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Comfort Systems USA Announces the Sale of Two of Its Operations.


HOUSTON -- Comfort Systems USA, Inc. (NYSE NYSE

See: New York Stock Exchange
:FIX), a leading provider of commercial/industrial heating, ventilation and air conditioning ("HVAC (Heating Ventilation Air Conditioning) In the home or small office with a handful of computers, HVAC is more for human comfort than the machines. In large datacenters, a humidity-free room with a steady, cool temperature is essential for the trouble-free ") services, today announced that it has sold two of its operations to Automated Logic Corporation Automated Logic Corporation is located in Kennesaw, Georgia, and manufactures building automation systems. Several of its technological innovations include: EIKON, a uniquely powerful, universal programming tool; SuperVision, a Graphical User Interface (GUI); , a unit of United Technologies Corporation (NYSE:UTX UTX United Technologies Corporation (stock abbreviation, AMEX)
UTX Unreal Texture (a texture pack for Unreal-engine games)
UTX Unit Training Exercise
UTX Under Track Crossing
) ("ALC (Assembly Language Coding) A generic term for IBM mainframe assembly languages.

1. ALC - Assembly Language Compiler.
2. ALC - Airline Line Control.
"). The two operations that were sold are Automated Logic dealers located in Texas and Minnesota. These operations posted 2004 revenues of approximately $20.9 million and revenues during the first nine months of 2005 of $17.4 million, and contributed $2.1 million of operating income Operating Income

The profit realized from a business' own operations.

Notes:
This would not include income from things such as investments in other firms. Also referred to as operating profit or recurring profit.
 to Comfort Systems USA in 2004, or approximately $0.03 per diluted share, and $1.4 million of operating income during the first nine months of 2005, or approximately $0.02 per diluted share. The Company expects to report an after-tax estimated gain on the transaction during the fourth quarter of 2005 of approximately $9 million, or approximately $0.23 per diluted share, as discontinued operations Discontinued operations

Divisions of a business that have been sold or written off and that no longer are maintained by the business.
. The Company today filed a current report on Form 8-K Form 8-K

The form required by the SEC when a publicly held company incurs any event that might affect its financial situation or the share value of its stock.


Form 8-K

See 8-K.
 that provides detailed pro forma As a matter of form or for the sake of form. Used to describe accounting, financial, and other statements or conclusions based upon assumed or anticipated facts.

The phrase pro forma
 financial information for the Company giving effect to this transaction, and which also provides additional detail regarding the transaction.

Bill Murdy, Comfort Systems USA's Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , said, "The cash gain that we are realizing in connection with this transaction will further improve Comfort Systems USA's balance sheet, will enhance our financial flexibility, and will support our ongoing growth strategies. The units we are selling were strong performers for Comfort Systems, and we will miss the leadership that they provided. However, these were standalone building automation companies that represented the Automated Logic line of control products and services. While we retain a strong presence in building automation, including other companies that deliver Automated Logic solutions, our core strategy remains unchanged to have these capabilities integrated with our full service mechanical operations."

Bill Murdy continued, "We are parting with some top-notch people in both the Texas and Minnesota organizations and we sincerely thank them for their important contributions to Comfort Systems USA's success."

The Company will host a conference call to discuss the transaction in more depth on Thursday, January 5, 2006 at 11:00 a.m. Central Time. The call-in number for this conference call is 1-415-228-4939. A replay of the entire call will be available until 6:00 p.m. Central Time, Thursday, January 12, 2006 by calling 1-203-369-1241.

Comfort Systems USA(R) is a premier provider of business solutions addressing workplace comfort, with 54 locations in 48 cities around the nation. For more information, visit the Company's website at www.comfortsystemsusa.com.

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and  of 1995. These statements are based on the current plans and expectations of Comfort Systems USA, Inc. and involve risks and uncertainties that could cause actual future activities and results of operations to be materially different from those set forth in the forward-looking statements. Important factors that could cause actual results to differ include, among others, retention of key management, national and regional weakness in non-residential construction activity, difficulty in obtaining debt financing or bonding, shortages of labor and specialty building materials, seasonal fluctuations in the demand for HVAC systems and the use of incorrect estimates for bidding a fixed price contract and other risks detailed in the Company's reports filed with the Securities and Exchange Commission. These forward-looking statements speak only as of the date of this release. Comfort Systems USA, Inc. expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statement contained herein to reflect any change in Comfort Systems USA, Inc.'s expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.
COPYRIGHT 2006 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2006, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Geographic Code:1USA
Date:Jan 4, 2006
Words:621
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