Holder is one contractor that has started to carve a niche in this technology-related building sector. Riddle thinks data centers will remain strong for the foreseeable future.

But Riddle echoes other Atlanta-area contractors when he says, "Commercial building is virtually nonexistent."

LEATHERS

Pressure on pricing remains high. In North Carolina, competition remains extremely tough. "Most projects are going at cost, with no margins," says Blythe. He speculates that pressure on pricing may ease up a bit later this year.

Owners know contractors are desperate for work and are continuing to take advantage of the situation by shrinking the payment envelope, contractors say.

"We are seeing more clients have a take-it-or-leave-it stance with their contracts, including extended payment terms," Riddle says. "As these terms are pushed down to subcontractors, we're concerned about the situation worsening and causing [business] failures."

Only time will tell whether specialty contractors will be able to hang on until a broader Southeast market recovery can take hold, industry observers agree.

The Numbers

ENR Southeast's Top Contractors, like its other "Top" lists, ranks firms based on 2011 revenue from projects in Florida, Georgia and the Carolinas.

In addition to providing regional revenue, the main chart includes information about each firm's top markets, regional leaders and major projects started during the previous year. A series of breakout rankings follows the main chart.