Acquisitions, projects drive up Pernix Group 3Q

LOMBARD - Recent acquisition and the completion of key projects helped push Pernix Group's third quarter 2015 revenues to $87 million.

The global construction company noted revenues from its construction business were $85.4 million, while its power generation unit brought in $1.6 million.

Officials noted it was the first reporting period with its acquisitions of BEK BG and dck, and that coupled withwith the completion of several major projects contracted by private companies and the U.S. State Department led to the positive results.

"We accomplished a lot in the third quarter. This was our first quarter in which we operated with our new acquisitions, BEK Building Group and Pernix Guam. In addition, we received major awards this quarter that increased our backlog to unprecedented levels for Pernix," said CEO & President Nidal Z. Zayed. "We are continuing to leverage our expanded global presence and diversify our offerings, as well as adding a significant number of new clients."

He said the acquisitions have added to the company's global footprint and will provide more it with more leverage as it seeks new projects from government and commercial sources.

For the remainder of the year and into 2016, Zayed said the company "will continue to be transformative as we gear up for larger projects that will allow us to showcase our capacity for growth."