MATRIX SERVICE COMPANY REPORTS FIRST QUARTER FISCAL 2022 RESULTS

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MATRIX SERVICE COMPANY REPORTS FIRST QUARTER FISCAL 2022 RESULTS

TULSA, Okla., Nov. 08, 2021 (GLOBE NEWSWIRE) — Matrix Service Company (Nasdaq: MTRX), a leading contractor to the energy and industrial markets across North America, today reported financial results for its first quarter of fiscal 2022.

  • Project awards of $266.9 million in the quarter resulting in a book-to-bill of 1.6, highest awards since the first quarter of fiscal 2020
  • Backlog increased 21.4% in the quarter to $561.4 million
  • Balance sheet remains strong with no debt; new $100.0 million credit facility
  • First quarter revenue of $168.1 million
  • First quarter loss per fully diluted share of $0.66; adjusted loss per fully diluted share of $0.60(1)