LOMBARD, Ill., June 7, 2013 (GLOBE NEWSWIRE) -- Pernix Group, Inc. (OTCBB:PRXG) was recognized for the second year in a row by Engineering News - Record (ENR) Magazine, a leading publication for the engineering and construction industry, as one of the top 50 U.S.-based contractors working abroad (as measured by revenue from construction projects outside of the US). Ranked at No. 38 for 2013 with $115 million of revenue, Pernix moved up nine places from 2012, when it recorded $49 million of revenue. Additionally, for the first time, Pernix also made ENR's prestigious Top 400 List, joining the ranks of the world's leading construction companies. Based on construction revenues derived both domestically and abroad, the Company ranked No. 397 in this year's Top 400.
Pernix Group President & CEO Nidal Zayed said: "We are pleased that we have been able to maintain our growth and break into this distinguished group of contractors. We believe that this recognition reflects our ability to consistently provide outstanding client service through the high quality work of our dedicated employees. We wish to thank our customers and partners for their ongoing confidence in Pernix, and we want to recognize our employees for their unwavering commitment to our core values: Safety, Customer Satisfaction, Reputation, Time, Performance, Leadership, and Agility.
"We also view this accomplishment as a natural result of our conservative growth strategy, which is built upon a solid foundation of experienced professionals, strong balance sheet, and proper systems and controls. Our expansion will be focused and measured, leveraging our strengths while managing operational and financial risk. We look forward to the continued expansion and diversification of our business across customer base, geography and business mix," he added.
About Pernix Group, Inc.
Pernix Group, Inc. is a global company with its headquarters in Lombard, Illinois. The Company is engaged in two primary operating business segments: construction services as a Design-Build General Contractor in the Federal and Government market; and building, managing and investing in Power Generation Projects as an Independent Power Producer. Pernix has full-scale construction and management capabilities, with operations in Africa, the Middle East, and the South Pacific. Pernix Group, Inc. common stock is traded on the over-the-counter bulletin board (OTCBB) under the symbol PRXG. Additional information is available at www.pernixgroup.com.
Certain of the statements made in this press release are forward-looking statements within the meaning of the Securities Litigation Reform Act of 1995. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Potential risks and other factors that could cause or contribute to actual results differing materially from such forward-looking statements are discussed in greater detail in the Company's filings with the U.S. Securities and Exchange Commission.
CONTACT: Gregg Pollack Chief Financial Officer & Vice President - Administration Pernix Group, Inc. Tel: (630) 620-4787 email@example.com Carol Groeber Corporate Controller and Principal Accounting Officer Pernix Group, Inc. Tel: (630) 620-4787 firstname.lastname@example.org Casey Stegman Director of Investor Relations Stonegate Securities Tel: (214) 987-4121 email@example.comSource:Pernix Group, Inc.