ConDig (09-May-17). Profit at construction and infrastructure company Primoris Services Corp more than doubled in the first quarter of this year on a 30% surge in revenue.

The Dallas, Texas-based company posted net income of $7.7 million in the quarter ended March 31 compared with $2.7 million in the same period last year.

It comes as revenue increased to a first quarter record of $561.5 million from $430.4 million in the first quarter of last year.

The boost in revenue was predominately driven by a solid performance in the company’s pipeline and underground division, which helped offset the traditional slow start to the year in the utilities and distribution division due to weather-related issues.

Total backlog at the company was reported as $2.8 billion, which was 28% up on the year-ago period.

“We experienced an increase in earnings in our power, industrial and engineering segment and expect that the power market will continue to improve over the course of the year, with the continued low cost of natural gas a key driver for the pipeline, power, and industrial markets,” said David King, Primoris president and chief executive officer.

“We continue to be very active in looking for the right acquisition and are beginning to see opportunities to buy the right company at the right price.”

In April, Primoris halted plans to sell its Texas Heavy Civil division, and King said that the company expects profits to improve by the end of this year despite a tough first quarter.