vendors require us to post letters of credit as a means of guaranteeing performance under our contracts and ensuring payment by us to subcontractors and vendors. If our customer has reasonable cause to effect payment under a letter of credit, we would be required to reimburse our creditor for the letter of credit. At September 30, 2011, $630 of our outstanding letters of credit were to collateralize our vendors.

Between October 2004 and September 2005, we sold all or substantially all of the assets of certain of our wholly-owned subsidiaries. As these sales were assets sales, rather than stock sales, we may be required to fulfill obligations that were assigned or sold to others, if the purchaser is unwilling or unable to perform the transferred liabilities. If this were to occur, we would seek reimbursement from the purchasers. These potential liabilities will continue to diminish over time. To date, we have not been required to perform on any projects sold under this divestiture program.

From time to time, we may enter into firm purchase commitments for materials such as copper or aluminum wire which we expect to use in the ordinary course of business. These commitments are typically for terms less than one year and require us to buy minimum quantities of materials at specific intervals at a fixed price over the term. As of September 30, 2011, we had no such open purchase commitments.

- Definition

The entire disclosure for commitments and contingencies.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Interpretation (FIN)
-Number 14
-Paragraph 3
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 5
-Paragraph 9, 10, 11, 12
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.25)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 450
-SubTopic 20
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6952336&loc=d3e14435-108349

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 460
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=6398077&loc=d3e12565-110249

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 440
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6394976&loc=d3e25287-109308

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6449706&loc=d3e16207-108621

+ Details

Quarterly Results Of Operations (Unaudited)

12 Months Ended

Sep. 30, 2011

Quarterly Results Of Operations (Unaudited) [Abstract]

Quarterly Results Of Operations (Unaudited)

17. QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)

Quarterly financial information for the years ended September 30, 2011 and 2010, are summarized as follows:

		Fiscal Year Ended September 30, 2011
		First		Second		Third		Fourth
		Quarter		Quarter		Quarter		Quarter
		Restated		Restated		Restated		Restated
Revenues		$	109,811	$	118,326	$	122,714	$	124,512
Gross profit		$	11,058	$	5,327	$	9,046	$	9,955
Restructuring charges		$	-	$	-	$	1,667	$	2,117
Net loss		$	(4,299)	$	(10,131)	$	(11,375)	$	(12,018)
Loss per share from continuing
	operations:
	Basic	$	(0.30)	$	(0.70)	$	(0.78)	$	(0.83)
	Diluted	$	(0.30)	$	(0.70)	$	(0.78)	$	(0.83)
Earnings loss per share:
	Basic	$	(0.30)	$	(0.70)	$	(0.78)	$	(0.83)
	Diluted	$	(0.30)	$	(0.70)	$	(0.78)	$	(0.83)

The sum of the individual quarterly earnings per share amounts may not agree with year-to-date earnings per share as each period's computation is based on the weighted average number of shares outstanding during the period.

In the quarter ended December 31, 2010, we recorded an impairment charge of $3,551 associated with internally developed software we discontinued and we recorded a gain of $6,763 relating to the sale of a non core manufacturing facility.

In the fourth quarter of fiscal 2011, we determined that $2,157 of accelerated amortization expenses attributable to the decision in October, 2010 to replace certain software earlier than its original assigned life should have been recorded in the first, second and third quarterly reporting periods of fiscal 2011. Additionally, during the fourth quarter of fiscal 2011 we determined an error was made in recording a change order for $475 on one job. These adjustments are reflected in the “as reported” column in the tables below and as reflected in Note 17 – Quarterly Results of Operations (Unaudited) in the previously filed form 10K for the year ended September 30, 2011. We have restated the quarterly information in the tables above to correct these errors as well as the vacation accrual and other errors described in Note 18 – Restatement, and have provided restated financial information in the tables below.

		Fiscal Year Ended September 30, 2010
		First		Second		Third		Fourth
		Quarter		Quarter		Quarter		Quarter
		Restated		Restated		Restated		Restated
Revenues		$	119,207	$	107,619	$	121,405	$	115,199
Gross profit		$	20,766	$	13,603	$	15,050	$	8,023
Restructuring charges		$	698	$	65	$	-	$	-
Net income (loss)		$	210	$	(13,205)	$	(6,603)	$	(11,557)
Loss per share from continuing operations
	Basic	$	(0.06)	$	(0.92)	$	(0.45)	$	(0.80)
	Diluted	$	(0.06)	$	(0.92)	$	(0.45)	$	(0.80)
Loss per share:
	Basic	$	(0.06)	$	(0.92)	$	(0.45)	$	(0.80)
	Diluted	$	(0.06)	$	(0.92)	$	(0.45)	$	(0.80)

In the second quarter of fiscal 2010, we had a charge of $3,714 related to a reserve placed on a long-term receivable. We ultimately recovered $2,850 in connection with a settlement in connection with a breach of contract and mechanic's lien foreclosure actions related to this receivable in the second quarter of fiscal 2011.

In conjunction with this Amendment No. 1 to our form 10-K, we made adjustments to correct errors within our quarterly financial statements. For a detailed explanation of these adjustments, please refer to Note 18 – Restatement. The “as reported” column represents amounts reported in Note 17 – Quarterly Results of Operations (Unaudited) of our previously filed form 10-K for the year ended September 30, 2011. The effect of correcting these errors in our consolidated quarterly financial statements was as follows:

				As of December 31, 2009
				As Reported		Adjustments		As Restated
ASSETS
	CURRENT ASSETS:
		Cash and cash equivalents		$	55,795	$	-	$	55,795
		Accounts receivable:
			Trade, Net		92,870		-		92,870
			Retainage		24,224		-		24,224
		Inventories			9,280		-		9,280
		Costs and estimated earnings in excess of billings on uncompleted contracts			12,118		-		12,118
		Prepaid expenses and other current assets			6,582		-		6,582
	Total current assets				200,869		-		200,869
	LONG TERM NOTES RECEIVABLES, net				3,732		-		3,732
	PROPERTY AND EQUIPMENT, net				23,023		50		23,073
	GOODWILL				3,981		607		4,588
	OTHER NON-CURRENT ASSETS, net				14,726		-		14,726
Total assets				$	246,331	$	657	$	246,988
LIABILITIES AND STOCKHOLDERS’ EQUITY
	CURRENT LIABILITIES:
		Current maturities of long-term debt		$	2,227	$	-	$	2,227
		Accounts payable and accrued expenses			60,129		1,015		61,144
		Billings in excess of costs and estimated earnings on uncompleted contracts			16,418		-		16,418
	Total current liabilities				78,774		1,015		79,789
	LONG-TERM DEBT, net of current maturities				26,407		-		26,407
	LONG-TERM DEFERRED TAX LIABILITY				2,291		-		2,291
	OTHER NON-CURRENT LIABILITIES				6,891		-		6,891
Total liabilities					114,363		1,015		115,378
	STOCKHOLDERS’ EQUITY:
		Preferred stock, $0.01 par value			-		-		-
		Common stock, $0.01 par value			154		-		154
		Treasury stock, at cost			(14,301)		-		(14,301)
		Additional paid-in capital			171,156		-		171,156
		Accumulated other comprehensive income			(66)		-		(66)
		Retained deficit			(24,975)		(358)		(25,333)
Total stockholders’ equity					131,968		(358)		131,610
Total liabilities and stockholders’ equity				$	246,331	$	657	$	246,988

				Three months ended December 31, 2009
				As Reported		Adjustments		As Restated

	Revenues			$	120,248	$	(1,041)	$	119,207
	Cost of services				100,327		(1,875)		98,452
		Gross profit			19,921		834		20,755
	Selling, general and administrative expenses				19,267		(181)		19,086
	Gain on sale of assets				(65)		-		(65)
	Restructuring charges				698		-		698
		Gain from operations			21		1,015		1,036
	Interest and other (income) expense:
		Interest expense			1,068		-		1,068
		Interest income			(57)		-		(57)
		Other (income) expense, net			(119)		-		(119)
			Interest and other expense, net		892		-		892
	Loss from operations before income taxes				(871)		1,015		144
	Provision (benefit) for income taxes				(56)		-		(56)
Net (loss) income from continuing operations				$	(815)	$	1,015	$	200
Discontinued operations
	Income (loss) from discontinued operations				11		-		11
	Provision (benefit) for income taxes				1		-		1
Net income (loss) from discontinued operations					10		-		10
	Net (loss) income			$	(805)	$	1,015	$	210

	Basic loss per share:
		Continuing operations		$	(0.06)	$	0.07	$	0.01
		Total		$	(0.06)	$	0.07	$	0.01

	Diluted loss per share:
		Continuing operations		$	(0.06)	$	0.07	$	0.01
	Total			$	(0.06)	$	0.07	$	0.01
	Shares used in the computation of loss per share
		Basic			14,396,017		14,396,017		14,396,017
		Diluted			14,396,017		14,396,017		14,396,017

				As of March 31, 2010
				As Reported		Adjustments		As Restated
ASSETS
	CURRENT ASSETS:
		Cash and cash equivalents		$	54,182	$	-	$	54,182
		Accounts receivable:
			Trade, Net		86,631		-		86,631
			Retainage		17,416		-		17,416
		Inventories			9,456		-		9,456
		Costs and estimated earnings in excess of billings on uncompleted contracts			12,885		-		12,885
		Prepaid expenses and other current assets			6,030		-		6,030
	Total current assets				186,600		-		186,600
	PROPERTY AND EQUIPMENT, net				21,967		50		22,017
	GOODWILL				3,981		607		4,588
	OTHER NON-CURRENT ASSETS, net				14,056		-		14,056
Total assets				$	226,604	$	657	$	227,261
LIABILITIES AND STOCKHOLDERS’ EQUITY
	CURRENT LIABILITIES:
		Current maturities of long-term debt		$	1,997	$	-	$	1,997
		Accounts payable and accrued expenses			56,657		991		57,648
		Billings in excess of costs and estimated earnings on uncompleted contracts			13,601		-		13,601
	Total current liabilities				72,255		991		73,246
	LONG-TERM DEBT, net of current maturities				25,985		-		25,985
	LONG-TERM DEFERRED TAX LIABILITY				2,291		-		2,291
	OTHER NON-CURRENT LIABILITIES				6,706		-		6,706
Total liabilities					107,237		991		108,228
	STOCKHOLDERS’ EQUITY:
		Preferred stock, $0.01 par value			-		-		-
		Common stock, $0.01 par value			154		-		154
		Treasury stock, at cost			(14,226)		-		(14,226)
		Additional paid-in capital			171,727		-		171,727
		Accumulated other comprehensive income			(81)		-		(81)
		Retained deficit			(38,207)		(334)		(38,541)
Total stockholders’ equity					119,367		(334)		119,033
Total liabilities and stockholders’ equity				$	226,604	$	657	$	227,261

				Three months ended March 31, 2010						Six months ended March 31, 2010
				As Reported		Adjustments		As Restated		As Reported		Adjustments		As Restated

	Revenues			$	107,619	$	-	$	107,619	$	227,867	$	(1,041)	$	226,826
	Cost of services				94,031		(15)		94,016		194,358		(1,890)		192,468
		Gross profit			13,588		15		13,603		33,509		849		34,358
	Selling, general and administrative expenses				25,709		(10)		25,699		44,976		(191)		44,785
	Gain on sale of assets				13		-		13		(52)		-		(52)
	Restructuring charges				65		-		65		763		-		763
		Loss from operations			(12,199)		25		(12,174)		(12,178)		1,040		(11,138)
	Interest and other (income) expense:
		Interest expense			1,017		-		1,017		2,085		-		2,085
		Interest income			(59)		-		(59)		(116)		-		(116)
		Other (income) expense, net			(107)		-		(107)		(226)		-		(226)
			Interest and other expense, net		851		-		851		1,743		-		1,743
	Loss from operations before income taxes				(13,050)		25		(13,025)		(13,921)		1,040		(12,881)
	Provision (benefit) for income taxes				180		-		180		124		-		124
Net loss from continuing operations				$	(13,230)	$	25	$	(13,205)	$	(14,045)	$	1,040	$	(13,005)
Discontinued operations
	Income (loss) from discontinued operations				-		-		-		11		-		11
	Provision (benefit) for income taxes				-		-		-		1		-		1
Net income (loss) from discontinued operations					-		-		-		10		-		10
	Net loss			$	(13,230)	$	25	$	(13,205)	$	(14,035)	$	1,040	$	(12,995)

	Basic loss per share:
		Continuing operations		$	(0.92)	$	-	$	(0.92)	$	(0.98)	$	0.07	$	(0.90)
	Total			$	(0.92)	$	-	$	(0.92)	$	(0.98)	$	0.07	$	(0.90)

	Diluted loss per share:
		Continuing operations		$	(0.92)	$	-	$	(0.92)	$	(0.98)	$	0.07	$	(0.91)
	Total			$	(0.92)	$	0.00	$	(0.92)	$	(0.98)	$	0.07	$	(0.90)
	Shares used in the computation of loss per share
		Basic			14,390,580		14,390,580		14,390,580		14,393,328		14,393,328		14,393,328
		Diluted			14,390,580		14,390,580		14,390,580		14,393,328		14,393,328		14,393,328

				As of June 30, 2010
				As Reported		Adjustments		As Restated
ASSETS
	CURRENT ASSETS:
		Cash and cash equivalents		$	30,725	$	-	$	30,725
		Accounts receivable:
			Trade, Net		85,963		-		85,963
			Retainage		17,608		-		17,608
		Inventories			9,831		-		9,831
		Costs and estimated earnings in excess of billings on uncompleted contracts			12,588		-		12,588
		Prepaid expenses and other current assets			5,903		-		5,903
	Total current assets				162,618		-		162,618
	LONG TERM NOTES RECEIVABLES, net				312		-		312
	PROPERTY AND EQUIPMENT, net				20,808		50		20,858
	GOODWILL				3,981		607		4,588
	OTHER NON-CURRENT ASSETS, net				13,507		-		13,507
Total assets				$	201,226	$	657	$	201,883
LIABILITIES AND STOCKHOLDERS’ EQUITY
	CURRENT LIABILITIES:
		Current maturities of long-term debt		$	1,266	$	-	$	1,266
		Accounts payable and accrued expenses			56,410		1,036		57,446
		Billings in excess of costs and estimated earnings on uncompleted contracts			11,402		-		11,402
	Total current liabilities				69,078		1,036		70,114
	LONG-TERM DEBT, net of current maturities				10,632		-		10,632
	LONG-TERM DEFERRED TAX LIABILITY				2,290		-		2,290
	OTHER NON-CURRENT LIABILITIES				6,385		-		6,385
Total liabilities					88,385		1,036		89,421
	STOCKHOLDERS’ EQUITY:
		Preferred stock, $0.01 par value			-		-		-
		Common stock, $0.01 par value			154		-		154
		Treasury stock, at cost			(14,411)		-		(14,411)
		Additional paid-in capital			171,944		-		171,944
		Accumulated other comprehensive income			(82)		-		(82)
		Retained deficit			(44,764)		(379)		(45,143)
Total stockholders’ equity					112,841		(379)		112,462
Total liabilities and stockholders’ equity				$	201,226	$	657	$	201,883

				Three months ended June 30, 2010						Nine months ended June 30, 2010
				As Reported		Adjustments		As Restated		As Reported		Adjustments		As Restated

	Revenues			$	121,405	$	-	$	121,405	$	349,272	$	(1,041)	$	348,231
	Cost of services				106,328		27		106,355		300,686		(1,863)		298,823
		Gross profit			15,077		(27)		15,050		48,586		822		49,408
	Selling, general and administrative expenses				21,098		18		21,116		66,074		(173)		65,901
	Gain on sale of assets				(113)		-		(113)		(165)		-		(165)
	Restructuring charges				-		-		-		763		-		763
		Loss from operations			(5,908)		(45)		(5,953)		(18,086)		995		(17,091)
	Interest and other (income) expense:
		Interest expense			784		-		784		2,869		-		2,869
		Interest income			(92)		-		(92)		(208)		-		(208)
		Other (income) expense, net			55		-		55		(171)		-		(171)
			Interest and other expense, net		747		-		747		2,490		-		2,490
	Loss from operations before income taxes				(6,655)		(45)		(6,700)		(20,576)		995		(19,581)
	Provision (benefit) for income taxes				(98)		-		(98)		26		-		26
Net loss from continuing operations				$	(6,557)	$	(45)	$	(6,602)	$	(20,602)	$	995	$	(19,607)
Discontinued operations
	Income (loss) from discontinued operations				-		-		-		11		-		11
	Provision (benefit) for income taxes				-		-		-		1		-		1
Net income (loss) from discontinued operations					-		-		-		10		-		10
	Net loss			$	(6,557)	$	(45)	$	(6,602)	$	(20,592)	$	995	$	(19,597)

	Basic loss per share:
		Continuing operations		$	(0.45)	$	-	$	(0.46)	$	(1.43)	$	0.07	$	(1.36)
	Total			$	(0.45)	$	-	$	(0.46)	$	(1.43)	$	0.07	$	(1.36)

	Diluted loss per share:
		Continuing operations		$	(0.45)	$	-	$	(0.46)	$	(1.43)	$	0.07	$	(1.36)
	Total			$	(0.45)	$	(0.00)	$	(0.46)	$	(1.43)	$	0.07	$	(1.36)
	Shares used in the computation of loss per share
		Basic		14,425,119		14,425,119		14,425,119		14,403,925		14,403,925		14,403,925
		Diluted		14,425,119		14,425,119		14,425,119		14,403,925		14,403,925		14,403,925

				As of September 30, 2010
				As Reported		Adjustments		As Restated
ASSETS
	CURRENT ASSETS:
		Cash and cash equivalents		$	32,924	$	-	$	32,924
		Accounts receivable:
			Trade, Net		88,252		-		88,252
			Retainage		17,083		-		17,083
		Inventories			12,682		115		12,797
		Costs and estimated earnings in excess of billings on uncompleted contracts			12,566		1,983		14,549
		Prepaid expenses and other current assets			5,449		-		5,449
	Total current assets				168,956		2,098		171,054
	LONG TERM NOTES RECEIVABLES, net				440		-		440
	PROPERTY AND EQUIPMENT, net				19,846		50		19,896
	GOODWILL				3,981		607		4,588
	OTHER NON-CURRENT ASSETS, net				11,882		-		11,882
Total assets				$	205,105	$	2,755	$	207,860
LIABILITIES AND STOCKHOLDERS’ EQUITY
	CURRENT LIABILITIES:
		Current maturities of long-term debt		$	808	$	-	$	808
		Accounts payable and accrued expenses			67,799		5,000		72,799
		Billings in excess of costs and estimated earnings on uncompleted contracts			17,109		(1,865)		15,244
	Total current liabilities				85,716		3,135		88,851
	LONG-TERM DEBT, net of current maturities				10,448		-		10,448
	LONG-TERM DEFERRED TAX LIABILITY				1,046		-		1,046
	OTHER NON-CURRENT LIABILITIES				6,314		-		6,314
Total liabilities					103,524		3,135		106,659
	STOCKHOLDERS’ EQUITY:
		Preferred stock, $0.01 par value			-		-		-
		Common stock, $0.01 par value			154		-		154
		Treasury stock, at cost			(13,677)		-		(13,677)
		Additional paid-in capital			171,510		-		171,510
		Accumulated other comprehensive income			(88)		-		(88)
		Retained deficit			(56,318)		(380)		(56,698)
Total stockholders’ equity					101,581		(380)		101,201
Total liabilities and stockholders’ equity				$	205,105	$	2,755	$	207,860

				Three months ended September 30, 2010						Twelve months ended September 30, 2010
				As Reported		Adjustments		As Restated		As Reported		Adjustments		As Restated

	Revenues			$	111,361	$	3,838	$	115,199	$	460,633	$	2,797	$	463,430
	Cost of services				103,465		3,700		107,165		404,140		1,848		405,988
		Gross profit			7,896		138		8,034		56,493		949		57,442
	Selling, general and administrative expenses				18,846		129		18,975		84,920		(44)		84,877
	Gain on sale of assets				(9)		-		(9)		(174)		-		(174)
	Restructuring charges				-		-		-		763		-		763
		Loss from operations			(10,941)		9		(10,932)		(29,016)		992		(28,024)
	Interest and other (income) expense:
		Interest expense			644		-		644		3,513		-		3,513
		Interest income			(34)		-		(34)		(242)		-		(242)
		Other (income) expense, net			62		-		62		(109)		-		(109)
			Interest and other expense, net		672		-		672		3,162		-		3,162
	Loss from operations before income taxes				(11,613)		9		(11,604)		(32,178)		992		(31,186)
	Provision (benefit) for income taxes				(57)		-		(57)		(31)		-		(31)
Net loss from continuing operations				$	(11,556)	$	9	$	(11,547)	$	(32,147)	$	992	$	(31,155)
Discontinued operations
	Income (loss) from discontinued operations				(11)		-		(11)		-		-		-
	Provision (benefit) for income taxes				(1)		-		(1)		-		-		-
Net income (loss) from discontinued operations					(10)		-		(10)		-		-		-
	Net loss			$	(11,566)	$	9	$	(11,557)	$	(32,147)	$	992	$	(31,155)

	Basic loss per share:
		Continuing operations		$	(0.80)	$	-	$	(0.80)	$	(2.23)	$	0.07	$	(2.16)
	Total			$	(0.80)	$	-	$	(0.80)	$	(2.23)	$	0.07	$	(2.16)

	Diluted loss per share:
		Continuing operations		$	(0.80)	$	-	$	(0.80)	$	(2.23)	$	0.07	$	(2.16)
	Total			$	(0.80)	$	0.00	$	(0.80)	$	(2.23)	$	0.07	$	(2.16)
	Shares used in the computation of loss per share
		Basic		14,425,818		14,425,818		14,425,818		14,409,490		14,409,490		14,409,490
		Diluted		14,425,818		14,425,818		14,425,818		14,409,490		14,409,490		14,409,490

				As of December 31, 2010
				As Reported		Adjustments		As Restated
ASSETS
	CURRENT ASSETS:
		Cash and cash equivalents		$	26,946	$	-	$	26,946
		Accounts receivable:
			Trade, Net		82,630		-		82,630
			Retainage		17,281		-		17,281
		Inventories			13,542		-		13,542
		Costs and estimated earnings in excess of billings on uncompleted contracts			13,545		-		13,545
		Prepaid expenses and other current assets			4,976		-		4,976
	Total current assets				158,920		-		158,920
	LONG TERM NOTES RECEIVABLES, net				422		-		422
	PROPERTY AND EQUIPMENT, net				11,700		-		11,700
	GOODWILL				3,981		607		4,588
	OTHER NON-CURRENT ASSETS, net				11,561		-		11,561
Total assets				$	186,584	$	607	$	187,191
LIABILITIES AND STOCKHOLDERS’ EQUITY
	CURRENT LIABILITIES:
		Current maturities of long-term debt		$	609	$	-	$	609
		Accounts payable and accrued expenses			55,841		1,013		56,854
		Billings in excess of costs and estimated earnings on uncompleted contracts			14,992		-		14,992
	Total current liabilities				71,442		1,013		72,455
	LONG-TERM DEBT, net of current maturities				10,405		-		10,405
	LONG-TERM DEFERRED TAX LIABILITY				1,045		-		1,045
	OTHER NON-CURRENT LIABILITIES				6,190		-		6,190
Total liabilities					89,082		1,013		90,095
	STOCKHOLDERS’ EQUITY:
		Preferred stock, $0.01 par value			-		-		-
		Common stock, $0.01 par value			154		-		154
		Treasury stock, at cost			(9,770)		-		(9,770)
		Additional paid-in capital			167,710		-		167,710
		Retained deficit			(60,592)		(406)		(60,998)
Total stockholders’ equity					97,502		(406)		97,096
Total liabilities and stockholders’ equity				$	186,584	$	607	$	187,191

			Three months ended December 31, 2010
			As Reported		Adjustments		As Restated

Revenues			$	113,649	$	(3,838)	$	109,811
Cost of services				102,477		(3,724)		98,753
	Gross profit			11,172		(114)		11,058
Selling, general and administrative expenses				18,740		(88)		18,652
Gain on sale of assets				(6,729)		-		(6,729)
Asset Impairment				3,551		-		3,551
	Loss from operations			(4,390)		(26)		(4,416)
Interest and other (income) expense:
	Interest expense			599		-		599
	Interest income			(25)		-		(25)
	Other (income) expense, net			(15)		-		(15)
		Interest and other expense, net		559		-		559
Loss from operations before income taxes				(4,949)		(26)		(4,975)
Provision (benefit) for income taxes				(676)		-		(676)
Net loss			$	(4,273)	$	(26)	$	(4,299)

Basic loss per share:
	Continuing operations		$	(0.30)	$	-	$	(0.30)
	Total		$	(0.30)	$	-	$	(0.30)

Diluted loss per share:
	Continuing operations		$	(0.30)	$	-	$	(0.30)
Total			$	(0.30)	$	(0.00)	$	(0.30)
Shares used in the computation of loss per share
	Basic			14,447,357		14,447,357		14,447,357
	Diluted			14,447,357		14,447,357		14,447,357

				As of March 31, 2011
				As Reported		Adjustments		As Restated
ASSETS
	CURRENT ASSETS:
		Cash and cash equivalents		$	36,707	$	-	$	36,707
		Accounts receivable:
			Trade, Net		82,915		-		82,915
			Retainage		18,397		-		18,397
		Inventories			9,454		-		9,454
		Costs and estimated earnings in excess of billings on uncompleted contracts			15,115		-		15,115
		Prepaid expenses and other current assets			5,031		-		5,031
	Total current assets				167,619		-		167,619
	LONG TERM NOTES RECEIVABLES, net				315		-		315
	PROPERTY AND EQUIPMENT, net				10,204		-		10,204
	GOODWILL				3,981		607		4,588
	OTHER NON-CURRENT ASSETS, net				8,942		-		8,942
Total assets				$	191,061	$	607	$	191,668
LIABILITIES AND STOCKHOLDERS’ EQUITY
	CURRENT LIABILITIES:
		Current maturities of long-term debt		$	447	$	-	$	447
		Accounts payable and accrued expenses			71,075		1,063		72,138
		Billings in excess of costs and estimated earnings on uncompleted contracts			14,212		-		14,212
	Total current liabilities				85,734		1,063		86,797
	LONG-TERM DEBT, net of current maturities				10,418		-		10,418
	LONG-TERM DEFERRED TAX LIABILITY				1,046		-		1,046
	OTHER NON-CURRENT LIABILITIES				6,177		-		6,177
Total liabilities					103,375		1,063		104,438
	STOCKHOLDERS’ EQUITY:
		Preferred stock, $0.01 par value			-		-		-
		Common stock, $0.01 par value			154		-		154
		Treasury stock, at cost			(6,861)		-		(6,861)
		Additional paid-in capital			165,065		-		165,065
		Retained deficit			(70,672)		(456)		(71,128)
Total stockholders’ equity					87,686		(456)		87,230
Total liabilities and stockholders’ equity				$	191,061	$	607	$	191,668

			Three months ended March 31, 2011						Six months ended March 31, 2011
			As Reported		Adjustments		As Restated		As Reported		Adjustments		As Restated

Revenues			$	118,326	$	-	$	118,326	$	231,975	$	(3,838)	$	228,137
Cost of services				112,969		30		112,999		215,446		(3,694)		211,752
	Gross profit			5,357		(30)		5,327		16,529		(144)		16,385
Selling, general and administrative expenses				14,052		20		14,072		32,792		(68)		32,724
Gain on sale of assets				(87)		-		(87)		(6,816)		-		(6,816)
Asset Impairment				-		-		-		3,551		-		3,551
	Loss from operations			(8,608)		(50)		(8,658)		(12,998)		(76)		(13,074)
Interest and other (income) expense:
	Interest expense			576		-		576		1,175		-		1,175
	Interest income			(24)		-		(24)		(49)		-		(49)
	Other (income) expense, net			(8)		-		(8)		(23)		-		(23)
		Interest and other expense, net		544		-		544		1,103		-		1,103
Loss from operations before income taxes				(9,152)		(50)		(9,202)		(14,101)		(76)		(14,177)
Provision (benefit) for income taxes				929		-		929		253		-		253
Net loss			$	(10,081)	$	(50)	$	(10,131)	$	(14,354)	$	(76)	$	(14,430)

Basic loss per share:
	Continuing operations		$	(0.70)	$	-	$	(0.70)	$	(0.99)	$	(0.01)	$	(1.00)
Total			$	(0.70)	$	-	$	(0.70)	$	(0.99)	$	(0.01)	$	(1.00)

Diluted loss per share:
	Continuing operations		$	(0.70)	$	-	$	(0.70)	$	(0.99)	$	(0.01)	$	(1.00)
Total			$	(0.70)	$	(0.00)	$	(0.70)	$	(0.99)	$	(0.01)	$	(1.00)
Shares used in the computation of loss per share
	Basic			14,481,005		14,481,005		14,481,005		14,463,996		14,463,996		14,463,996
	Diluted			14,481,005		14,481,005		14,481,005		14,463,996		14,463,996		14,463,996

				As of June 30, 2011
				As Reported		Adjustments		As Restated
ASSETS
	CURRENT ASSETS:
		Cash and cash equivalents		$	23,039	$	-	$	23,039
		Accounts receivable:
			Trade, Net		85,749		-		85,749
			Retainage		19,845		-		19,845
		Inventories			6,203		-		6,203
		Costs and estimated earnings in excess of billings on uncompleted contracts			11,563		-		11,563
		Prepaid expenses and other current assets			4,600		-		4,600
	Total current assets				150,999		-		150,999
	LONG TERM NOTES RECEIVABLES, net				235		-		235
	PROPERTY AND EQUIPMENT, net				9,940		-		9,940
	GOODWILL				3,981		607		4,588
	OTHER NON-CURRENT ASSETS, net				8,895		-		8,895
Total assets				$	174,050	$	607	$	174,657
LIABILITIES AND STOCKHOLDERS’ EQUITY
	CURRENT LIABILITIES:
		Current maturities of long-term debt		$	265	$	-	$	265
		Accounts payable and accrued expenses			67,142		1,091		68,233
		Billings in excess of costs and estimated earnings on uncompleted contracts			12,644		-		12,644
	Total current liabilities				80,051		1,091		81,142
	LONG-TERM DEBT, net of current maturities				10,346		-		10,346
	LONG-TERM DEFERRED TAX LIABILITY				1,046		-		1,046
	OTHER NON-CURRENT LIABILITIES				6,022		-		6,022
Total liabilities					97,465		1,091		98,556
	STOCKHOLDERS’ EQUITY:
		Preferred stock, $0.01 par value			-		-		-
		Common stock, $0.01 par value			154		-		154
		Treasury stock, at cost			(7,081)		-		(7,081)
		Additional paid-in capital			165,531		-		165,531
		Retained deficit			(82,019)		(484)		(82,503)
Total stockholders’ equity					76,585		(484)		76,101
Total liabilities and stockholders’ equity				$	174,050	$	607	$	174,657

			Three months ended June 30, 2011						Nine months ended June 30, 2011
			As Reported		Adjustments		As Restated		As Reported		Adjustments		As Restated

Revenues			$	122,714	$	-	$	122,714	$	354,689	$	(3,838)	$	350,851
Cost of services				113,651		17		113,668		329,097		(3,678)		325,420
	Gross profit			9,063		(17)		9,046		25,592		(161)		25,432
Selling, general and administrative expenses				18,131		11		18,142		50,923		(57)		50,866
Gain on sale of assets				136		-		136		(6,680)		-		(6,680)
Asset Impairment				-		-		-		3,551		-		3,551
Restructuring charges				1,667		-		1,667		1,667		-		1,667
	Loss from operations			(10,871)		(28)		(10,899)		(23,869)		(104)		(23,973)
Interest and other (income) expense:
	Interest expense			571		-		571		1,746		-		1,746
	Interest income			(13)		-		(13)		(62)		-		(62)
	Other (income) expense, net			21		-		21		(2)		-		(2)
		Interest and other expense, net		579		-		579		1,682		-		1,682
Loss from operations before income taxes				(11,450)		(28)		(11,478)		(25,551)		(104)		(25,655)
Provision (benefit) for income taxes				(103)		-		(103)		150		-		150
Net loss			$	(11,347)	$	(28)	$	(11,375)	$	(25,701)	$	(104)	$	(25,805)

Basic loss per share:
	Continuing operations		$	(0.78)	$	-	$	(0.78)	$	(1.78)	$	(0.01)	$	(1.78)
Total			$	(0.78)	$	-	$	(0.78)	$	(1.78)	$	(0.01)	$	(1.78)

Diluted loss per share:
	Continuing operations		$	(0.78)	$	-	$	(0.78)	$	(1.78)	$	(0.01)	$	(1.78)
Total			$	(0.78)	$	(0.00)	$	(0.78)	$	(1.78)	$	(0.01)	$	(1.78)
Shares used in the computation of loss per share
	Basic		14,491,966		14,491,966		14,491,966		14,472,441		14,472,441		14,472,441
	Diluted		14,491,966		14,491,966		14,491,966		14,472,441		14,472,441		14,472,441

				As of September 30, 2011
				As Reported		Adjustments		As Restated
ASSETS
	CURRENT ASSETS:
		Cash and cash equivalents		$	35,577	$	-	$	35,577
		Accounts receivable:
			Trade, Net		85,728		-		85,728
			Retainage		17,944		-		17,944
		Inventories			8,443		-		8,443
		Costs and estimated earnings in excess of billings on uncompleted contracts			10,592		(629)		9,963
		Prepaid expenses and other current assets			2,840		-		2,840
	Total current assets				161,124		(629)		160,495
	LONG TERM NOTES RECEIVABLES, net				200		-		200
	PROPERTY AND EQUIPMENT, net				8,016		-		8,016
	GOODWILL				3,839		607		4,446
	OTHER NON-CURRENT ASSETS, net				7,087		-		7,087
Total assets				$	180,266	$	(22)	$	180,244
LIABILITIES AND STOCKHOLDERS’ EQUITY
	CURRENT LIABILITIES:
		Current maturities of long-term debt		$	209	$	-	$	209
		Accounts payable and accrued expenses			79,858		(878)		78,980
		Billings in excess of costs and estimated earnings on uncompleted contracts			18,220		1,365		19,585
	Total current liabilities				98,287		487		98,775
	LONG-TERM DEBT, net of current maturities				10,289		-		10,289
	LONG-TERM DEFERRED TAX LIABILITY				284		-		284
	OTHER NON-CURRENT LIABILITIES				6,596		-		6,596
Total liabilities					115,456		487		115,944
	STOCKHOLDERS’ EQUITY:
		Preferred stock, $0.01 par value			-		-		-
		Common stock, $0.01 par value			154		-		154
		Treasury stock, at cost			(5,595)		-		(5,595)
		Additional paid-in capital			164,262		-		164,262
		Retained deficit			(94,011)		(509)		(94,520)
Total stockholders’ equity					64,810		(509)		64,301
Total liabilities and stockholders’ equity				$	180,266	$	(23)	$	180,244

			Three months ended September 30, 2011						Twelve months ended September 30, 2011
			As Reported		Adjustments		As Restated		As Reported		Adjustments		As Restated

Revenues			$	126,918	$	(2,406)	$	124,512	$	481,607	$	(6,244)	$	475,363
Cost of services				116,488		(1,930)		114,558		445,585		(5,607)		439,978
	Gross profit			10,430		(476)		9,954		36,022		(637)		35,385
Selling, general and administrative expenses				18,442		(450)		17,992		69,365		(507)		68,858
Gain on sale of assets				97		-		97		(6,583)		-		(6,583)
Asset Impairment				1,253		-		1,253		4,804		-		4,804
Restructuring charges				2,117		-		2,117		3,784		-		3,784
	Loss from operations			(11,479)		(26)		(11,505)		(35,348)		(130)		(35,478)
Interest and other (income) expense:
	Interest expense			531		-		531		2,277		-		2,277
	Interest income			(6)		-		(6)		(68)		-		(68)
	Other (income) expense, net			(8)		-		(8)		(10)		-		(10)
		Interest and other expense, net		517		-		517		2,199		-		2,199
Loss from operations before income taxes				(11,996)		(26)		(12,022)		(37,547)		(130)		(37,677)
Provision (benefit) for income taxes				(4)		-		(4)		146		-		146
Net loss			$	(11,992)	$	(26)	$	(12,018)	$	(37,693)	$	(130)	$	(37,823)

Basic loss per share:
	Continuing operations		$	(0.82)	$	-	$	(0.83)	$	(2.60)	$	(0.01)	$	(2.61)
Total			$	(0.82)	$	-	$	(0.83)	$	(2.60)	$	(0.01)	$	(2.61)

Diluted loss per share:
	Continuing operations		$	(0.82)	$	-	$	(0.83)	$	(2.60)	$	(0.01)	$	(2.61)
Total			$	(0.82)	$	(0.00)	$	(0.83)	$	(2.60)	$	(0.01)	$	(2.61)
Shares used in the computation of loss per share
	Basic		14,558,314		14,558,314		14,558,314		14,493,747		14,493,747		14,493,747
	Diluted		14,558,314		14,558,314		14,558,314		14,493,747		14,493,747		14,493,747

- Definition

The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished.

+ References + Details

Restatement of Financial Statement

12 Months Ended

Sep. 30, 2011

Restatement Of Financial Statement [Abstract]

Restatement of Financial Statement

18. RESTATEMENT

The September 30, 2011 consolidated financial statements included in our Original Form 10-K filed on December 20, 2011, contained errors primarily related to the understatement of our vacation accrual that should have been recorded at September 30, 2008 and in each subsequent annual and interim period to September 30, 2011. Additionally, for all restated periods we recorded other immaterial adjustments. These adjustments include, but are not limited to, recording billing, payroll and other accruals, in the proper accounting period. In many cases, as a result of recording these adjustments, additional revenues are also recognized with an immaterial effect on gross margin, due to the use of the percentage of completion method of accounting and estimated margins on contracts in progress. As such, these adjustments impact multiple line items, including revenue, cost of revenue, selling general & administrative expenses, and their related balance sheet accounts. Accordingly, the September 30, 2011 consolidated financial statements have been restated to properly record these transactions and other immaterial adjustments. This restatement amends the following notes: 5, 6, 7, 10, 11 and 17.

The vacation accrual adjustment decreased beginning Retained Earnings at October 1, 2008 in the amount of $1,733 thousand, and increased (decreased) net loss by $(475) thousand, $(215) thousand, and $35 thousand for the years ended September 30, 2009, 2010 and 2011, respectively. The additional immaterial adjustments increased beginning Retained Earnings at October 1, 2008 in the amount of $607 thousand, and increased (decreased) net loss by $722 thousand, $(777) thousand, and $95 thousand for the years ended September 30, 2009, 2010 and 2011, respectively. The following schedules represent the effect of correcting these errors in our consolidated financial statements:

				Year ended September 30, 2009
				As Reported		Adjustments		As Restated

	Revenues			$	665,997	$	1,040	$	667,037
	Cost of services				556,469		1,444		557,913
		Gross profit			109,528		(404)		109,124
	Selling, general and administrative expenses				108,328		(157)		108,171
	Gain on sale of assets				(465)		-		(465)
	Restructuring charges				7,407		-		7,407
		Loss from operations			(5,742)		(247)		(5,989)
	Interest and other (income) expense:
		Interest expense			4,526		-		4,526
		Interest income			(432)		-		(432)
		Other (income) expense, net			1,608		-		1,608
			Interest and other expense, net		5,702		-		5,702
	Loss from operations before income taxes				(11,444)		(247)		(11,691)
	Provision (benefit) for income taxes				495		-		495
Net loss from continuing operations				$	(11,939)	$	(247)	$	(12,186)
Discontinued operations
	Income (loss) from discontinued operations				187		-		187
	Provision (benefit) for income taxes				68		-		68
Net income (loss) from discontinued operations					119		-		119
	Net loss			$	(11,820)	$	(247)	$	(12,067)

	Basic loss per share:
		Continuing operations		$	(0.83)	$	(0.02)	$	(0.85)
		Discontinued operations		$	0.01	$	-	$	0.01
		Total		$	(0.82)	$	(0.02)	$	(0.84)

	Diluted loss per share:
		Continuing operations		$	(0.83)	$	(0.02)	$	(0.85)
		Discontinued operations		$	0.01	$	-	$	0.01
	Total			$	(0.82)	$	(0.02)	$	(0.84)
	Shares used in the computation of loss per share
		Basic			14,331,614		14,331,614		14,331,614
		Diluted			14,331,614		14,331,614		14,331,614

			Year Ended September 30, 2009
			As Reported		Adjustments		As Restated
CASH FLOWS FROM OPERATING ACTIVITIES:
	Net loss		$	(11,820)	$	(247)	$	(12,067)
	Adjustments to reconcile net loss to net cash provided by operating activities
		Net income (loss) from discontinued operations		(119)		-		(119)
		Bad debt expense		2,539		-		2,539
		Deferred financing cost amortization		263		-		263
		Depreciation and amortization		8,258		67		8,325
		Loss (gain) on sale of assets		(465)		-		(465)
		Non-cash compensation expense		2,520		-		2,520
		Impairment of investment		2,850		-		2,850
		Paid in kind interest		678		-		678
		Equity in losses of investment		13		-		13
		Goodwill adjustment - utilization of deferred tax assets		911		(607)		304
		Deferred income tax		(1,924)		-		(1,924)
	Changes in operation assets and liabilities
		Accounts receivable		29,567		281		29,848
		Inventories		2,701		-		2,701
		Costs and estimated earnings in excess of billings		1,189		(1,687)		(498)
		Prepaid expenses and other current assets		1,096		-		1,096
		Other non-current assets		6,598		(281)		6,317
		Accounts payable and accrued expenses		(23,547)		2,396		(21,151)
		Billings in excess of costs and estimated earnings		(12,546)		395		(12,151)
		Other non-current liabilities		910		(317)		593
Net cash (used in) provided by continuing operations				9,672		0		9,672
Net cash provided by discontinued operations				1,635		-		1,635
Net cash (used in) provided by operating activities				11,307		0		11,307
CASH FLOWS FROM INVESTING ACTIVITIES:
	Purchases of property and equipment			(4,740)		-		(4,740)
	Proceeds from sales of property and equipment			935		-		935
	Investment in unconsolidated affiliates			(2,150)		-		(2,150)
Net cash (used in) provided by continuing operations				(5,955)		-		(5,955)
Net cash provided by discontinued operations				65		-		65
Net cash (used in) provided by investing activities				(5,890)		-		(5,890)
CASH FLOWS FROM FINANCING ACTIVITIES:
	Borrowings of debt			792		-		792
	Repayments of debt			(2,427)		-		(2,427)
	Purchase of treasury stock			(4,317)		-		(4,317)
Net used in financing activities				(5,952)		-		(5,952)
NET INCREASE (DECREASE) IN CASH EQUIVALENTS				(535)		0		(535)
CASH AND CASH EQUIVALENTS, beginning of period				64,709		-		64,709
CASH AND CASH EQUIVALENTS, end of period			$	64,174	$	0	$	64,174

				As of September 30, 2010
				As Reported		Adjustments		As Restated
ASSETS
	CURRENT ASSETS:
		Cash and cash equivalents		$	32,924	$	-	$	32,924
		Accounts receivable:
			Trade, Net		88,252		-		88,252
			Retainage		17,083		-		17,083
		Inventories			12,682		115		12,797
		Costs and estimated earnings in excess of billings on uncompleted contracts			12,566		1,983		14,549
		Prepaid expenses and other current assets			5,449		-		5,449
	Total current assets				168,956		2,098		171,054
	LONG TERM NOTES RECEIVABLES, net				440		-		440
	PROPERTY AND EQUIPMENT, net				19,846		50		19,896
	GOODWILL				3,981		607		4,588
	OTHER NON-CURRENT ASSETS, net				11,882		-		11,882
Total assets				$	205,105	$	2,755	$	207,860
LIABILITIES AND STOCKHOLDERS’ EQUITY
	CURRENT LIABILITIES:
		Current maturities of long-term debt		$	808	$	-	$	808
		Accounts payable and accrued expenses			67,799		5,000		72,799
		Billings in excess of costs and estimated earnings on uncompleted contracts			17,109		(1,865)		15,244
	Total current liabilities				85,716		3,135		88,851
	LONG-TERM DEBT, net of current maturities				10,448		-		10,448
	LONG-TERM DEFERRED TAX LIABILITY				1,046		-		1,046
	OTHER NON-CURRENT LIABILITIES				6,314		-		6,314
Total liabilities					103,524		3,135		106,659
	STOCKHOLDERS’ EQUITY:
		Preferred stock, $0.01 par value			-		-		-
		Common stock, $0.01 par value			154		-		154
		Treasury stock, at cost			(13,677)		-		(13,677)
		Additional paid-in capital			171,510		-		171,510
		Accumulated other comprehensive income			(88)		-		(88)
		Retained deficit			(56,318)		(380)		(56,698)
Total stockholders’ equity					101,581		(380)		101,201
Total liabilities and stockholders’ equity				$	205,105	$	2,755	$	207,860

			Year ended September 30, 2010
			As Reported		Adjustments		As Restated

Revenues			$	460,633	$	2,797	$	463,430
Cost of services				404,140		1,848		405,988
	Gross profit			56,493		949		57,442
Selling, general and administrative expenses				84,920		(43)		84,877
Gain on sale of assets				(174)		-		(174)
Restructuring charges				763		-		763
	Loss from operations			(29,016)		992		(28,024)
Interest and other (income) expense:
	Interest expense			3,513		-		3,513
	Interest income			(242)		-		(242)
	Other (income) expense, net			(109)		-		(109)
		Interest and other expense, net		3,162		-		3,162
Loss from operations before income taxes				(32,178)		992		(31,186)
Provision (benefit) for income taxes				(31)		-		(31)
Net loss			$	(32,147)	$	992	$	(31,155)

Basic loss per share:
	Continuing operations		$	(2.23)	$	0.07	$	(2.16)
	Total		$	(2.23)	$	0.07	$	(2.16)

Diluted loss per share:
	Continuing operations		$	(2.23)	$	0.07	$	(2.16)
Total			$	(2.23)	$	0.07	$	(2.16)
Shares used in the computation of loss per share
	Basic			14,409,368		14,409,368		14,409,368
	Diluted			14,409,368		14,409,368		14,409,368

			Year Ended September 30, 2010
			As Reported		Adjustments		As Restated
CASH FLOWS FROM OPERATING ACTIVITIES:
	Net loss		$	(32,147)	$	992	$	(31,155)
	Adjustments to reconcile net loss to net cash provided by operating activities
		Bad debt expense		7,440		-		7,440
		Deferred financing cost amortization		314		-		314
		Depreciation and amortization		5,291		-		5,291
		Loss (gain) on sale of assets		(174)		-		(174)
		Non-cash compensation expense		1,370		-		1,370
		Impairment of investment		150		-		150
		Deferred income tax		(1,244)		-		(1,244)
	Changes in operation assets and liabilities
		Accounts receivable		17,768		-		17,768
		Inventories		(2,527)		(115)		(2,642)
		Costs and estimated earnings in excess of billings		988		(1,983)		(995)
		Prepaid expenses and other current assets		1,820		-		1,820
		Other non-current assets		1,463		-		1,463
		Accounts payable and accrued expenses		(8,679)		2,971		(5,708)
		Billings in excess of costs and estimated earnings		(4,033)		(1,865)		(5,898)
		Other non-current liabilities		(966)		-		(966)
Net cash (used in) provided by continuing operations				(13,166)		-		(13,166)
Net cash (used in) provided by operating activities				(13,166)		-		(13,166)
CASH FLOWS FROM INVESTING ACTIVITIES:
	Purchases of property and equipment			(924)		-		(924)
	Proceeds from sales of property and equipment			328		-		328
	Distribution from unconsolidated affiliates			393		-		393
Net cash (used in) provided by continuing operations				(203)		-		(203)
Net cash (used in) provided by investing activities				(203)		-		(203)
CASH FLOWS FROM FINANCING ACTIVITIES:
	Borrowings of debt			753		-		753
	Repayments of debt			(18,184)		-		(18,184)
	Purchase of treasury stock			(172)		-		(172)
	Payments for debt issuance costs			(278)		-		(278)
Net used in financing activities				(17,881)		-		(17,881)
NET INCREASE (DECREASE) IN CASH EQUIVALENTS				(31,250)		-		(31,250)
CASH AND CASH EQUIVALENTS, beginning of period				64,174		-		64,174
CASH AND CASH EQUIVALENTS, end of period			$	32,924	$	-	$	32,924
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:

				As of September 30, 2011
				As Reported		Adjustments		As Restated
ASSETS
	CURRENT ASSETS:
		Cash and cash equivalents		$	35,577	$	-	$	35,577
		Accounts receivable:
			Trade, Net		85,728		-		85,728
			Retainage		17,944		-		17,944
		Inventories			8,443		-		8,443
		Costs and estimated earnings in excess of billings on uncompleted contracts			10,592		(629)		9,963
		Prepaid expenses and other current assets			2,840		-		2,840
	Total current assets				161,124		(629)		160,495
	LONG TERM NOTES RECEIVABLES, net				200		-		200
	PROPERTY AND EQUIPMENT, net				8,016		-		8,016
	GOODWILL				3,839		607		4,446
	OTHER NON-CURRENT ASSETS, net				7,087		-		7,087
Total assets				$	180,266	$	(22)	$	180,244
LIABILITIES AND STOCKHOLDERS’ EQUITY
	CURRENT LIABILITIES:
		Current maturities of long-term debt		$	209	$	-	$	209
		Accounts payable and accrued expenses			79,858		(878)		78,980
		Billings in excess of costs and estimated earnings on uncompleted contracts			18,220		1,365		19,585
	Total current liabilities				98,287		487		98,774
	LONG-TERM DEBT, net of current maturities				10,289		-		10,289
	LONG-TERM DEFERRED TAX LIABILITY				284		-		284
	OTHER NON-CURRENT LIABILITIES				6,596		-		6,596
Total liabilities					115,456		487		115,943
	STOCKHOLDERS’ EQUITY:
		Preferred stock, $0.01 par value			-		-		-
		Common stock, $0.01 par value			154		-		154
		Treasury stock, at cost			(5,595)		-		(5,595)
		Additional paid-in capital			164,262		-		164,262
		Retained deficit			(94,011)		(509)		(94,520)
Total stockholders’ equity					64,810		(509)		64,301
Total liabilities and stockholders’ equity				$	180,266	$	(22)	$	180,244

			Year ended September 30, 2011
			As Reported		Adjustments		As Restated

Revenues			$	481,607	$	(6,244)	$	475,363
Cost of services				445,585		(5,607)		439,978
	Gross profit			36,022		(637)		35,385
Selling, general and administrative expenses				69,365		(507)		68,858
Gain on sale of assets				(6,583)		-		(6,583)
Asset Impairment				4,804		-		4,804
Restructuring charges				3,784		-		3,784
	Loss from operations			(35,348)		(130)		(35,478)
Interest and other (income) expense:
	Interest expense			2,277		-		2,277
	Interest income			(68)		-		(68)
	Other (income) expense, net			(10)		-		(10)
		Interest and other expense, net		2,199		-		2,199
Loss from operations before income taxes				(37,547)		(130)		(37,677)
Provision (benefit) for income taxes				146		-		146
Net loss			$	(37,693)	$	(130)	$	(37,823)

Basic loss per share:
	Continuing operations		$	(2.60)	$	(0.01)	$	(2.61)
	Total		$	(2.60)	$	(0.01)	$	(2.61)

Diluted loss per share:
	Continuing operations		$	(2.60)	$	(0.01)	$	(2.61)
Total			$	(2.60)	$	(0.01)	$	(2.61)
Shares used in the computation of loss per share
	Basic			14,493,747		14,493,747		14,493,747
	Diluted			14,493,747		14,493,747		14,493,747

			Year Ended September 30, 2011
			As Reported		Adjustments		As Restated
CASH FLOWS FROM OPERATING ACTIVITIES:
	Net loss		$	(37,693)	$	(130)	$	(37,823)
	Adjustments to reconcile net loss to net cash provided by operating activities
		Bad debt expense		(715)		-		(715)
		Deferred financing cost amortization		338		-		338
		Depreciation and amortization		6,356		-		6,356
		Gain on sale of business units		(6,657)		-		(6,657)
		Loss (gain) on sale of assets		88		-		88
		Non-cash compensation expense		906		-		906
		Impairment of investment		4,804		50		4,854
		Deferred income tax		(107)		-		(107)
	Changes in operation assets and liabilities
		Accounts receivable		(2,761)		-		(2,761)
		Inventories		(537)		-		(537)
		Costs and estimated earnings in excess of billings		1,592		630		2,222
		Prepaid expenses and other current assets		1,206		-		1,206
		Other non-current assets		3,092		-		3,092
		Accounts payable and accrued expenses		16,777		(1,915)		14,862
		Billings in excess of costs and estimated earnings		1,111		1,365		2,476
		Other non-current liabilities		348		-		348
Net cash (used in) provided by continuing operations				(11,852)		-		(11,852)
Net cash (used in) provided by operating activities				(11,852)		-		(11,852)
CASH FLOWS FROM INVESTING ACTIVITIES:
	Purchases of property and equipment			(2,688)		-		(2,688)
	Proceeds from sales of property and equipment			1,268		-		1,268
	Proceeds from sales of facilities			16,763		-		16,763
Net cash (used in) provided by continuing operations				15,343		-		15,343
Net cash (used in) provided by investing activities				15,343		-		15,343
CASH FLOWS FROM FINANCING ACTIVITIES:
	Repayments of debt			(766)		-		(766)
	Purchase of treasury stock			(72)		-		(72)
Net used in financing activities				(838)		-		(838)
NET INCREASE (DECREASE) IN CASH EQUIVALENTS				2,653		-		2,653
CASH AND CASH EQUIVALENTS, beginning of period				32,924		-		32,924
CASH AND CASH EQUIVALENTS, end of period			$	35,577	$	-	$	35,577