Pernix Group Inc is looking forward to continue to grow organically and through acquisition in both operating segments of our business. Pernix Group more than doubled its consolidated revenue from continuing operations, generating $120 million of consolidated revenue in 2012, as compared to $58 million in 2011. Nidal Zayed, President and Chief Executive Officer of Pernix Group said, "While a portion of our cash build-up is related to short-term working capital dynamics, we nonetheless have significant improvement in available liquidity with minimal debt outstanding.

Our strong balance sheet should enable us to continue to make substantial investments in our business development and operations teams, building upon recent investments that have paid off in the form of new contract awards and improved profitability. We will continue to invest in a targeted manner to take advantage of opportunities to grow organically and through acquisition in both operating segments of our business. Significant investments in the past nine months include adding 30-year power industry veteran Michael Frye to lead our power group, establishing a regional development office in Dubai, and the addition of Don Gunther, former Vice Chairman of Bechtel, to our board of directors."