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Matrix Service's CEO Discusses Q3 2012 Results - Earnings Call Transcript

Stocks in this article: MTRX

The Electrical Infrastructure segment, which represents 20% to 25% of our business, primarily encompasses high-voltage electrical service to investor-owned utilities and construction and maintenance services in power generation facilities. High-voltage services include construction of new substations, existing substation upgrades, short-run transmission line installations, distribution upgrades and maintenance and storm restoration services. Construction and maintenance services are provided through a variety of power generation facilities, such as combined cycle plants, nuclear facilities, coal-fired power stations and renewable energy.

The Oil Gas & Chemical segment represents some 20% to 30% of our business volume and includes our traditional turnaround activities, plant services and capital construction work in the downstream petroleum industry. We provide similar services to chemical, alternative fuels and upstream gas and petroleum facilities. This segment also includes various industrial cleaning services, including hydroblasting and vacuum services.

The Storage Solutions segment, which accounts for 40% to 50% of our operations and includes new construction and maintenance services for crude and refined product, aboveground storage tanks and terminals. This segment also includes cryogenic storage vessels, such as LNG tanks, and other specialty vessels, such as spheres and bullets. All of our engineering and fabrication services related to the Storage Solutions will also be captured in this area.

The Industrial segment primarily represents start-up businesses and key growth sectors for Matrix Service Company and is currently around 5% of total revenues. Principally, this includes capital projects, maintenance and outages in the mining and metals industry. This segment also includes the engineering, procurement and construction of bulk material handling systems. Other services include equipment installation, millwrighting, instrumentation and control systems and mechanical construction in a number of end markets, including pharmaceutical, pulp and paper, food and beverage, aerospace and other industries.

These new reporting segments provide a better description of our business aligned with our vision for the future. Consistent with our strategic plan, Matrix Service Company will continue to invest in growth opportunities in order to deliver consistent performance and increased shareholder value.

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