2011 Q4 Form 10-K Financial Statement

#000110465913018371 Filed on March 07, 2013

View on sec.gov

Income Statement

Concept 2011 Q4 2011 Q2 2011 Q1
Revenue $373.1M $352.0M $359.6M
YoY Change 11.96% 73.21% 105.51%
Cost Of Revenue $322.0M $310.6M $319.0M
YoY Change 11.26% 75.85% 111.97%
Gross Profit $51.05M $41.41M $40.63M
YoY Change 16.54% 55.45% 65.84%
Gross Profit Margin 13.68% 11.76% 11.3%
Selling, General & Admin $25.80M $20.48M $19.85M
YoY Change 22.27% 29.41% 48.1%
% of Gross Profit 50.54% 49.45% 48.84%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $8.400M $8.800M $5.903M
YoY Change -29.41% 57.14% 5.41%
% of Gross Profit 16.46% 21.25% 14.53%
Operating Expenses $25.80M $20.48M $19.85M
YoY Change 21.7% 29.41% 47.0%
Operating Profit $25.25M $20.93M $20.79M
YoY Change 11.71% 93.55% 88.95%
Interest Expense -$4.300M $1.353M $1.371M
YoY Change 152.94% 10.9% -1471.0%
% of Operating Profit -17.03% 6.46% 6.6%
Other Income/Expense, Net -$200.0K -$306.0K -$297.0K
YoY Change -60.0% 2.0% -1.0%
Pretax Income $20.80M $23.70M $20.14M
YoY Change 1.46% 110.2% 88.2%
Income Tax $8.300M $9.236M $7.859M
% Of Pretax Income 39.9% 38.97% 39.03%
Net Earnings $12.47M $14.46M $12.28M
YoY Change 1.39% 103.69% 83.25%
Net Earnings / Revenue 3.34% 4.11% 3.41%
Basic Earnings Per Share $0.24 $0.28 $0.25
Diluted Earnings Per Share $0.24 $0.28 $0.24
COMMON SHARES
Basic Shares Outstanding 51.06M shares 51.04M shares 49.68M shares
Diluted Shares Outstanding 51.29M shares 51.15M shares 51.05M shares

Balance Sheet

Concept 2011 Q4 2011 Q2 2011 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $143.3M $158.3M $154.4M
YoY Change 1.34% 31.59% 37.49%
Cash & Equivalents $120.3M $135.3M $131.4M
Short-Term Investments $23.00M $23.00M $23.00M
Other Short-Term Assets $55.40M $38.40M $34.10M
YoY Change 58.29% 40.66% 50.88%
Inventory $31.93M $28.74M $47.70M
Prepaid Expenses
Receivables $186.7M $154.7M $146.6M
Other Receivables $700.0K $400.0K $200.0K
Total Short-Term Assets $459.9M $414.0M $383.0M
YoY Change 7.59% 32.92% 30.54%
LONG-TERM ASSETS
Property, Plant & Equipment $129.6M $121.0M $121.0M
YoY Change 5.26% 24.33% 33.41%
Goodwill $94.18M $94.18M
YoY Change 0.0%
Intangibles $32.02M $35.10M
YoY Change -21.19%
Long-Term Investments $12.69M $18.00M $18.50M
YoY Change -32.53% 480.65% 740.91%
Other Assets
YoY Change
Total Long-Term Assets $268.5M $268.3M $271.6M
YoY Change -2.98% 41.28% 47.77%
TOTAL ASSETS
Total Short-Term Assets $459.9M $414.0M $383.0M
Total Long-Term Assets $268.5M $268.3M $271.6M
Total Assets $728.4M $682.3M $654.6M
YoY Change 3.44% 36.08% 37.18%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $106.7M $90.79M $82.20M
YoY Change 19.27% 40.97% 24.73%
Accrued Expenses $59.92M $66.60M $54.30M
YoY Change 7.28% 72.54% 50.83%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $13.87M $27.60M $28.10M
YoY Change 44.13% 15.97% 43.37%
Total Short-Term Liabilities $345.0M $357.8M $334.3M
YoY Change -9.58% 45.79% 41.65%
LONG-TERM LIABILITIES
Long-Term Debt $55.85M $33.11M $61.30M
YoY Change 45.34% -59.73% -16.82%
Other Long-Term Liabilities $10.88M $1.862M $11.70M
YoY Change 162.41% -83.52% 2.63%
Total Long-Term Liabilities $66.73M $34.97M $73.00M
YoY Change 56.74% -62.6% -14.22%
TOTAL LIABILITIES
Total Short-Term Liabilities $345.0M $357.8M $334.3M
Total Long-Term Liabilities $66.73M $34.97M $73.00M
Total Liabilities $453.5M $436.3M $419.8M
YoY Change -8.57% 27.76% 29.69%
SHAREHOLDERS EQUITY
Retained Earnings $124.9M $96.17M
YoY Change 73.55%
Common Stock $150.0M $5.000K
YoY Change 10.1%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $274.9M $246.0M $234.9M
YoY Change
Total Liabilities & Shareholders Equity $728.4M $682.3M $654.6M
YoY Change 3.44% 36.08% 37.18%

Cashflow Statement

Concept 2011 Q4 2011 Q2 2011 Q1
OPERATING ACTIVITIES
Net Income $12.47M $14.46M $12.28M
YoY Change 1.39% 103.69% 83.25%
Depreciation, Depletion And Amortization $8.400M $8.800M $5.903M
YoY Change -29.41% 57.14% 5.41%
Cash From Operating Activities $14.30M $21.20M $30.70M
YoY Change -80.08% 236.51% -1635.0%
INVESTING ACTIVITIES
Capital Expenditures -$12.20M -$6.700M $4.080M
YoY Change 110.34% -40.18% -256.92%
Acquisitions
YoY Change
Other Investing Activities $1.000M $800.0K $3.200M
YoY Change -105.32% -123.53% 28.0%
Cash From Investing Activities -$11.10M -$5.900M -$900.0K
YoY Change -55.06% -59.59% 800.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $822.0K
YoY Change -76.51%
Debt Paid & Issued, Net $2.364M
YoY Change
Cash From Financing Activities 21.40M -11.40M -13.90M
YoY Change -262.12% -191.94% 195.74%
NET CHANGE
Cash From Operating Activities 14.30M 21.20M 30.70M
Cash From Investing Activities -11.10M -5.900M -900.0K
Cash From Financing Activities 21.40M -11.40M -13.90M
Net Change In Cash 24.60M 3.900M 15.90M
YoY Change -27.43% -4.88% -333.82%
FREE CASH FLOW
Cash From Operating Activities $14.30M $21.20M $30.70M
Capital Expenditures -$12.20M -$6.700M $4.080M
Free Cash Flow $26.50M $27.90M $26.62M
YoY Change -65.85% 59.43% 4336.67%

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EquityMethodInvestmentDividendsOrDistributions
9491000 USD
CY2012 prim Increase Decrease In Deferred Tax Assets Liabilities Net
IncreaseDecreaseInDeferredTaxAssetsLiabilitiesNet
879000 USD
CY2011 prim Increase Decrease In Deferred Tax Assets Liabilities Net
IncreaseDecreaseInDeferredTaxAssetsLiabilitiesNet
-7453000 USD
CY2010 prim Increase Decrease In Deferred Tax Assets Liabilities Net
IncreaseDecreaseInDeferredTaxAssetsLiabilitiesNet
1091000 USD
CY2012 prim Increase Decrease In Customer Retention Deposits And Restricted Cash Current
IncreaseDecreaseInCustomerRetentionDepositsAndRestrictedCashCurrent
3887000 USD
CY2011 prim Increase Decrease In Customer Retention Deposits And Restricted Cash Current
IncreaseDecreaseInCustomerRetentionDepositsAndRestrictedCashCurrent
18972000 USD
CY2010 prim Increase Decrease In Customer Retention Deposits And Restricted Cash Current
IncreaseDecreaseInCustomerRetentionDepositsAndRestrictedCashCurrent
5673000 USD
CY2012 us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
52092000 USD
CY2011 us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
-20767000 USD
CY2010 us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
42148000 USD
CY2012 us-gaap Increase Decrease In Unbilled Receivables
IncreaseDecreaseInUnbilledReceivables
-5426000 USD
CY2011 us-gaap Increase Decrease In Unbilled Receivables
IncreaseDecreaseInUnbilledReceivables
24591000 USD
CY2010 us-gaap Increase Decrease In Unbilled Receivables
IncreaseDecreaseInUnbilledReceivables
3765000 USD
CY2012 us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
1341000 USD
CY2011 us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
6654000 USD
CY2010 us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
6837000 USD
CY2012 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
34338000 USD
CY2011 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
17241000 USD
CY2010 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
12391000 USD
CY2012 us-gaap Increase Decrease In Billing In Excess Of Cost Of Earnings
IncreaseDecreaseInBillingInExcessOfCostOfEarnings
20639000 USD
CY2011 us-gaap Increase Decrease In Billing In Excess Of Cost Of Earnings
IncreaseDecreaseInBillingInExcessOfCostOfEarnings
-67539000 USD
CY2010 us-gaap Increase Decrease In Billing In Excess Of Cost Of Earnings
IncreaseDecreaseInBillingInExcessOfCostOfEarnings
55825000 USD
CY2012 us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability
1435000 USD
CY2011 us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability
-2927000 USD
CY2010 us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability
-290000 USD
CY2012 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
3176000 USD
CY2011 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
3318000 USD
CY2010 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
5375000 USD
CY2012 us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
2138000 USD
CY2011 us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
6735000 USD
CY2010 us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
4147000 USD
CY2012 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
98393000 USD
CY2011 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
39500000 USD
CY2010 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
81848000 USD
CY2012 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
37395000 USD
CY2011 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
29052000 USD
CY2010 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
23640000 USD
CY2012 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
9035000 USD
CY2011 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
3443000 USD
CY2010 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
2967000 USD
CY2012 us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
6869000 USD
CY2011 us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
36000000 USD
CY2010 us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
44000000 USD
CY2012 us-gaap Proceeds From Sale Of Short Term Investments
ProceedsFromSaleOfShortTermInvestments
26428000 USD
CY2011 us-gaap Proceeds From Sale Of Short Term Investments
ProceedsFromSaleOfShortTermInvestments
39000000 USD
CY2010 us-gaap Proceeds From Sale Of Short Term Investments
ProceedsFromSaleOfShortTermInvestments
48058000 USD
CY2010 us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
18065000 USD
CY2010 prim Payments For Acquisitions
PaymentsForAcquisitions
39120000 USD
CY2010 us-gaap Cash Acquired From Acquisition
CashAcquiredFromAcquisition
19623000 USD
CY2012 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-95008000 USD
CY2011 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-22609000 USD
CY2010 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-54177000 USD
CY2012 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
94471000 USD
CY2011 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
44000000 USD
CY2010 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
27500000 USD
CY2012 us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
9021000 USD
CY2011 us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
6282000 USD
CY2010 us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
4600000 USD
CY2012 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
26633000 USD
CY2011 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
22329000 USD
CY2010 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
12696000 USD
CY2012 us-gaap Repayments Of Subordinated Debt
RepaymentsOfSubordinatedDebt
17501000 USD
CY2011 us-gaap Repayments Of Subordinated Debt
RepaymentsOfSubordinatedDebt
20710000 USD
CY2010 us-gaap Repayments Of Subordinated Debt
RepaymentsOfSubordinatedDebt
27001000 USD
CY2011 us-gaap Payments For Repurchase Of Other Equity
PaymentsForRepurchaseOfOtherEquity
2030000 USD
CY2012 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
1240000 USD
CY2010 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
-390000 USD
CY2010Q3 us-gaap Payments For Repurchase Of Warrants
PaymentsForRepurchaseOfWarrants
277000 USD
CY2012 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
1001000 USD
CY2012 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
7695000 USD
CY2011 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
5318000 USD
CY2010 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
4404000 USD
CY2010 us-gaap Distribution Made To Member Or Limited Partner Cash Distributions Paid
DistributionMadeToMemberOrLimitedPartnerCashDistributionsPaid
1966000 USD
CY2012 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
33860000 USD
CY2011 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-12022000 USD
CY2010 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-1364000 USD
CY2011Q4 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
87700000 USD
CY2012 us-gaap Stock Issued During Period Shares Employee Stock Purchase Plans
StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans
111790 shares
CY2012Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
1270744 shares
CY2012 us-gaap Net Cash Provided By Used In Continuing Operations
NetCashProvidedByUsedInContinuingOperations
37245000 USD
CY2011 us-gaap Net Cash Provided By Used In Continuing Operations
NetCashProvidedByUsedInContinuingOperations
4869000 USD
CY2010 us-gaap Net Cash Provided By Used In Continuing Operations
NetCashProvidedByUsedInContinuingOperations
25433000 USD
CY2012 us-gaap Interest Paid
InterestPaid
3004000 USD
CY2011 us-gaap Interest Paid
InterestPaid
4765000 USD
CY2010 us-gaap Interest Paid
InterestPaid
6131000 USD
CY2012 us-gaap Income Taxes Paid
IncomeTaxesPaid
31404000 USD
CY2011 us-gaap Income Taxes Paid
IncomeTaxesPaid
33600000 USD
CY2010 us-gaap Income Taxes Paid
IncomeTaxesPaid
26794000 USD
CY2010Q4 us-gaap Business Acquisition Equity Interest Issued Or Issuable Value Assigned
BusinessAcquisitionEquityInterestIssuedOrIssuableValueAssigned
-13600000 USD
CY2010Q4 us-gaap Business Combination Liabilities Arising From Contingencies Amount Recognized
BusinessCombinationLiabilitiesArisingFromContingenciesAmountRecognized
-14272000 USD
CY2012 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
2932000 USD
CY2011 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
5312000 USD
CY2011Q4 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
1532000 USD
CY2010Q4 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
1234000 USD
CY2010Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
115437000 USD
CY2011Q4 us-gaap Short Term Investments
ShortTermInvestments
23000000 USD
CY2012Q4 us-gaap Contract Receivable Due One Year Or Less
ContractReceivableDueOneYearOrLess
227548000 USD
CY2011Q4 us-gaap Contract Receivable Due One Year Or Less
ContractReceivableDueOneYearOrLess
166298000 USD
CY2012Q4 us-gaap Contract Receivable Retainage Due One Year Or Less
ContractReceivableRetainageDueOneYearOrLess
39710000 USD
CY2011Q4 us-gaap Contract Receivable Retainage Due One Year Or Less
ContractReceivableRetainageDueOneYearOrLess
20378000 USD
CY2012Q4 us-gaap Receivables Long Term Contracts Or Programs
ReceivablesLongTermContractsOrPrograms
267258000 USD
CY2011Q4 us-gaap Receivables Long Term Contracts Or Programs
ReceivablesLongTermContractsOrPrograms
186676000 USD
CY2012Q4 us-gaap Accounts And Other Receivables Net Current
AccountsAndOtherReceivablesNetCurrent
837000 USD
CY2011Q4 us-gaap Accounts And Other Receivables Net Current
AccountsAndOtherReceivablesNetCurrent
702000 USD
CY2012 us-gaap Revenue From Related Parties
RevenueFromRelatedParties
502000 USD
CY2011 us-gaap Revenue From Related Parties
RevenueFromRelatedParties
5681000 USD
CY2010 us-gaap Revenue From Related Parties
RevenueFromRelatedParties
1568000 USD
CY2012Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
432000 USD
CY2011Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
363000 USD
CY2012Q4 prim Costs Incurred On Uncompleted Contracts
CostsIncurredOnUncompletedContracts
3882968000 USD
CY2011Q4 prim Costs Incurred On Uncompleted Contracts
CostsIncurredOnUncompletedContracts
2977535000 USD
CY2012Q4 us-gaap Provision For Loss On Contracts
ProvisionForLossOnContracts
764000 USD
CY2011Q4 us-gaap Provision For Loss On Contracts
ProvisionForLossOnContracts
917000 USD
CY2012Q4 prim Gross Profit Recognized On Uncompleted Contracts
GrossProfitRecognizedOnUncompletedContracts
448928000 USD
CY2011Q4 prim Gross Profit Recognized On Uncompleted Contracts
GrossProfitRecognizedOnUncompletedContracts
303634000 USD
CY2012Q4 prim Costs And Estimated Earnings On Uncompleted Contracts
CostsAndEstimatedEarningsOnUncompletedContracts
4332660000 USD
CY2011Q4 prim Costs And Estimated Earnings On Uncompleted Contracts
CostsAndEstimatedEarningsOnUncompletedContracts
3282086000 USD
CY2012Q4 prim Billings To Date On Uncompleted Contracts
BillingsToDateOnUncompletedContracts
4449851000 USD
CY2011Q4 prim Billings To Date On Uncompleted Contracts
BillingsToDateOnUncompletedContracts
3377949000 USD
CY2012Q4 prim Net Costs And Estimated Earnings In Excess Of Billings
NetCostsAndEstimatedEarningsInExcessOfBillings
-117191000 USD
CY2011Q4 prim Net Costs And Estimated Earnings In Excess Of Billings
NetCostsAndEstimatedEarningsInExcessOfBillings
-95863000 USD
CY2012Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
289829000 USD
CY2011Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
213240000 USD
CY2012Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
104989000 USD
CY2011Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
83591000 USD
CY2011Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
32021000 USD
CY2012Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
7020000 USD
CY2012Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
6986000 USD
CY2012Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
5834000 USD
CY2012Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
5330000 USD
CY2012Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
5318000 USD
CY2012Q4 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
21490000 USD
CY2012Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
13401000 USD
CY2011Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
7066000 USD
CY2011Q4 us-gaap Liabilities Of Disposal Group Including Discontinued Operation Current
LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent
733000 USD
CY2012Q4 us-gaap Retention Payable Due One Year Or Less
RetentionPayableDueOneYearOrLess
15946000 USD
CY2011Q4 us-gaap Retention Payable Due One Year Or Less
RetentionPayableDueOneYearOrLess
13980000 USD
CY2012Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
33086000 USD
CY2011Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
29110000 USD
CY2012Q4 us-gaap Accrued Insurance Current
AccruedInsuranceCurrent
22982000 USD
CY2011Q4 us-gaap Accrued Insurance Current
AccruedInsuranceCurrent
18732000 USD
CY2012Q4 prim Accrued Overhead Cost Current
AccruedOverheadCostCurrent
2007000 USD
CY2012Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
3779000 USD
CY2011Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
1546000 USD
CY2011Q4 prim Accrued Overhead Cost Current
AccruedOverheadCostCurrent
1819000 USD
CY2012Q4 us-gaap Liabilities Of Disposal Group Including Discontinued Operation Current
LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent
133000 USD
CY2012Q4 us-gaap Capital Leases Future Minimum Payments Due Current
CapitalLeasesFutureMinimumPaymentsDueCurrent
3921000 USD
CY2012Q4 us-gaap Capital Leases Future Minimum Payments Due In Two Years
CapitalLeasesFutureMinimumPaymentsDueInTwoYears
2736000 USD
CY2012Q4 us-gaap Capital Leases Future Minimum Payments Due In Three Years
CapitalLeasesFutureMinimumPaymentsDueInThreeYears
1141000 USD
CY2012Q4 us-gaap Capital Leases Future Minimum Payments Due In Four Years
CapitalLeasesFutureMinimumPaymentsDueInFourYears
105000 USD
CY2012Q4 us-gaap Capital Leases Future Minimum Payments Due
CapitalLeasesFutureMinimumPaymentsDue
7903000 USD
CY2012Q4 us-gaap Capital Leases Future Minimum Payments Interest Included In Payments
CapitalLeasesFutureMinimumPaymentsInterestIncludedInPayments
339000 USD
CY2012Q4 us-gaap Capital Leases Future Minimum Payments Present Value Of Net Minimum Payments
CapitalLeasesFutureMinimumPaymentsPresentValueOfNetMinimumPayments
7564000 USD
CY2012Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
11532000 USD
CY2012Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
9605000 USD
CY2012Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
7309000 USD
CY2012Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
4658000 USD
CY2012Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
2661000 USD
CY2012Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
5252000 USD
CY2012Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
41017000 USD
CY2012 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
10684000 USD
CY2011 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
9530000 USD
CY2010 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
9856000 USD
CY2011 us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
1278000 USD
CY2010 us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
1151000 USD
CY2012 us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
1342000 USD
CY2012 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
3 item
CY2012 prim Revenue Percentage
RevenuePercentage
1.000 pure
CY2011 prim Revenue Percentage
RevenuePercentage
1.000 pure
CY2010 prim Revenue Percentage
RevenuePercentage
1.000 pure
CY2012 prim Gross Profit As Percentage Of Segment Revenue
GrossProfitAsPercentageOfSegmentRevenue
0.125 pure
CY2011 prim Gross Profit As Percentage Of Segment Revenue
GrossProfitAsPercentageOfSegmentRevenue
0.127 pure
CY2010 prim Gross Profit As Percentage Of Segment Revenue
GrossProfitAsPercentageOfSegmentRevenue
0.130 pure
CY2012 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Foreign
EffectiveIncomeTaxRateReconciliationTaxCreditsForeign
0.0001 pure
CY2011 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Foreign
EffectiveIncomeTaxRateReconciliationTaxCreditsForeign
0.0052 pure
CY2010 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Foreign
EffectiveIncomeTaxRateReconciliationTaxCreditsForeign
0.0188 pure
CY2012 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
0.0001 pure
CY2011 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
0.0052 pure
CY2010 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
0.0188 pure
CY2012 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
27524000 USD
CY2011 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
24791000 USD
CY2010 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
18491000 USD
CY2012 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
7125000 USD
CY2011 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
5697000 USD
CY2010 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
4663000 USD
CY2012 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
67000 USD
CY2011 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
621000 USD
CY2010 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
1081000 USD
CY2012 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
34716000 USD
CY2011 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
31109000 USD
CY2010 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
24235000 USD
CY2012 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-451000 USD
CY2011 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
6488000 USD
CY2010 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-1951000 USD
CY2012 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-366000 USD
CY2011 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
849000 USD
CY2010 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-189000 USD
CY2012 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
-62000 USD
CY2011 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
-122000 USD
CY2010 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
-36000 USD
CY2012 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-879000 USD
CY2011 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
7215000 USD
CY2010 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-2176000 USD
CY2011 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
-150000 USD
CY2012 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.3500 pure
CY2011 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.3500 pure
CY2010 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.3500 pure
CY2012 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.0487 pure
CY2011 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.0433 pure
CY2010 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.0452 pure
CY2012 us-gaap Effective Income Tax Rate Reconciliation Deductions Qualified Production Activities
EffectiveIncomeTaxRateReconciliationDeductionsQualifiedProductionActivities
0.0297 pure
CY2011 us-gaap Effective Income Tax Rate Reconciliation Deductions Qualified Production Activities
EffectiveIncomeTaxRateReconciliationDeductionsQualifiedProductionActivities
0.0279 pure
CY2010 us-gaap Effective Income Tax Rate Reconciliation Deductions Qualified Production Activities
EffectiveIncomeTaxRateReconciliationDeductionsQualifiedProductionActivities
0.0330 pure
CY2012 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.0045 pure
CY2011 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.0292 pure
CY2010 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.0340 pure
CY2012 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.3735 pure
CY2011 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.3946 pure
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1511000 USD
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4337909 shares
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141570000 USD
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P1Y
CY2012 prim Incremental Common Shares Attributable To Shares Issued On Acquisition
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4000 shares
CY2012 us-gaap Nature Of Operations
NatureOfOperations
<div style='font-size:10.0pt;FONT-FAMILY: Times New Roman;'> <p style="MARGIN: 0in 0in 0pt"><b><font style="FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Note&#160;1&#8212;Nature of Business</font></b></p> <p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p> <p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><b><i><font style="FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman" size="2">Organization and operations</font></i></b> <font style="FONT-SIZE: 10pt" size="2"><b>&#8212;</b>Primoris Services Corporation is a holding company of various subsidiaries, which collectively are engaged in various construction and product engineering activities. The Company&#8217;s underground and directional drilling operations install, replace and repair natural gas, petroleum, telecommunications and water pipeline systems, including large diameter pipeline systems. The Company&#8217;s industrial, civil and engineering operations build and provide maintenance services to industrial facilities including power plants, petrochemical facilities, and other processing plants; construct multi-level parking structures; and engage in the construction of highways, bridges and other environmental construction activities. The Company is incorporated in the State of Delaware and in 2011 moved its corporate headquarters from Lake Forest, California to 2100 McKinney Avenue, Suite&#160;1500, Dallas, Texas 75201.</font></p> <p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p> <p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">The wholly-owned subsidiaries of Primoris include ARB,&#160;Inc. (&#8220;ARB&#8221;), ARB Structures,&#160;Inc.</font><font style="FONT-SIZE: 10pt" size="2">, All Day Electric Company,&#160;Inc., OnQuest,&#160;Inc., Cardinal Contractors,&#160;Inc., Stellaris,&#160;LLC, James Construction Group LLC (&#8220;JCG&#8221;), Rockford Corporation (&#8220;Rockford&#8221;), Primoris Energy Services Corporation (&#8220;PES&#8221;) and Q3 Contracting,&#160;Inc (&#8220;Q3C&#8221;).</font></p> <p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p> <p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Primoris has been acquisitive over the last several years expanding both service capabilities and geographic footprint.&#160; The acquisitions include:</font></p> <p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p> <p style="MARGIN: 0in 0in 0pt 70.6pt; TEXT-INDENT: -35.3pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Symbol" size="2">&#183;</font><font style="FONT-SIZE: 3pt" size="1">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font> <font style="FONT-SIZE: 10pt" size="2">On December&#160;18, 2009, we acquired JCG.&#160; JCG is one of the largest general contractors based in the Gulf Coast states and is engaged in highway, industrial and environmental construction, primarily in Louisiana, Texas and Florida.</font></p> <p style="MARGIN: 0in 0in 0pt 70pt; TEXT-INDENT: -35pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Symbol" size="2">&#183;</font><font style="FONT-SIZE: 3pt" size="1">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font> <font style="FONT-SIZE: 10pt" size="2">On November&#160;8, 2010, the Company acquired Rockford, which specializes in construction of large diameter natural gas and liquid pipeline projects and related facilities.</font></p> <p style="MARGIN: 0in 0in 0pt 70pt; TEXT-INDENT: -35pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Symbol" size="2">&#183;</font><font style="FONT-SIZE: 3pt" size="1">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font> <font style="FONT-SIZE: 10pt" size="2">During 2012, the Company made four acquisitions:</font></p> <p style="MARGIN: 0in 0in 0pt 70pt; TEXT-INDENT: -35pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p> <p style="MARGIN: 0in 0in 0pt 1.75in; TEXT-INDENT: -0.25in"><b><font style="FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">a.</font></b><b><font style="FONT-WEIGHT: bold; FONT-SIZE: 3pt" size="1">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></b> <font style="FONT-SIZE: 10pt" size="2">On March&#160;12, 2012, the Company&#8217;s subsidiary, PES, purchased the assets of Sprint Pipeline Services, L.P. (&#8220;Sprint&#8221;) headquartered in Pearland (outside Houston), Texas.&#160; Sprint provides a comprehensive range of pipeline construction, maintenance, upgrade, fabrication and specialty services primarily in the southeastern United States.&#160; As part of the purchase, PES has the right to use the name of Sprint for a three year period.</font></p> <p style="MARGIN: 0in 0in 0pt 1.75in; TEXT-INDENT: -0.25in"><b><font style="FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">b.</font></b><b><font style="FONT-WEIGHT: bold; FONT-SIZE: 3pt" size="1">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></b> <font style="FONT-SIZE: 10pt" size="2">On May&#160;30, 2012, the Company&#8217;s subsidiary JCG, purchased certain of the assets of Silva Contracting Company,&#160;Inc., Tarmac Materials, LLC and C3 Interest, LLC (collectively &#8220;Silva&#8221;).&#160; Silva provides transportation infrastructure maintenance, asphalt paving, and material sales in the Gulf Coast region of the United States.</font></p> <p style="MARGIN: 0in 0in 0pt 1.75in; TEXT-INDENT: -0.25in"><b><font style="FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">c.</font></b><b><font style="FONT-WEIGHT: bold; FONT-SIZE: 3pt" size="1">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></b> <font style="FONT-SIZE: 10pt" size="2">On September&#160;28, 2012, the Company purchased the assets of The Saxon Group (&#8220;Saxon&#8221;).&#160; Based outside of Atlanta, Georgia, Saxon is a full service industrial construction enterprise with special expertise in the industrial gas processing and power plant sectors.</font></p> <p style="MARGIN: 0in 0in 0pt 1.75in; TEXT-INDENT: -0.25in"><b><font style="FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">d.</font></b><b><font style="FONT-WEIGHT: bold; FONT-SIZE: 3pt" size="1">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></b> <font style="FONT-SIZE: 10pt" size="2">On November&#160;17, 2012, the Company acquired Q3C Contracting,&#160;Inc.&#160; Q3C specializes in small diameter pipeline and gas distribution construction, restorative and other services, primarily in the upper Midwest region of the United States.</font></p> <p style="MARGIN: 0in 0in 0pt 1.75in"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p> <p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 35pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">In 2011, the Company entered into a joint venture agreement and formed Blythe Power Constructors for the installation of a parabolic trough solar field and steam generation system in California.</font></p> <p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 35pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p> <p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">The Company&#8217;s common stock trades on the NASDAQ Select Global Market under the symbol &#8220;PRIM&#8221;.&#160; In February&#160;2008, Primoris Corporation (referred to as &#8220;Former Primoris&#8221;), a privately-held company, entered into an Agreement and Plan of Merger with Rhapsody Acquisition Corp. (&#8220;Rhapsody&#8221;), a publicly-held company.&#160; Rhapsody was founded as a special purpose acquisition company in 2006, to affect a business combination with an operating business. In July&#160;2008, the merger was completed and Rhapsody changed its name to &#8220;Primoris Services Corporation&#8221;.</font></p> <p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p> <p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Unless specifically noted otherwise, as used throughout these consolidated financial statements, &#8220;Primoris&#8221;, &#8220;the Company&#8221;, &#8220;we&#8221;, &#8220;our&#8221;, &#8220;us&#8221; or &#8220;its&#8221; refers to the business, operations and financial results of the Company and its wholly-owned subsidiaries.&#160;&#160; Reclassifications have been made to prior year financial statement presentation to conform to the current year presentation.</font></p> <p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p> <p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><b><i><font style="FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman" size="2">Seasonality</font></i></b><b><font style="FONT-WEIGHT: bold; FONT-SIZE: 10pt" size="2">&#8212;</font></b><font style="FONT-SIZE: 10pt" size="2">Primoris&#8217; results of operations are subject to quarterly variations. Some of the variation is the result of weather, particularly rain and snow, which can impact Primoris&#8217; ability to perform construction services. While the majority of the Company&#8217;s work is in the southern half of the United States, these seasonal impacts affect revenues and profitability since gas and other utilities defer routine replacement and repair during their period of peak demand.&#160; In addition, demand for new projects tends to be lower during the early part of the year due to clients&#8217; internal budget cycles.&#160; As a result, the Company usually experiences higher revenues and earnings in the third and fourth quarters of the year as compared to the first two quarters.</font></p> <p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p> <p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">The Company is also dependent on large construction projects which tend not to be seasonal, but can fluctuate from year to year based on general economic conditions.&#160; Because of the cyclical nature of its business, the financial results for any period may fluctuate from prior periods, and the Company&#8217;s financial condition and operating results may vary from quarter-to-quarter.&#160; Results from one quarter may not be indicative of its financial condition or operating results for any other quarter or for an entire year.</font></p> <p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></div>
CY2012 prim Payments For Acquisitions
PaymentsForAcquisitions
86207000 USD
CY2012 prim Term Of Certificates Of Deposit Minimum
TermOfCertificatesOfDepositMinimum
P4M
CY2012Q4 us-gaap Business Combination Liabilities Arising From Contingencies Amount Recognized
BusinessCombinationLiabilitiesArisingFromContingenciesAmountRecognized
-15598000 USD
CY2012Q4 us-gaap Business Acquisition Purchase Price Allocation Liabilities Assumed
BusinessAcquisitionPurchasePriceAllocationLiabilitiesAssumed
-32756000 USD
CY2012Q4 us-gaap Business Acquisition Cost Of Acquired Entity Cash Paid
BusinessAcquisitionCostOfAcquiredEntityCashPaid
86207000 USD
CY2010Q4 us-gaap Business Acquisition Purchase Price Allocation Notes Payable And Long Term Debt
BusinessAcquisitionPurchasePriceAllocationNotesPayableAndLongTermDebt
-16712000 USD
CY2010Q4 us-gaap Business Acquisition Purchase Price Allocation Liabilities Assumed
BusinessAcquisitionPurchasePriceAllocationLiabilitiesAssumed
-77489000 USD
CY2012 us-gaap Profit Loss
ProfitLoss
58267000 USD
CY2011 us-gaap Profit Loss
ProfitLoss
58559000 USD
CY2010 us-gaap Profit Loss
ProfitLoss
33616000 USD
CY2012Q1 us-gaap Profit Loss
ProfitLoss
10530000 USD
CY2012Q2 us-gaap Profit Loss
ProfitLoss
11857000 USD
CY2012Q3 us-gaap Profit Loss
ProfitLoss
17948000 USD
CY2012Q4 us-gaap Profit Loss
ProfitLoss
17932000 USD
CY2012Q4 us-gaap Minority Interest
MinorityInterest
1511000 USD
CY2012Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
332638000 USD
CY2011Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
274932000 USD
CY2009Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
143959000 USD
CY2010Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
208231000 USD
CY2012 us-gaap Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
980000 USD
CY2012 prim Common Stock Issued During Period Value Acquisition Two
CommonStockIssuedDuringPeriodValueAcquisitionTwo
3450000 USD
CY2012 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
1001000 USD
CY2012 prim Business Acquisition Number Of Acquisitions
BusinessAcquisitionNumberOfAcquisitions
4 item
CY2012 prim Number Of Variable Interest Entities Whose Financial Results Are Consolidated
NumberOfVariableInterestEntitiesWhoseFinancialResultsAreConsolidated
1 item
CY2011 prim Significant Revision In Contract Estimate Increase Decrease In Per Diluted Share
SignificantRevisionInContractEstimateIncreaseDecreaseInPerDilutedShare
0.10
CY2010 prim Significant Revision In Contract Estimate Increase Decrease In Per Diluted Share
SignificantRevisionInContractEstimateIncreaseDecreaseInPerDilutedShare
0.12
CY2009 prim Significant Revision In Contract Estimate Increase Decrease In Per Diluted Share
SignificantRevisionInContractEstimateIncreaseDecreaseInPerDilutedShare
0.13
CY2012Q4 prim Multiemployer Plans Selling Gneral And Administration Expense
MultiemployerPlansSellingGneralAndAdministrationExpense
2500000 USD
CY2012 us-gaap Effective Income Tax Rate Reconciliation Minority Interest Income Expense
EffectiveIncomeTaxRateReconciliationMinorityInterestIncomeExpense
0.0061 pure
CY2012 prim Effective Income Tax Rate Continuing Operations After Minority Interest
EffectiveIncomeTaxRateContinuingOperationsAfterMinorityInterest
0.3674 pure
CY2011 prim Effective Income Tax Rate Continuing Operations After Minority Interest
EffectiveIncomeTaxRateContinuingOperationsAfterMinorityInterest
0.3946 pure
CY2010 prim Effective Income Tax Rate Continuing Operations After Minority Interest
EffectiveIncomeTaxRateContinuingOperationsAfterMinorityInterest
0.3962 pure
CY2011 prim Common Stock Issued During Period Value Acquisition Two
CommonStockIssuedDuringPeriodValueAcquisitionTwo
14800000 USD
CY2011 prim Stock Issued During Period Value Issued To Employees And Directors
StockIssuedDuringPeriodValueIssuedToEmployeesAndDirectors
988000 USD
CY2012Q4 us-gaap Multiemployer Plans Withdrawal Obligation
MultiemployerPlansWithdrawalObligation
7500000 USD
CY2012 prim Stock Issued During Period Value Issued To Employees And Directors
StockIssuedDuringPeriodValueIssuedToEmployeesAndDirectors
2173000 USD
CY2010 us-gaap Cash Provided By Used In Operating Activities Discontinued Operations
CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations
-874000 USD
CY2012 prim Percentage Of Labor Force Subject To Collective Bargaining
PercentageOfLaborForceSubjectToCollectiveBargaining
0.37 pure
CY2009Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
344000 USD
CY2011Q4 us-gaap Multiemployer Plans Withdrawal Obligation
MultiemployerPlansWithdrawalObligation
7500000 USD
CY2012Q4 prim Number Of Acquistions
NumberOfAcquistions
4 item

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