This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Matrix Service Company Announces Results For The Fourth Quarter And Fiscal Year Ended June 30, 2013 And Provides Fiscal 2014 Guidance

Fiscal 2013 Results

Fiscal 2013 revenues were $892.6 million compared to $739.0 million in the same period a year earlier, an increase of $153.6 million, or 20.8%. Net income for fiscal 2013 was $24.0 million, or $0.91 per fully diluted share. In the same period a year earlier the Company earned $17.2 million, or $0.65 per fully diluted share.

Revenues increased in all of our segments: Oil Gas & Chemical, Electrical Infrastructure, Industrial, and Storage Solutions increased $68.0 million, $36.1 million, $34.3 million and $15.0 million, respectively. Consolidated gross profit was $94.7 million in fiscal 2013 compared to $79.6 million in the same period a year earlier. Gross margins were 10.6% in fiscal 2013 versus 10.8% in the same period a year earlier. In line with our expectations, selling, general and administrative costs increased by $10.0 million which is primarily related to planned investments in our branding initiative, strategic growth areas and related support functions and increased business volumes.

Income Tax Expense

The effective tax rates were 34.7% and 33.2% for the three months and fiscal year ended June 30, 2013. The fiscal 2013 tax rate was positively impacted by the effect of retroactive tax legislation passed in the third quarter extending certain tax benefits. The fourth quarter tax rate was positively impacted by a change in the estimated benefit the Company expects to receive from a tax deduction. The Company estimates that its effective tax rate on future earnings will approximate 38%.


Backlog at June 30, 2013 totaled $626.7 million, an increase of $129.2 million, or 26.0%, compared to the backlog at June 30, 2012 of $497.5 million and decreased by $17.6 million, or 2.7%, compared to the March 31, 2013 backlog of $644.3 million. Project awards totaled $217.9 million and $1.0 billion in the three months and fiscal year ended June 30, 2013.

2 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,084.49 +33.74 0.20%
S&P 500 2,014.89 +15.91 0.80%
NASDAQ 4,830.47 +19.6820 0.41%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs