matrix service co (MTRX) Key Developments
Matrix Service Company Presents at Credit Suisse Under Followed Opportunities Conference, Mar-10-2015
Mar 7 15
Matrix Service Company Presents at Credit Suisse Under Followed Opportunities Conference, Mar-10-2015 . Venue: One Federal Street, 18th Floor, Boston, MA 02110, United States.
Matrix Service Company Presents at Sidoti & Company, LLC's 19th Annual Emerging Growth Research Institutional Investor Forum, Mar-16-2015
Feb 26 15
Matrix Service Company Presents at Sidoti & Company, LLC's 19th Annual Emerging Growth Research Institutional Investor Forum, Mar-16-2015 . Venue: The Grand Hyatt Hotel, 109 E 42nd St., New York, NY 10017, United States.
Matrix Service Company Completes Consolidation of its Union Operations
Feb 17 15
Matrix Service Company announced that it has consolidated its union subsidiaries, Matrix North American Construction and Matrix SME into one company. The new entity will operate as Matrix North American Construction. The combined organization brings together substantial expertise in large capital construction as well as maintenance and repair services in power generation, power delivery, storage solutions, oil and gas and chemical, as well as a position as a premier contractor in the iron and steel industry. The new organization will be managed under a unified leadership team that will report directly to Jason W. Turner, who serves as President.
Matrix Wins Contract from TransCanada to Construct NGS in Ontario
Feb 11 15
Matrix North American Construction Ltd. has won a contract from TransCanada Energy Ltd. for the construction of the Napanee Generating Station, or NGS, a new 900MW combined cycle gas-fuelled power generation station in Greater Napanee, eastern Ontario.
Matrix Service Company Reports Consolidated Earnings Results for the Second Quarter and Six Months Ended December 31, 2014; Revises Earnings Guidance for the Full Year of 2015
Feb 4 15
Matrix Service Company reported consolidated earnings results for the second quarter and six months ended December 31, 2014. For the quarter, the company reported revenues of $342.880 million compared to $310.998 million a year ago. Operating loss was $3.671 million against operating income of $14.817 million a year ago. Loss before income tax expense was $3.691 million against income before income tax expense of $14.406 million a year ago. Net income attributable to the company was $3.286 million compared to $10.306 million a year ago. Diluted earnings per share were $0.12 compared to $0.38 in the same period a year earlier. The quarter was negatively impacted by a charge on an acquired EPC joint venture project in the Electrical Infrastructure segment.
For the six months, the company reported revenues of $664.563 million compared to $537.215 million a year ago. Operating income was $4.876 million against $25.579 million a year ago. Income before income tax expense was $4.603 million against $24.862 million a year ago. Net income attributable to the company was $9.200 million compared to $16.858 million a year ago. Diluted earnings per share were $0.34 compared to $0.63 in the same period a year earlier. Acquisition of property, plant and equipment was $7.711 million against $11.965 million a year ago. Net cash provided by operating activities was $5.378 million against $50.464 million a year ago.
The company is maintaining its fiscal 2015 revenue guidance of between $1.425 billion and $1.525 billion and lowering earnings per fully diluted share guidance to between $1.10 and $1.25. The company expects effective tax rate to return to approximately 38% for the remainder of the year. Fiscal 2015 gross margins were reduced by 4.4% to 6.7% as a result of the $26.2 million charge on the acquired EPC joint venture power generation project discussed earlier.