Matrix Service Company (MTRX, Financial) filed Quarterly Report for the period ended 2008-11-30.
MATRIX SERVICE CO. provides specialized on-site maintenance and construction services for petroleum refining and storage facilities and water storage tanks and systems for the municipal and private industry sector. Owners of these facilities use the Company's services in an effort to improve operating efficiencies and to comply with stringent environmental and safety regulations. Through its subsidiaries Matrix Service Inc. San Luis Tank Piping Construction Co. Inc. and an affiliated company West Coast Industrial Coatings Inc. Heath Engineering Ltd. Matrix Service Company has a market cap of $204.74 million; its shares were traded at around $8.69 with a P/E ratio of 8.3 and P/S ratio of 0.28.
At November 30, 2008, the Construction Services segment had a backlog of $282.9 million, as compared to a backlog of $300.3 million at August 31, 2008. The decrease of $17.4 million from August 31, 2008 was due to declines in Downstream Petroleum and Electrical and Instrumentation of $18.2 million and $12.4 million, partially offset by increases in Aboveground Storage Tank of $8.1 million and Specialty of $5.1 million.
Revenues for the Repair and Maintenance Services segment were $76.8 million in fiscal 2009 compared to $78.5 million in fiscal 2008. The change was due to lower Downstream Petroleum revenues, which decreased $8.6 million to $21.2 million in fiscal 2009, compared to $29.8 million a year earlier. Largely offsetting this decline was an increase of $6.8 million in Aboveground Storage Tank revenues, which increased 15.3% to $51.3 million in fiscal 2009, compared to $44.5 million in the prior fiscal year. Electrical and Instrumentation revenues were $4.3 million in fiscal 2009, compared to $4.2 million a year earlier.
Revenues for the Construction Services segment were $214.9 million, compared with $215.1 million in the same period a year earlier. The decrease of $0.2 million was due to lower Specialty revenues, which decreased $23.7 million as the construction of the tanks on a Gulf Coast LNG project was completed in the fourth quarter of fiscal 2008. Largely offsetting this decline was higher Downstream Petroleum revenues, which increased $13.5 million to $86.5 million in fiscal 2009 compared to $73.0 million a year earlier, higher Electrical and Instrumentation revenues, which increased $6.9 million to $14.3 million in fiscal 2009, compared to $7.4 million a year earlier, and higher Aboveground Storage Tank revenues, which increased $3.1 million to $100.9 million in fiscal 2009, compared to $97.8 million a year earlier.
At November 30, 2008, the Construction Services segment had a backlog of $282.9 million, as compared to a backlog of $325.3 million as of May 31, 2008. The decrease of $42.4 million was due to declines in Aboveground Storage Tank, Electrical and Instrumentation, and Downstream Petroleum of $22.8 million, $16.7 million and $9.7 million, respectively. Partially offsetting these declines was an increase in Specialty of $6.8 million.
Revenues for the Repair and Maintenance Services segment were $148.7 million in fiscal 2009 compared to $141.0 million in fiscal 2008. The improvement was due to higher Aboveground Storage Tank revenues, which increased 15.3% to $99.2 million in fiscal 2009, compared to $86.0 million in the prior fiscal year. This increase was partially offset by lower Downstream Petroleum revenues, which decreased $4.9 million to $42.4 million in fiscal 2009 from $47.3 million during fiscal 2008 and lower Electrical and Instrumentation revenues, which decreased $0.6 million to $7.0 million in fiscal 2009 from $7.6 million during fiscal 2008.
Read the The complete ReportMore on MTRX:
Gurus buys and sells of MTRX
10-year financial history of MTRX.
Insider buys/sells of MTRX.
MATRIX SERVICE CO. provides specialized on-site maintenance and construction services for petroleum refining and storage facilities and water storage tanks and systems for the municipal and private industry sector. Owners of these facilities use the Company's services in an effort to improve operating efficiencies and to comply with stringent environmental and safety regulations. Through its subsidiaries Matrix Service Inc. San Luis Tank Piping Construction Co. Inc. and an affiliated company West Coast Industrial Coatings Inc. Heath Engineering Ltd. Matrix Service Company has a market cap of $204.74 million; its shares were traded at around $8.69 with a P/E ratio of 8.3 and P/S ratio of 0.28.
Highlight of Business Operations:
Revenues for the Construction Services segment were $100.1 million, compared with $116.2 million in the same period a year earlier. The decrease of $16.1 million, or 13.9%, was due to lower Aboveground Storage Tank revenues, which decreased 22.8% to $45.0 million in fiscal 2009, compared to $58.3 million a year earlier, lower Specialty revenues, which decreased $8.9 million to $4.3 million in fiscal 2009, compared to $13.2 million a year earlier, partially offset by higher Downstream Petroleum revenues, which increased 6.6% to $42.1 million in fiscal 2009 compared to $39.5 million a year earlier and higher Electrical and Instrumentation revenues, which improved $3.5 million.At November 30, 2008, the Construction Services segment had a backlog of $282.9 million, as compared to a backlog of $300.3 million at August 31, 2008. The decrease of $17.4 million from August 31, 2008 was due to declines in Downstream Petroleum and Electrical and Instrumentation of $18.2 million and $12.4 million, partially offset by increases in Aboveground Storage Tank of $8.1 million and Specialty of $5.1 million.
Revenues for the Repair and Maintenance Services segment were $76.8 million in fiscal 2009 compared to $78.5 million in fiscal 2008. The change was due to lower Downstream Petroleum revenues, which decreased $8.6 million to $21.2 million in fiscal 2009, compared to $29.8 million a year earlier. Largely offsetting this decline was an increase of $6.8 million in Aboveground Storage Tank revenues, which increased 15.3% to $51.3 million in fiscal 2009, compared to $44.5 million in the prior fiscal year. Electrical and Instrumentation revenues were $4.3 million in fiscal 2009, compared to $4.2 million a year earlier.
Revenues for the Construction Services segment were $214.9 million, compared with $215.1 million in the same period a year earlier. The decrease of $0.2 million was due to lower Specialty revenues, which decreased $23.7 million as the construction of the tanks on a Gulf Coast LNG project was completed in the fourth quarter of fiscal 2008. Largely offsetting this decline was higher Downstream Petroleum revenues, which increased $13.5 million to $86.5 million in fiscal 2009 compared to $73.0 million a year earlier, higher Electrical and Instrumentation revenues, which increased $6.9 million to $14.3 million in fiscal 2009, compared to $7.4 million a year earlier, and higher Aboveground Storage Tank revenues, which increased $3.1 million to $100.9 million in fiscal 2009, compared to $97.8 million a year earlier.
At November 30, 2008, the Construction Services segment had a backlog of $282.9 million, as compared to a backlog of $325.3 million as of May 31, 2008. The decrease of $42.4 million was due to declines in Aboveground Storage Tank, Electrical and Instrumentation, and Downstream Petroleum of $22.8 million, $16.7 million and $9.7 million, respectively. Partially offsetting these declines was an increase in Specialty of $6.8 million.
Revenues for the Repair and Maintenance Services segment were $148.7 million in fiscal 2009 compared to $141.0 million in fiscal 2008. The improvement was due to higher Aboveground Storage Tank revenues, which increased 15.3% to $99.2 million in fiscal 2009, compared to $86.0 million in the prior fiscal year. This increase was partially offset by lower Downstream Petroleum revenues, which decreased $4.9 million to $42.4 million in fiscal 2009 from $47.3 million during fiscal 2008 and lower Electrical and Instrumentation revenues, which decreased $0.6 million to $7.0 million in fiscal 2009 from $7.6 million during fiscal 2008.
Read the The complete ReportMore on MTRX:
Gurus buys and sells of MTRX
10-year financial history of MTRX.
Insider buys/sells of MTRX.
