Pernix Group Inc. reported unaudited earnings results for the second quarter ended June 30, 2013. For the quarter, the company generated consolidated revenue from continuing operations of $17.7 million, as compared to $23.9 million in the comparable period of 2012. While revenue was lower, the company experienced significant improvement in gross profit and net income, reflecting improved results in the power generation segment and the positive impact of the 2012 sale of two discontinued businesses.

The 2013 decline in revenue was primarily attributable to the completion of a large construction project in late 2012 and customer-driven delays in construction activities under the Company's current contracts with the US government. Operating income from continuing operations was essentially flat as compared to the comparable period last year, as the increase in gross profit was offset by increases in both salary expense and general and administrative expense as a result of investment in business development professionals and the related recruiting expenses in connection with its strategic growth objectives. Net income from continuing operations after minority interest declined by $0.2 million to $0.7 million or $0.07 basic earnings per share, due to small increases in other expense and income tax expense, as compared to consolidated net income from continuing operations after minority interest of $0.9 million or $0.09 basic earnings per share in the second quarter of 2012.