ATLANTA, Ga., May 11, 2007 (PRIME NEWSWIRE) -- OTC Stock Review announces that it has initiated coverage of Charys Holding Company, Inc. (OTCBB:CHYS).
Charys Holding Company, Inc., headquartered in Atlanta, GA, is growing fast by acquiring companies in the restoration, reconstruction, and telecommunications infrastructure services markets.
For the nine months ending January 31, 2007 CHYS posted an increase in net revenue of 73%. Revenues were $57 million, up from the $33 million it posted for the nine months ending January 31, 2006. In our opinion, we think the fourth quarter could be equally as impressive. CHYS provides infrastructure services to several fast-growing markets, including emergency planning and coordination, response to catastrophic losses, reconstruction and restoration and environmental remediation. CHYS also has a wireless communications and data infrastructure business that provides services including engineering, program management, construction, installation and maintenance, tower services, radio and advanced technology implementation and integration services to large service providers and other business enterprises.
CHYS has completed eleven acquisitions and its CEO has a track record of successfully leading and growing public holding companies. CHYS has also assembled a truly independent Board of Directors consisting of senior executives from a diverse set of industries and experiences. In fact, six weeks ago CHYS announced that Michael D. Brown, former Under Secretary of U.S. Homeland Security, was joining its Board. In addition to playing a meaningful role in CHYS's governance and corporate oversight, Mr. Brown should prove to be a highly valuable new business development resource. On the technology side, board member Dennis Hayes is best known for inventing the computer modem. As the founder, Chairman, President and CEO of Hayes Microcomputer Products, Inc., he grew the company into a global corporation with revenues in excess of $240 million, and in excess of 1,500 employees. Another board member, David Gergacz, was previously COO and President of Network Systems at Sprint, and was responsible for designing its network. He has also been CEO of Cincinnati Bell Telephone, Rogers Cantel (Canada's largest wireless communications company, Boston Technology (now Comverse), and Vice Chairman of Unitel, (now AT&T Canada). We think that's a lot of muscle for the board of a $2.25 stock.
CHYS has a highly scalable business model. By using subcontractors in its disaster remediation business, the potential is there to quickly ramp up its operations without building fixed overhead, and adjust it when business slows. This is smart business since it offers significant upside potential with little additional capital outlay. As a result, CHYS offers, in our opinion, one of the largest national disaster platforms in a fragmented $100 billion market. In the event of a natural disaster, most insurance stocks get hit by a wave of selling as investors fear earnings will be impacted by losses. CHYS could be seen as a potential hedge against systematic portfolio risk, especially for insurance holdings. On the technology side of CHYS's business, after a prolonged period of limited investment, there is a current need to upgrade the IT and physical infrastructure of corporate America. At the same time these businesses are under constant market pressure to reduce operating costs to stay competitive -- leading to increasing usage of outsourced services and the implementation of new technologies.
The complete report is available at http://www.otcstockreview.com/Files/CHYS/CHYS_Review.pdf.
About Charys Holding Company, Inc.
Headquartered in Atlanta, Georgia, Charys is a publicly traded company providing infrastructure services in two primary markets. In the restoration and reconstruction markets, Charys services include emergency planning and coordination, response to catastrophic losses, reconstruction and restoration and environmental restoration. In the wireless communications and data infrastructure markets, Charys provides an array of services including engineering, program management, construction, installation and maintenance, tower services, radio and advanced technology implementation and integration services to large service providers and other business enterprises.
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