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Matrix Service's CEO Discusses Q2 2012 Results - Earnings Call Transcript

John R. Hewitt

Thanks, Kevin. I'm pleased with the strong performance in the second quarter and believe we are positioned for continued success. Our growth in backlog continued during the second quarter as we have a positive book-to-bill ratio along with record revenues in the quarter. Backlog was $433.6 million at the end of the quarter, which is our highest level of backlog since the third quarter of fiscal 2009. We expect to see this trend continue as proposal volume is robust in all of our business lines.

We are definitely seeing strength return from majority of our markets. Opportunities in all business lines have increased, and we feel very good about our year. As a result, we are increasing our revenue guidance for fiscal 2012 to a range of $725 million to $775 million, and increasing our earnings guidance to $0.85 to $0.95 per fully diluted share.

Due to normal seasonality we experienced in our business, we would expect the fourth quarter to be somewhat stronger than the third quarter. As a backdrop to these strong results, I'd like to give you an overview of our recently completed long-range strategic plan and focus areas for the company.

As we successfully execute on our strategy, we will continue to make safety our #1 priority, leverage and expand our core competencies and markets, create a broader North American footprint, maintain a balanced risk portfolio, continue to build our business organically to the addition of key leadership and engage in an active and focused acquisition program.

Read the rest of this transcript for free on seekingalpha.com

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