Business
Enterprise Group Announces Results for Fourth Quarter and Full Year 2019
St. Albert, Alberta--(Newsfile Corp. - March 13, 2020) -  Enterprise Group, Inc. (TSX: E)...
About this update from Enterprise Group, Inc.
[{"type":"text","content":"Enterprise Group Announces Results for Fourth Quarter and Full Year 2019St. Albert, Alberta--(Newsfile Corp. - March 13, 2020) -  Enterprise Group, Inc. (TSX: E) (\"Enterprise,\" or \"the Company\"), a consolidator of services to the energy sector; focused primarily on construction services and specialized equipment rental, today released its Q4 2019 and FY2019 results.Three months December 31, 2019Three months December 31, 2018(2)Year ended December 31, 2019Year ended December 31, 2018(2)Revenue$5,349,256$5,581,767$19,521,797$20,479,612Gross margin$1,556,657$1,474,153$5,044,970$2,873,822Gross margin %29%26%26%14%EBITDA(1)$1,032,448$742,649$2,879,683$81,656Net (loss) income and comprehensive (loss) income$(1,197,074)$(4,567,789)$(5,035,705)$(5,812,503)Loss per share $(0.02)$(0.08)$(0.09)$(0.11)  (1) Identified and defined under \"Non-IFRS Measures\".  (2)In March 2018, the Company closed a transaction to divest substantially all the assets of CTHA. The net operations of CTHA, including the prior period, are presented as a single amount in the consolidated statements of loss and comprehensive loss. An unseasonably wet spring and summer delayed the start and completion of many projects. Activity in certain regions of Alberta came to a complete halt due to wet conditions, which is uncommon. Activity in Northeastern B.C. continued to increase and positively impacted operations. Regional diversity helped the Company during the fourth quarter and the fiscal year, however the increased activity in Northeastern B.C. was not enough to offset the decline in Alberta. Customer activity has had, and will continue to have, a significant impact on company performance.Despite the wet weather, lower activity levels and lower revenue, the Company generated positive cash flow from operations of $3,609,571 for the year ended December 31, 2019, which was similar to the prior year of $3,797,399. During the year, the Company purchased and cancelled 4,171,500 shares at a cost of $720,529. As result, the Company's share capital account was reduced by $5,991,273, representing the average share value of outstanding shares. Enterprise believes its stock remains undervalued and will continue to re-invest positive cash flow to buy-back shares to enhance shareholder value. Revenue for the three months ended December 31, 2019, was...