$MTRX (Matrix Service Company)

$MTRX {{ '2016-08-30T20:43:14+0000' | timeago}} • Announcement

On a segment basis, $MTRX's revenue for 4Q16 rose $31.6MM and $2.1MM in the Storage Solutions and Electrical Infrastructure segments, driven largely by its major projects. These increases were offset by decreases in the Industrial and Oil Gas and Chemical segments of $21.9MM and $16.6MM, as a result of continued commodity price pressure.

$MTRX {{ '2017-09-12T20:30:45+0000' | timeago}} • Announcement

$MTRX subsidiary Matrix NAC said it received two separate contracts for blast furnace repair projects in the iron and steel industry. The projects are expected enhance the infrastructure, stability, efficiency and material handling of the associated facilities. The financial details of the contracts are not known.

$MTRX {{ '2017-08-08T16:04:09+0000' | timeago}} • Announcement

$MTRX's subsidiary Matrix PDM Engineering has begun advance procurement of long-lead items needed for the construction of the thermal vacuum chamber at $LMT's new Gateway Center. Matrix PDM Engineering also performed the front-end engineering design (FEED) study, as well as the detail engineering design.

$MTRX {{ '2017-07-28T14:36:05+0000' | timeago}} • Announcement

$MTRX announced that its subsidiary, Matrix NAC, has inked a deal with its customer, TransCanada, to modify the execution strategy on a key project in the Electrical Infrastructure segment. The expected financial outcome of the project will not negatively impact the future earnings of the company. Specific details are under wraps.

$MTRX {{ '2017-07-19T12:16:55+0000' | timeago}} • Announcement

$MTRX appointed John Chandler and Martha Carnes as new independent members of its BoD. The Company also announced that long-time Board members Michael Hall and Edgar Hendrix will retire from the Board and not stand for re-election at the 2017 Annual Meeting after serving on the Board for 19 years and 17 years, respectively.

$MTRX {{ '2017-05-10T13:11:44+0000' | timeago}} • Announcement

$MTRX remains optimistic about the long-term performance of business and strategic vision. $MTRX is actively managing cost structure to meet current and future customer commitments as markets improve. Continued strong bidding activity and other key indicators all point to improving capital project and maintenance spending in FY18.

$MTRX {{ '2017-05-10T13:10:10+0000' | timeago}} • Announcement

Availability under $MTRX's credit facility of $106.8MM along with the company's cash balance of $39.7MM provided liquidity of $146.5MM at March 31, 2017, a decrease of $81.9MM since Dec. 31, 2016.  This reduction is primarily attributable to a capacity constraint triggered by the company's financial performance in the quarter.

$MTRX {{ '2017-05-10T13:07:54+0000' | timeago}} • Announcement

$MTRX slipped to a loss in 3Q17 from a profit last year, due to negative impact of major project in Electrical Infrastructure segment as well as lower volume in the Storage Solutions segment. Net loss was $13.82MM or $0.52 per share compared to a profit of $4.36MM or $0.16 per share last year. Revenue fell to $251.24MM from $309.42MM.

$MTRX {{ '2017-04-05T15:58:06+0000' | timeago}} • Announcement

$MTRX said that PSEG Power awarded Matrix NAC the balance of plant aboveground electrical construction work at PSEG's new 540MW combined cycle power facility, Sewaren 7, in Woodbridge, New Jersey. The project was awarded in December 2016 with plans for the facility to come online by summer 2018.

$MTRX {{ '2017-03-21T20:16:41+0000' | timeago}} • Announcement

$MTRX's subsidiary, Matrix Service Inc. has been awarded the engineering, fabrication, procurement, and construction of 10 new tanks and associated balance of plant work by Vopak Americas, a division of Royal Vopak, for their Deer Park Brownfield Expansion project. The project is expected to be commissioned in the first calendar quarter of 2019.

$MTRX {{ '2016-09-07T14:47:16+0000' | timeago}} • Announcement

$MTRX said $KBR awarded Matrix North American Construction project in excess of $70MM for construction services in connection with $KBR's Tier 3 Ultra-Low-Sulfur Gasoline Relocation Project at $MTRX's Refinery in Trainer, Pa. Revenue associated with this project will be booked into backlog for Matrix NAC's Oil, Gas & Chemical segment for 1Q17.

$MTRX {{ '2016-08-31T16:05:49+0000' | timeago}} • Webcast

John Franzreb of Sidoti & Company asks about margin variability. $MTRX said it depends partly on mix of work. In the Industrial segment, the work in iron, steel and copper has lower margins. Oil, Gas and Chemical is all about volume. $MTRX is not expecting any real margin pressure in Electrical Infrastructure.

$MTRX {{ '2016-08-31T15:53:35+0000' | timeago}} • Webcast

Daniel Mannes of Avondale Partners asks about guidance. $MTRX said there is uncertainty in the market and in its ability to book work. There could be impacts on margins and spending patterns. SG&A is not going to be a wide range and tax rate can have a bit of variability depending on mix of work. Volume of revenue and GM will be most impacted.

$MTRX {{ '2016-08-31T15:29:36+0000' | timeago}} • Webcast

$MTRX said in 4Q16, gross profit of $34.1MM was down from $40.4MM in 4Q15. Consolidated GM was 9.5%. The decline in gross profit and margins was primarily due to continued headwinds in the Electrical segment. In 4Q16, $MTRX repurchased $5MM worth of stock bringing FY16 share repurchases to $10.5MM. Cash balance was $72MM at 4Q16-end.

$MTRX {{ '2016-08-31T15:06:13+0000' | timeago}} • Webcast

$MTRX said economic growth across North America has slowed, commodity prices in general remain low as demand continues to lag supply and the Federal elections cycle has created a period of uncertainty that may delay investment decisions. $MTRX's strong liquidity position enables it to weather the variability of the current business environment.

$MTRX {{ '2016-08-31T14:59:44+0000' | timeago}} • Webcast

Engineering services provider $MTRX said it began FY16 with a record level of backlog and while the business was impacted by significant variability in the commodity markets and an unexpected client bankruptcy, it delivered solid results for the year. For FY17, the opening backlog represents more than 60% of anticipated FY17 revenue.

$MTRX {{ '2016-08-30T20:45:20+0000' | timeago}} • Announcement

$MTRX's backlog at June 30, 2016 totaled $868.7MM compared to record backlog of $1.421Bil at June 30, 2015. This decline was due to two major multi-year project awards in 2H15. Project awards in 4Q16 totaled $195.8MM. Looking ahead, $MTRX expects FY17 revenue of $1.30-1.45Bil and EPS of $1.10-1.40.

$MTRX {{ '2016-08-30T20:43:14+0000' | timeago}} • Announcement

On a segment basis, $MTRX's revenue for 4Q16 rose $31.6MM and $2.1MM in the Storage Solutions and Electrical Infrastructure segments, driven largely by its major projects. These increases were offset by decreases in the Industrial and Oil Gas and Chemical segments of $21.9MM and $16.6MM, as a result of continued commodity price pressure.

$MTRX {{ '2016-08-30T20:39:22+0000' | timeago}} • Announcement

Energy services company $MTRX reported a decline in 4Q16 earnings due to continued market pressure on its customers as a result of current commodity pricing as well as lower revenues. Net income slid to $9.13MM or $0.34 per share from $10.92MM or $0.40 per share last year. Revenues fell to $359.64MM from $364.42MM.

$MTRX {{ '2016-02-09T13:18:52+0000' | timeago}} • Announcement

Energy services company $MTRX said it began the repurchase of common stock under its stock buyback program, which expires on Dec. 3, 2016. The current program offers a maximum repurchase of $25MM per year.

$MTRX {{ '2015-12-16T15:42:37+0000' | timeago}} • Announcement

$MTRX said that BP has renewed its contract with subsidiary, Matrix Service Inc, as the preferred maintenance contractor for its Cherry Point Refinery through 2020. $MTRX has provided on-site maintenance, capital project and turnaround work at the refinery for more than 20 years and it currently has 250 people on-site at the Cherry Point refinery.

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