Business
MATRRIX Announces First Full Calendar Year of Operations and Fourth Quarter 2012 Results
CALGARY, March 25, 2013 /CNW/ - MATRRIX Energy Technologies Inc. ("MATRRIX" or the "Corpora...
About this update from Stampede Drilling Inc.
[{"type":"text","content":"\n\n\n\n\n\nCALGARY, March 25, 2013 /CNW/ - MATRRIX Energy Technologies Inc.\n (\"MATRRIX\" or the \"Corporation\") (TSXV: MXX) announces financial\n results for the fourth quarter and year end of 2012.\n\n\nHIGHLIGHTS\n\n\nMATRRIX achieved revenue of $12,960,491, gross margin of $3,928,967\n (30%) and EBITDA of $1,062,784 in its first full calendar year of\n operations ended December 31, 2012.\n\n\nThe Corporation maintained a strong balance sheet with $10,715,208 of\n cash and cash equivalents at December 31, 2012.\n\n\nMATRRIX achieved Q4 2012 revenue of $3,175,142, gross margin of $855,808\n (27%) and EBITDA of $100,450.\n\n\nThe Corporation's concurrent job capacity was 20 directional and\n horizontal drilling systems at the end of Q4 2012.\n\n\nAs at March 25, 2013, concurrent job capacity is 23 systems, which\n includes 3 additional systems completed in Q1 2013.\n\n\nMATRRIX commenced expansion of its directional and horizontal drilling\n business into the USA to complement its current US performance motor\n business with the hiring of local operational and sales staff and the\n transfer of 3 systems in Q1 2013.\n\n\nMATRRIX expects to commit 2013 capital expenditures of approximately\n $4,300,000, primarily for additional horizontal and directional\n drilling related equipment.\n\n\n\n\n\nFINANCIAL SUMMARY HIGHLIGHTS\n\n\n\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\nPeriod from\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\nIncorporation on\n\n\n \n\n\n \n\n\n \n\n\nThree Months Ended\n\n\n \n\n\nYear Ended\n\n\nJanuary 7, 2011 to\n\n\n \n\n\n \n\n\n \n\n\nDecember 31, 2012\n\n\n \n\n\nDecember 31, 2011\n\n\n% Change\n\n\nDecember 31, 2012\n\n\nDecember 31, 2011\n\n\n% Change\n\n\nRevenue\n\n\n \n\n\n$3,175,142\n\n\n \n\n\n$3,385,928\n\n\n-6%\n\n\n$12,960,491\n\n\n$3,805,489\n\n\n241%\n\n\nEBITDA \n\n\n(i)\n\n\n$100,450\n\n\n \n\n\n$356,570\n\n\n-72%\n\n\n$1,062,784\n\n\n($111,234)\n\n\n1055%\n\n\nEBITDA per share\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n-  \n\n\n \n\n\n \n\n\nBasic\n\n\n \n\n\n$0.00\n\n\n \n\n\n$0.01\n\n\nnm\n\n\n$0.03\n\n\n($0.01)\n\n\n435%\n\n\n \n\n\nDiluted\n\n\n \n\n\...