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Revenues
for its United States electrical construction and facilities services
segment for 1999 increased by $104.5 million, or 11.8%, compared
to 1998. Revenues from companies acquired during 1999 and 1998 contributed
$23.0 million of the increase, whereas $81.5 million, or a 9.2%
increase, was due to growth from the balance of EMCOR's United States
electrical construction and facilities services businesses. The
growth in revenues from the balance of EMCOR's operations was due
to continuing favorable market conditions for business units located
in the Eastern and Midwest United States, partially offset by anticipated
decreases in certain business activities in the Western United States.
The favorable market conditions were due to increased renovation
projects in these locations, as well as increased new construction
spending. The decreased business activities in the Western United
States was primarily attributable to reduced new construction activity
on casinos in Las Vegas. The
$143.6 million, or 19.3%, increase in 1998 revenues compared to
1997, was attributable to $19.4 million of revenues from companies
acquired during 1998 as well as from growth from the balance of
other business units located primarily in the Eastern and Midwestern
United States. In particular, 1998 revenues were favorably impacted,
compared to 1997, by increased interior renovation projects in New
York City commercial office buildings associated with corporate
relocations.
United
States mechanical construction and facilities services revenues
increased $454.1 million, or 75.7%. Revenues from companies acquired
during 1999 and 1998 contributed $377.5 million, whereas $76.6 million
of the increase in revenues, or a 12.8% increase, was due to growth
from the balance of EMCOR's United States mechanical construction
and facilities services. Eastern and Western United States based
operations were the major contributors to the increase in revenue
due to the continued strong renovation market in New York City and
strengthened new construction markets in Denver and Salt Lake City.
A $22.0 million, or 3.8%, increase in revenues for 1998 compared
to 1997 was attributable to $38.2 million of revenues related to
1998 acquisitions offset by the anticipated reduction of certain
business activities in California.
United
States other revenues increased by $81.8 million for 1999 compared
to 1998. The primary source of the increase in 1999 was revenues
of $75.6 million from companies acquired during 1999 and 1998. Revenues
from the balance of EMCOR's operations increased by $6.2 million,
or 42.7%, compared with 1998 revenues. Revenues for 1998 increased
by $11.4 million versus 1997, primarily attributable to revenues
of $7.3 million from companies acquired during 1998 and increased
revenues from the balance of EMCOR's United States other operations.
Revenues
of Canada construction and facilities services decreased by $5.2
million, or 2.6%, for 1999 as compared to 1998 revenues. The decrease
in revenues for 1999 compared with 1998 was primarily due to a reduced
level of activities in Eastern Canada and from delays during 1999
in the commencement of certain projects caused by delays in the
bidding process for certain jobs. The $22.9 million, or 12.8%, increase
in revenues for 1998 compared with 1997 was attributable to the
increase in construction and facility services activities in the
Eastern Canadian markets.
United
Kingdom construction and facilities services revenues increased
$60.4 million, or 12.2%, for 1999 compared to 1998 revenues principally
due to continued growth in selected construction and facilities
markets, combined with an increase in revenues associated with two
major projects. The $85.8 million, or
21.0%, increase in 1998 revenues compared with 1997 revenues was
attributable to growth in the construction and facilities services
market, primarily in the Southern United Kingdom.
Revenues
of Other International decreased for 1999 to $0.7 million, compared
to $12.6 million for 1998 and $38.8 million for 1997. The decline
in revenues for 1999 compared to 1998 was due to the completion
of several large projects in the Middle East and Asia markets during
1998. The decline for 1998 compared to 1997 was due to a reduction
of the level of ownership in, and related share of revenues from,
certain joint venture activities. EMCOR continues to pursue new
business selectively in these markets.
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