We're encourage by a number of positive elements and emerging trends in our core markets. Many of our customers are planning significant projects that Matrix Service is well positioned to capture. Given the strength in our current business lines and strategic expansion opportunities, we are expanding our revolving credit facility from $75 million to $125 million. We have received commitments from our bank group and we expect to close on the new facility early next week. We believe this added capacity supports the company's strategic growth requirements beyond fiscal 2012.
As for guidance, we are encouraged by the additions to backlog in the first quarter in the current bidding activity. In addition, our project funnel includes a significant number of material contracts in both the Construction Services and Repair and Maintenance Services segments. As a result, we are increasing the lower end of our revenue guidance from $650 million to $675 million and we are increasing the lower end of our earnings guidance from $0.75 per fully diluted share to $0.80 per fully diluted share.
We are holding the top end of our revenue earnings guidance at $725 million and $0.95 per fully diluted share respectively.
With that, I'll turn the call over to Kevin to discuss the financial results.Kevin S. Cavanah Thanks, John. In the first quarter ended September 30, 2011, revenues were $169.3 million, an increase of 11.5% versus $151.8 million in the same period last year. We are on $0.13 per fully diluted share in the first quarter compared to $0.12 per fully diluted share in the same period last year. Repair and Maintenance Services segment revenues increased 28.3% to $69.7 million in the quarter compared to $54.3 million in the same period last year. Construction Services segment revenues increased 2.1% to $99.6 million in the first quarter compared to $97.5 million in the same period of last year.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV