MATRRIX Energy (TSXV:MXX) Reported Record Quarterly Revenue for 3 Months Ended September 30, 2013 - Video News Alert on InvestmentPitch.com
(Thomson Reuters ONE) -
Vancouver, British Columbia, November 26, 2013 -. MATRRIX Energy (TSXV:MXX)
reported record quarterly revenue for the 3 months ended September 30, 2013. The
company recorded revenue of $8.1 million in the 3rd quarter, up 153% from $3.2
million in the same quarter in 2012.
InvestmentPitch.com has produced a "video news alert" about MATRRIX Energy based
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and enter "MATRRIX" in the search box.
EBITDA of $579,787 was down 13% from $670,025 primarily resulting from gross
margin reduction and increased US fixed start-up costs.
The company is engaged in the acquisition and supply of horizontal and
directional drilling technologies for the oil and gas industry in North America.
MATRRIX supplies market relevant technology to deliver highly accurate wellbore
positioning while drilling miles under the surface of the earth.
The customer base in Canada has expanded during the 3rd quarter with customers
having a mix of oil and/or liquids rich capital programs. With potentially large
field developments as a result of the proposed west coast LNG terminals, there
may be increased incremental investment into the Western Canadian Sedimentary
Basin in 2014 and beyond.
MATRRIX continued its performance drilling operations in the Permian area of
Texas and continues to look to expand operations in this region. The company's
concurrent job capacity was 23 directional and horizontal drilling systems
during the quarter with 19 systems in Canada and 4 systems in the United States.
The company maintained a strong balance sheet with $4.3 million of cash and cash
equivalents and working capital of $8.8 million at September 30, 2013. The
company anticipates capital expenditures of approximately $2 million during the
balance of 2013 for the purchase of additional horizontal and directional
drilling related equipment, bring the total to approximately $4.3 million for
the year.
The company's shares currently trade at $0.76 and with 32.2 million shares
outstanding, the company is capitalized at $24.5 million.
For a more information, please visit the company`s website at www.matrrix.com or
phone Richard Ryan, President and CEO at 403-984-5062.
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Unternehmensinformation / Kurzprofil:
Datum: 26.11.2013 - 16:37 Uhr
Sprache: Deutsch
News-ID 320563
Anzahl Zeichen: 3631
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Kategorie:
Business News
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