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U.S. LABORATORIES INC. San Diego, California Government Contracts Equal Steady Business.(THE NEW AMERICA)
Byline: MARILYN ALVA
The slowdown in commercial construction might concern a lot of execs at engineering inspection companies. But it doesn't bother Dickerson Wright.
His firm continues to log double-digit revenue and earnings gains as it tends to focus on government, rather than commercial, work.
"Now you know why we want to be in the (government) sector," he said.
Wright is chief executive of U.S. Laboratories Inc., which provides quality-control services to the construction industry.
It's long focused on less-cyclical public works projects related to highways, schools and water and sewer facilities, rather than private-sector jobs.
Last year, U.S. Labs' revenue rose 48% from the prior year to $52 million. Net income rose 60% to $2.7 million. Per-share earnings grew a more modest 7% as the outstanding share count climbed 39%.
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