Despite the challenging environment, we are pleased with the performance of the Matrix team and remain optimistic about our growth prospects. Project execution continues to be strong and safety performance is excellent. As I mentioned earlier, the company's financial position remains strong with over $50 million in cash, positive cash flow and no bank debt. We have added bonding capacity to grow our backlog and are encouraged by numerous opportunities across our markets. Many of these opportunities are the result of our expanded and diversified capability gained through recent acquisitions and additions of business development and project personnel.Our project funnel continues to grow and we're attracting several billion dollars of projects. Overall, the bid activity remains strong with opportunities in power, electrical instrumentation, Aboveground Storage Tanks and terminals and alternative energy. While recent awards have been slow to develop, we believe that project awards will increase as we move into fiscal year 2011 based on client indication.
Matrix Servic Q3 2010 Earnings Call Transcript
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