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The results this quarter were favourably impacted by a pre-tax adjustment of USD1.6m recorded as a credit, associated to certain obligations in connected with the acquisition of Bayou that will not be paid, as a result of weak financial results at Bayou from weak energy markets and delays in pipeline development projects.
Insituform's consolidated revenues in the third quarter were USD201.9m, up 46.4% over the same quarter of 2008.
Third quarter 2009 revenues included revenues of USD15.2m and USD44.2m from The Bayou Companies LLC and Corrpro Companies Inc, respectively. Both companies were acquired in February 2009.
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