Matrix Service Co. reports strong Q1 results
Industrial services company Matrix Service Co. (Nasdaq: MTRX) reported financial results for its first fiscal quarter of 2008 above Wall Street’s expectations.
For the three months ended Aug. 31, the Tulsa, Okla.-based company reported net income of $6.3 million, or $0.23 per fully diluted share, compared with net income of $3 million, or $0.12 per fully diluted share for the first quarter of 2007. The consensus of three analysts polled by Thomson Financial was for earnings of $0.19 per share.
Total revenues were $161.3 million, compared with $126.9 million for the first quarter of fiscal 2007. One analyst polled by Thomson Financial was expecting revenues of $151.07 million.
Shares of Matrix Service (MTRX) rose $0.31, or 1.37%, to $22.97 in pre-market trading. Over the last 52 weeks, shares have ranged between $12.99 and $29.38.
