Matrix Service Q2 Profit Beats Estimate; Lifts FY14 Outlook

(RTTNews) - Matrix Service Co. (MTRX) Wednesday said second-quarter net income attributable to the company was $10.3 million, or $0.38 per share, compared to $5.4 million, or $0.21 per share in the comparable quarter last year.

On average, four analysts polled by Thomson Reuters expected the company to earn $0.27 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenues for the quarter grew 40.5 percent to $311.00 million from $221.44 million in the prior-year quarter, while four analysts had a consensus revenue estimate of $243.19 million for the quarter.

Looking ahead to fiscal 2014, the company raised its earnings to a range of $1.15 to $1.30 per share and revenues in range of $1.20 billion to $1.25 billion. Earlier, the company expected earnings to be in the range of $1.00 to $1.15 per share and revenues in range of $980 million to $1.04 billion.

Analysts currently expect earnings of $1.14 per share for fiscal 2014, with revenues of $1.03 billion.