Matrix Service Q4 Profit Rises

(RTTNews) - Matrix Service Co (MTRX) on Monday reported fourth-quarter profit of $10.9 million or $0.40 per share, up from $7.6 million or $0.28 per share a year ago.

Revenues for the fourth quarter rose 7.6 percent to $370.5 million from $344.4 million last year.

Analysts polled by Thomson Reuters estimate earnings of $0.27 per share on revenues of $378.45 million for the quarter. Analysts' estimates typically exclude one-time items.

On a segment basis, revenue increased in the Oil Gas & Chemical and Electrical Infrastructure segments, partially offset by decreases in the Industrial and Storage Solutions segments.

Gross margins improved 10.9 percent from 10.7 percent last year. Selling, general and administrative costs as a percentage of revenue decreased to 5.9 percent from 6.6 percent last year.

Looking forward, the company continues to expect fiscal 2016 revenue to be between $1.4 billion and $1.6 billion and earnings to be between $1.45 and $1.75 per share. Analysts currently estimate earnings of $1.58 per share and revenues of $1.50 billion.