##### 



United States Securities and Exchange Commission
 Washington, D.C. 20549
 FORM 10-Q
 (Mark One)
 þ
    
    QUARTERLY REPORT PURSUANT TO SECTION 13 OR
15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
 FOR THE QUARTERLY PERIOD ENDED DECEMBER 31, 2006
 OR
 o
    
    TRANSITION REPORT PURSUANT TO SECTION 13
OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
 
 COMMISSION FILE NUMBER 001-32582
 PIKE ELECTRIC CORPORATION
 (Exact name of registrant as specified in its charter)
 Delaware
    
    20-3112047(State of incorporation)
    
    (I.R.S. Employer Identification No.)
 100 Pike Way, PO Box 868, Mount Airy, NC 27030  (Address of principal executive office)
 (336) 789-2171
 (Registrants telephone number, including area code)
 þ o
  o o þ
 o þ




---



##### 



PIKE ELECTRIC CORPORATION
FORM 10-Q
FOR THE THREE AND SIX MONTHS ENDED DECEMBER 31, 2006
 INDEX
 Part I. FINANCIAL INFORMATIONItem 1.
    
    Financial Statements (unaudited):Condensed consolidated balance sheets
    
    
    1Condensed consolidated statements of operations
    
    
    2Condensed consolidated statements of cash flows
    
    
    3Notes to condensed consolidated financial statements
    
    
    4Item 2.
    
    Managements Discussion and Analysis of Financial Condition and Results of Operations
    
    
    8Item 3.
    
    Quantitative and Qualitative Disclosures about Market Risk
    
    
    17Item 4.
    
    Controls and Procedures
    
    
    17Part II. OTHER INFORMATIONItem 1.
    
    Legal Proceedings
    
    
    18Item 1A.
    
    Risk Factors
    
    
    18Item 4.
    
    Submission of Matters to a Vote of Security Holders
    
    
    18Item 6.
    
    Exhibits
    
    
    19Signatures
    
    
    
    
    20




---



##### 



PART I  FINANCIAL INFORMATION
 Item 1. Financial Statements
 PIKE ELECTRIC CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands, except per share amount)
 December 31,
    
    
    June 30,2006
    
    
    2006(Unaudited)ASSETSCurrent assets:Cash and cash equivalents
    
    $
    4,752
    
    
    $
    3,391Accounts receivable, net
    
    
    62,751
    
    
    
    66,629Work completed not billed
    
    
    47,138
    
    
    
    56,430Inventories
    
    
    8,017
    
    
    
    8,041Prepaid expenses and other
    
    
    6,941
    
    
    
    5,928Deferred income taxes
    
    
    10,605
    
    
    
    12,460Total current assets
    
    
    140,204
    
    
    
    152,879Property and equipment, net
    
    
    287,724
    
    
    
    284,452Goodwill
    
    
    94,402
    
    
    
    94,402Other intangibles, net
    
    
    44,754
    
    
    
    49,978Deferred loan costs, net
    
    
    5,807
    
    
    
    6,265Other assets
    
    
    1,794
    
    
    
    1,990Total assets
    
    $
    574,685
    
    
    $
    589,966LIABILITIES AND STOCKHOLDERS EQUITYCurrent liabilities:Accounts payable
    
    $
    8,821
    
    
    $
    9,706Accrued compensation
    
    
    18,999
    
    
    
    24,954Accrued expenses and other
    
    
    8,305
    
    
    
    5,243Current portion of deferred compensation
    
    
    2,415
    
    
    
    10,614Current portion of insurance and claim accruals
    
    
    25,748
    
    
    
    18,867Revolving credit facility
    
    
    
    
    
    
    4,500Total current liabilities
    
    
    64,288
    
    
    
    73,884Long-term debt, net of current portion
    
    
    236,500
    
    
    
    249,000Insurance and claim accruals, net of current portion
    
    
    12,173
    
    
    
    13,439Deferred compensation, net of current portion
    
    
    9,994
    
    
    
    10,378Deferred income taxes
    
    
    69,942
    
    
    
    72,333Other liabilities
    
    
    159
    
    
    
    200Commitments and contingenciesStockholders equity:Preferred stock, par value $0.001 per share; 100,000 authorized shares; no shares
issued and outstanding at December 31, 2006 and June 30, 2006, respectively
    
    
    
    
    
    
    Common stock, par value $0.001 per share; 100,000 authorized shares; 32,805 and
32,577 shares issued and outstanding at December 31, 2006 and June 30, 2006,
respectively
    
    
    6,426
    
    
    
    6,426Additional paid-in capital
    
    
    140,244
    
    
    
    135,869Accumulated other comprehensive income (loss)
    
    
    (300
    )
    
    
    Retained earnings
    
    
    35,259
    
    
    
    28,437Total stockholders equity
    
    
    181,629
    
    
    
    170,732Total liabilities and stockholders equity
    
    $
    574,685
    
    
    $
    589,966
  1




---



##### 



PIKE ELECTRIC CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
(In thousands, except per share amounts)
 Three Months Ended
    
    
    Six Months EndedDecember 31,
    
    
    December 31,2006
    
    
    2005
    
    
    2006
    
    
    2005Revenues
    
    $
    148,369
    
    
    $
    195,725
    
    
    $
    298,224
    
    
    $
    414,156Cost of operations
    
    
    123,857
    
    
    
    156,291
    
    
    
    253,972
    
    
    
    326,067Gross profit
    
    
    24,512
    
    
    
    39,434
    
    
    
    44,252
    
    
    
    88,089General and administrative expenses
    
    
    10,722
    
    
    
    11,084
    
    
    
    22,278
    
    
    
    22,149Loss on sale of property and equipment
    
    
    131
    
    
    
    204
    
    
    
    498
    
    
    
    349Income from operations
    
    
    13,659
    
    
    
    28,146
    
    
    
    21,476
    
    
    
    65,591Other expense (income):Interest expense
    
    
    5,045
    
    
    
    5,705
    
    
    
    10,223
    
    
    
    13,853Other, net
    
    
    (58
    )
    
    
    (84
    )
    
    
    (116
    )
    
    
    (105
    )Total other expense
    
    
    4,987
    
    
    
    5,621
    
    
    
    10,107
    
    
    
    13,748Income before income taxes
    
    
    8,672
    
    
    
    22,525
    
    
    
    11,369
    
    
    
    51,843Income tax expense
    
    
    3,452
    
    
    
    8,954
    
    
    
    4,547
    
    
    
    20,757Net income
    
    $
    5,220
    
    
    $
    13,571
    
    
    $
    6,822
    
    
    $
    31,086Earnings per share:Basic
    
    $
    0.16
    
    
    $
    0.43
    
    
    $
    0.21
    
    
    $
    1.03Diluted
    
    $
    0.16
    
    
    $
    0.41
    
    
    $
    0.21
    
    
    $
    0.99Shares used in computing earnings per share:Basic
    
    
    32,353
    
    
    
    31,833
    
    
    
    32,288
    
    
    
    30,314Diluted
    
    
    33,242
    
    
    
    33,025
    
    
    
    33,233
    
    
    
    31,488
  2




---



##### 



PIKE ELECTRIC CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
(In thousands)
 Six Months EndedDecember 31,2006
    
    
    2005Cash flows from operating activities:Net income
    
    $
    6,822
    
    
    $
    31,086Adjustments to reconcile net income to net cash provided by operating activities:Depreciation and amortization
    
    
    19,485
    
    
    
    18,828Non-compete litigation settlement
    
    
    3,551
    
    
    
    Non-cash interest expense
    
    
    1,465
    
    
    
    3,211Deferred income taxes
    
    
    (536
    )
    
    
    (2,317
    )Loss on sale of property and equipment
    
    
    498
    
    
    
    349Equity compensation expense
    
    
    1,085
    
    
    
    1,471Changes in operating assets and liabilities:Accounts receivable and work completed not billed
    
    
    13,170
    
    
    
    (49,963
    )Inventories, prepaid expenses and other
    
    
    (327
    )
    
    
    5,844Insurance and claim accruals
    
    
    5,615
    
    
    
    6,249Accounts payable and other
    
    
    (4,118
    )
    
    
    373Deferred compensation
    
    
    (9,428
    )
    
    
    (7,343
    )Net cash provided by operating activities
    
    
    37,282
    
    
    
    7,788Cash flows from investing activities:Purchases of property and equipment
    
    
    (25,997
    )
    
    
    (24,935
    )Net proceeds from sale of property and equipment
    
    
    3,949
    
    
    
    1,522Net cash used in investing activities
    
    
    (22,048
    )
    
    
    (23,413
    )Cash flows from financing activities:Principal payments on long-term debt
    
    
    (12,500
    )
    
    
    (121,950
    )(Payments) borrowings on revolving credit facility, net
    
    
    (4,500
    )
    
    
    9,000Net proceeds from sale of common stock
    
    
    2,350
    
    
    
    126,740Equity compensation tax benefit
    
    
    939
    
    
    
    1,198Deferred loan costs
    
    
    (162
    )
    
    
    (655
    )Net cash (used in) provided by financing activities
    
    
    (13,873
    )
    
    
    14,333Net increase (decrease) in cash and cash equivalents
    
    
    1,361
    
    
    
    (1,292
    )Cash and cash equivalents beginning of year
    
    
    3,391
    
    
    
    3,106Cash and cash equivalents end of period
    
    $
    4,752
    
    
    $
    1,814
  3




---



##### 



PIKE ELECTRIC CORPORATION AND SUBSIDIARIES
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
For the three and six months ended December 31, 2006 and 2005
(In thousands, except per share amounts)
 1. Basis of Presentation
  2. Business
    Three Months Ended
    
    
    Six Months EndedDecember 31,
    
    
    December 31,2006
    
    
    2005
    
    
    2006
    
    
    2005Powerline services
    
    $
    134,310
    
    
    
    90.5
    %
    
    $
    124,465
    
    
    
    63.6
    %
    
    $
    271,878
    
    
    
    91.2
    %
    
    $
    248,014
    
    
    
    59.9
    %Storm restoration services
    
    
    14,059
    
    
    
    9.5
    %
    
    
    71,260
    
    
    
    36.4
    %
    
    
    26,346
    
    
    
    8.8
    %
    
    
    166,142
    
    
    
    40.1
    %Total
    
    $
    148,369
    
    
    
    100.0
    %
    
    $
    195,725
    
    
    
    100.0
    %
    
    $
    298,224
    
    
    
    100.0
    %
    
    $
    414,156
    
    
    
    100.0
    %
 3. Stock-Based Compensation
  4




---



##### 



.
 4. Earnings Per Share
  Three Months Ended
    
    
    Six Months EndedDecember 31,
    
    
    December 31,2006
    
    
    2005
    
    
    2006
    
    
    2005Net income (numerator)
    
    $
    5,220
    
    
    $
    13,571
    
    
    $
    6,822
    
    
    $
    31,086Weighted-average number of common shares
(denominator)
    
    
    32,353
    
    
    
    31,833
    
    
    
    32,288
    
    
    
    30,314Basic earnings per share
    
    $
    0.16
    
    
    $
    0.43
    
    
    $
    0.21
    
    
    $
    1.03Weighted-average number of common shares
    
    
    32,353
    
    
    
    31,833
    
    
    
    32,288
    
    
    
    30,314Potential common shares arising from stock
options and restricted stock
    
    
    889
    
    
    
    1,192
    
    
    
    945
    
    
    
    1,174Total shares-diluted (denominator)
    
    
    33,242
    
    
    
    33,025
    
    
    
    33,233
    
    
    
    31,488Diluted earnings per share
    
    $
    0.16
    
    
    $
    0.41
    
    
    $
    0.21
    
    
    $
    0.99
  Three months ended
    
    Six months endedDecember 31,
    
    December 31,2006
    
    2005
    
    2006
    
    2005Common stock options
    
    
    1,120
    
    
    
    966
    
    
    
    1,061
    
    
    
    831Shares of restricted stock
    
    
    9
    
    
    
    7
    
    
    
    7
    
    
    
    4
 5. Income Taxes
  6. Comprehensive Income
  5




---



##### 



7. Property and Equipment
  8. Commitments and Contingencies
 Litigation
    6




---



##### 



Performance Bonds
  7




---



##### 



Item 2. Managements Discussion and Analysis of Financial Condition and Results of Operations
  Introduction
     Three Months Ended
    
    
    Six Months EndedDecember 31,
    
    
    December 31,2006
    
    
    2005
    
    
    2006
    
    
    2005Powerline services
    
    $
    134.3
    
    
    
    90.5
    %
    
    $
    124.5
    
    
    
    63.6
    %
    
    $
    271.9
    
    
    
    91.2
    %
    
    $
    248.0
    
    
    
    59.9
    %Storm restoration services
    
    
    14.1
    
    
    
    9.5
    %
    
    
    71.2
    
    
    
    36.4
    %
    
    
    26.3
    
    
    
    8.8
    %
    
    
    166.2
    
    
    
    40.1
    %Total
    
    $
    148.4
    
    
    
    100.0
    %
    
    $
    195.7
    
    
    
    100.0
    %
    
    $
    298.2
    
    
    
    100.0
    %
    
    $
    414.2
    
    
    
    100.0
    %
 8




---



##### 



Critical Accounting Policies
  Operational and Other Factors
  
    
    When we add new customers and arrangements, we generally experience an increase in
costs, including the costs of training and outfitting our crews and spending on equipment
and specialized tools and supplies. Once the crews and equipment are fully utilized, our
margins generally increase over the life of the arrangement.
    
    The significant storm activity during our two most recently completed fiscal years has
had a significant financial impact on several of our customers. As a result, they may
defer certain powerline maintenance projects, which would affect our powerline revenues.
    
    Industry-wide insurance costs for workers compensation, medical and general liability
have risen in the past several years and are expected to continue to rise at a rate faster
than our revenues. We have implemented several safety initiatives designed to reduce
incident rates and corresponding insurance costs as well as introduced an employee safety
bonus in fiscal 2005.
    
    There are a limited number of skilled workers who can perform our work, and during
historic periods of increased demand, labor costs have tended to increase. We are
currently experiencing shortages of skilled personnel in certain markets. While shortages
have caused our labor costs to increase, we historically have been able to obtain increases
when we renegotiate rates with our customers to offset these cost increases.
    
    Our general and administrative expenses will include additional implementation costs
relating to compliance with Section 404 of the Sarbanes-Oxley Act of 2002 and will range
from $1.5 million to $2.5 million in fiscal 2007 compared to approximately $0.7 million in
fiscal 2006.
    
    Fuel costs could rise at a rate faster than our revenues. We have a large fleet of
vehicles and equipment that primarily use diesel fuel. We have implemented bulk purchasing
in certain areas to lower our fuel costs. In addition, we have entered into two diesel
fuel swaps that cover, based on current volumes, approximately 30% of our diesel
requirements for the period from January 2007 through February 2008.
 
 9




---



##### 



Results of Operations
  Three Months
    
    
    Six Months EndedEnded December 31,
    
    
    December 31,2006
    
    
    2005
    
    
    2006
    
    
    2005Revenues:Powerline services
    
    
    90.5
    %
    
    
    63.6
    %
    
    
    91.2
    %
    
    
    59.9
    %Storm restoration services
    
    
    9.5
    
    
    
    36.4
    
    
    
    8.8
    
    
    
    40.1Total
    
    
    100.0
    %
    
    
    100.0
    %
    
    
    100.0
    %
    
    
    100.0
    %Cost of operations
    
    
    83.5
    
    
    
    79.9
    
    
    
    85.2
    
    
    
    78.7Gross profit
    
    
    16.5
    
    
    
    20.1
    
    
    
    14.8
    
    
    
    21.3General and administrative expenses
    
    
    7.2
    
    
    
    5.7
    
    
    
    7.5
    
    
    
    5.4Other operating expense, net
    
    
    0.1
    
    
    
    0.0
    
    
    
    0.1
    
    
    
    0.1Income from operations
    
    
    9.2
    
    
    
    14.4
    
    
    
    7.2
    
    
    
    15.8Interest expense, net
    
    
    3.4
    
    
    
    2.9
    
    
    
    3.4
    
    
    
    3.3Income before income tax
    
    
    5.8
    
    
    
    11.5
    
    
    
    3.8
    
    
    
    12.5Income tax expense
    
    
    2.3
    
    
    
    4.6
    
    
    
    1.5
    
    
    
    5.0Net income
    
    
    3.5
    %
    
    
    6.9
    %
    
    
    2.3
    %
    
    
    7.5
    %
 Three Months Ended December 31, 2006 Compared to Three Months Ended December 31, 2005
 Revenues.
    Gross Profit.
 10




---



##### 



General and Administrative Expenses.
 Loss on Sale of Property and Equipment .
 Interest Expense and Other, Net.
 Income Tax Expense.
 Net Income.
 Six Months Ended December 31, 2006 Compared to the Six Months Ended December 31, 2005
 Revenues.
    11




---



##### 



Gross Profit.
 General and Administrative Expenses.
 Loss on Sale of Property and Equipment .
 Interest Expense and Other, Net.
 Income Tax Expense.
 Net Income .
 Liquidity and Capital Resources
     12




---



##### 



Changes in Cash Flows:
 Six Months EndedDecember 31,2006
    
    2005(in millions)Net cash provided by operating activities
    
    $
    37.3
    
    
    $
    7.8Net cash used in investing activities
    
    $
    (22.0
    )
    
    $
    (23.4
    )Net cash (used in) provided by financing activities
    
    $
    (13.9
    )
    
    $
    14.3
    Senior Credit Facility
    Off-Balance Sheet Arrangements
  13




---



##### 



Seasonality; Fluctuations of Results
  Inflation
  Recent Accounting Pronouncements
 Accounting for Uncertainty in Income Taxes Accounting for Income Taxes
 Fair Value Measurements
  14




---



##### 



Employers Accounting for Defined Benefit
Pension and Other Postretirement Plans
 Uncertainty of Forward-Looking Statements and Information
  
    
    our belief that the lawsuits, claims or other proceedings to which we are subject in the
ordinary course of business will not have a material adverse effect on the Companys
results of operation or financial position;
    
    our expectation that our general and administrative expenses will include additional
implementation costs relating to compliance with Section 404 of the Sarbanes-Oxley Act of
2002 and will range from $1.5 million to $2.5 million in fiscal 2007 compared to
approximately $0.7 million in fiscal 2006; and
    
    our belief that our cash flow from operations, available cash and cash equivalents, and
borrowings available under our senior credit facility will be adequate to meet our ordinary
course liquidity needs for the foreseeable future.
  
    
    We derive a significant portion of our revenues from a small group of customers. The
loss of one or more of these customers could negatively impact our business and results of
operations.
    
    Our customers often have no obligation to assign work to us, and many of our
arrangements may be terminated on short notice. As a result, we are at risk of losing
significant business on short notice. This risk may be accentuated for customers we
obtained in the Red Simpson acquisition.
    
    Our storm restoration services are highly volatile and unpredictable, which could result
in substantial variations in, and uncertainties regarding, the levels of our financial
results from period to period.
    
    Our business is subject to numerous hazards that could subject us to substantial
monetary and other liabilities. If accidents occur, they could materially and adversely
affect our business and results of operations.
    
    Our current insurance coverage may not be adequate, and we may not be able to obtain
insurance at acceptable rates, or at all.
    
    Record high fuel costs could materially and adversely affect our operating results.
    
    Demand for some of our services is cyclical and vulnerable to industry and economic
downturns, which could materially and adversely affect our business and results of
operations.
 15




---



##### 




    
    The Energy Policy Act may fail to result in increased spending in the electric power
transmission infrastructure, which could slow our expected growth.
    
    Failure to establish and maintain effective internal control over financial reporting
could have a material adverse effect on our business, operating results and stock price.
We may identify significant deficiencies or material weaknesses in our internal controls
during our testing of such in connection with our future compliance obligations under
Section 404 of the Sarbanes-Oxley Act of 2002.
    
    To be successful, we need to attract and retain qualified personnel, and any inability
to do so would adversely affect our business.
    
    We are dependent on our senior management and other key personnel, the loss of which
could have a material adverse effect on our business.
    
    Our industry is highly competitive and we may be unable to compete effectively, retain
our customers or win new customers, which could result in reduced profitability and loss of
market share.
    
    We may be unsuccessful at acquiring companies or at integrating companies that we may
acquire, and as a result, we may not achieve the expected benefits and our profitability
could materially suffer.
    
    We have a substantial amount of indebtedness incurred under a senior credit facility,
which may restrict our business and operations, adversely affect our cash flow, and
restrict our future access to sufficient funding to finance desired growth.
    
    We are in the process of implementing certain financial and accounting applications and
investigating a company-wide ERP system which could temporarily disrupt our day-to-day
operations.
    
    During the ordinary course of our business, we may become subject to lawsuits or
indemnity claims, which could materially and adversely affect our business and results of
operations.
    
    Our failure to comply with, or the imposition of liability under, environmental laws and
regulations could result in significant costs.
    
    The electric infrastructure servicing business is subject to seasonal variations, which
may cause our operating results to vary significantly from period to period and could cause
the market price of our stock to fall.
    
    Weather conditions can adversely affect our operations and revenues.
    
    We have incurred and will continue to incur increased costs as a result of being a public company.
    
    Our results of operations could be adversely affected as a result of the impairment of
goodwill or other intangibles.
    
    The market price of our stock may be influenced by many factors, some of which are
beyond our control.
    
    Shares eligible for future sale may cause the market price of our common stock to drop
significantly, even if our business is doing well.
    
    A significant stockholder controls the direction of our business. The concentrated
ownership of our common stock will prevent other stockholders from influencing significant
corporate decisions.
    
    Anti-takeover provisions of our charter and bylaws may reduce the likelihood of any
potential change of control or unsolicited acquisition proposal that stockholders might
consider favorable.
 16




---



##### 



Item 3. Quantitative and Qualitative Disclosures About Market Risk
  Item 4. Controls and Procedures
   17




---



##### 



PART II  OTHER INFORMATION
 Item 1. Legal Proceedings
    Item 1A. Risk Factors
  Item 4. Submission of Matters to a Vote of Security Holders
   Nominee
    
    For
    
    WithheldJ. Eric Pike
    
    
    31,078,921
    
    
    
    311,830Charles W. Bayless
    
    
    30,856,090
    
    
    
    534,661James R. Helvey, III
    
    
    30,855,613
    
    
    
    535,138Robert D. Lindsay
    
    
    30,708,569
    
    
    
    682,182Louis F. Terhar
    
    
    30,854,709
    
    
    
    536,042
  18




---



##### 



Item 6. Exhibits
 Exhibit
    
    Description10.1
    
    Employment Agreement, dated October 10, 2006, by and between James
R. Fox, Pike Electric, Inc. and Pike Electric Corporation
(Incorporated by reference to Exhibit 10.1 on our Form 8-K filed
October 10, 2006)10.2
    
    Employment Agreement, dated October 10, 2006, by and between
Anthony K. Slater, Pike Electric, Inc. and Pike Electric
Corporation (Incorporated by reference to Exhibit 10.2 on our
Form 8-K filed October 10, 2006)10.3
    
    Employment Agreement, dated November 20, 2006, by and between
Audie Simmons, Pike Electric, Inc. and Pike Electric Corporation
(Incorporated by reference to Exhibit 10.1 on our Form 8-K filed
November 27, 2006)10.4
    
    Employment Agreement, dated November 20, 2006, by and between Mark
P. Thomson, Pike Electric, Inc. and Pike Electric Corporation
(Incorporated by reference to Exhibit 10.1 on our Form 8-K filed
November 30, 2006)10.5
    
    Fifth Amendment to the Amended and Restated Credit Agreement,
dated as of December 9, 2005, among Pike Holdings. Inc., Pike
Electric, Inc. and the lenders party thereto (Incorporated by
reference to Exhibit 10.1 on our Form 8-K filed November 16, 2006)31.1
    
    Certification of Periodic Report by Chief Executive Officer
pursuant to Rule 13a-14(a)/15d-14a and pursuant to Section 302 of
the Sarbanes-Oxley Act of 2002 (filed herewith)31.2
    
    Certification of Periodic Report by Chief Financial Officer
pursuant to Rule 13a-14(a)/15d-14a and pursuant to Section 302 of
the Sarbanes-Oxley Act of 2002 (filed herewith)32.1
    
    Certification of Periodic Report by Chief Executive Officer and
Chief Financial Officer pursuant to U.S.C. Section 1350, as
adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
(filed herewith)
 19




---



##### 



SIGNATURES
  PIKE ELECTRIC CORPORATION 
(Registrant)Date: February 9, 2007
    By:
    /s/ J. Eric PikeJ. Eric PikeChairman, Chief Executive Officer and PresidentDate: February 9, 2007
    By:
    /s/ Anthony K. SlaterAnthony K. SlaterChief Financial Officer 
 20