Comments
yourfanat wrote: I am using another tool for Oracle developers - dbForge Studio for Oracle. This IDE has lots of usefull features, among them: oracle designer, code competion and formatter, query builder, debugger, profiler, erxport/import, reports and many others. The latest version supports Oracle 12C. More information here.
Cloud Expo on Google News
SYS-CON.TV

2008 West
DIAMOND SPONSOR:
Data Direct
SOA, WOA and Cloud Computing: The New Frontier for Data Services
PLATINUM SPONSORS:
Red Hat
The Opening of Virtualization
GOLD SPONSORS:
Appsense
User Environment Management – The Third Layer of the Desktop
Cordys
Cloud Computing for Business Agility
EMC
CMIS: A Multi-Vendor Proposal for a Service-Based Content Management Interoperability Standard
Freedom OSS
Practical SOA” Max Yankelevich
Intel
Architecting an Enterprise Service Router (ESR) – A Cost-Effective Way to Scale SOA Across the Enterprise
Sensedia
Return on Assests: Bringing Visibility to your SOA Strategy
Symantec
Managing Hybrid Endpoint Environments
VMWare
Game-Changing Technology for Enterprise Clouds and Applications
Click For 2008 West
Event Webcasts

2008 West
PLATINUM SPONSORS:
Appcelerator
Get ‘Rich’ Quick: Rapid Prototyping for RIA with ZERO Server Code
Keynote Systems
Designing for and Managing Performance in the New Frontier of Rich Internet Applications
GOLD SPONSORS:
ICEsoft
How Can AJAX Improve Homeland Security?
Isomorphic
Beyond Widgets: What a RIA Platform Should Offer
Oracle
REAs: Rich Enterprise Applications
Click For 2008 Event Webcasts
MATRRIX Announces Third Quarter 2012 Results

CALGARY, Nov. 23, 2012 /CNW/ - MATRRIX Energy Technologies Inc. ("MATRRIX" or the "Corporation") (TSXV: MXX) announces financial results for the third quarter of 2012.

HIGHLIGHTS

  • MATRRIX achieved revenue of $3,186,625 and EBITDA of $670,025 (21%) in Q3 2012 and revenue of $9,785,349 and EBITDA of $962,336 (10%) year to date 2012.
  • MATTRIX for the past 12 months of operations achieved revenue of $13,171,277 and EBITDA of $1,318,903 (10%)
  • MATRRIX realized gross margin of $1,341,725 (42%) in Q3 2012 and $3,073,159 (31%) year to date 2012 which was a notable increase from 25% in both the same periods in 2011.
  • The Corporation's concurrent job capacity was 13 directional and horizontal drilling systems during Q3.  The construction of 10 additional systems is in process, with deployment targeted for Q4 2012 and Q1 2013.
  • Continued balance sheet strength with $11,350,774 of cash on hand, and working capital of $16,165,180 at September 30, 2012.
  • MATRRIX is pleased to announce the launch of its website: www.matrrix.com

FINANCIAL SUMMARY HIGHLIGHTS

    Three Months Ended     Nine Months Ended
    September 30, 2012      September 30, 2012
Revenue   $3,186,625     $9,785,349
EBITDA  (i) $670,025     $962,336
EBITDA per share          
  Basic   $0.02     $0.03
  Diluted   $0.02     $0.03
Net income   $279,938     ($89,537)
Net income/(loss) per share          
  Basic   $0.01     ($0.00)
  Diluted   $0.01     ($0.00)
           
Weighted Average diluted shares   32,037,508     31,558,462
           
    At September 30, 2012     At December 31, 2011
Working capital   $16,141,660     $19,023,869
Total assets   $27,049,208     $26,848,999
Long-term debt   $ Nil     $ Nil
Shareholders' equity   $26,125,265     $24,727,378
Common shares outstanding   32,101,638     30,771,021

 

At the date of this press release MATRRIX had a total of 13 directional and horizontal systems available for deployment in Alberta, Saskatchewan, British Columbia and Manitoba. In addition, the Corporation continues to operate a drilling motor business in west Texas.

President Richard Ryan states, "We're making strong progress growing the MATRRIX brand, our revenue base, and our EBITDA. Our Key Performance Indicators (KPI's) all show significant period to period improvement, affirming our strategy and our model. Of primary importance is that our formula is being endorsed by MATRRIX clients. With financial strength anchored around a balance sheet that includes $11 million in cash, we'll remain disciplined in deploying additional capital, targeting strong returns as we execute our comprehensive approach to delivering horizontal and directional drilling technology and services in North America. I'm impressed (but not surprised) with the hard work and focus of all MATRRIX staff, and equally impressed with our ability to find opportunities and execute in a way that is clearly having an impact."

The Corporation's financial statements and management's discussion and analysis for the three and nine month periods ended September 30, 2012 will be available on SEDAR at www.sedar.com.

NON-GAAP MEASURES

This press release contains references to EBITDA. This financial measure is not a measure that has any standardized meaning prescribed by IFRS and is therefore referred to as a non-GAAP measure. The non-GAAP measures used by the Corporation may not be comparable to similar measures used by other companies.

(i) EBITDA is defined as "income (loss) before interest, taxes, business acquisition transaction costs, reverse takeover adjustments, depreciation, stock based compensation expense, gains on disposal of property and equipment and foreign exchange." Management believes that in addition to net and total comprehensive income (loss), EBITDA is a useful supplemental measure as it provides an indication of the results generated by the Corporation's principal business activities prior to consideration of how these activities are financed, how the results are taxed in various jurisdictions, or how the results are effected by the accounting standards associated with the Corporation's stock based compensation plan.

    Three Months Ended   Nine Months Ended  
    September 30, 2012    September 30, 2012  
Income (loss) before income taxes and interest $  253,002  $  (251,046)  
Depreciation   335,085   820,668  
Share based payments   98,971   360,951  
Foreign exchange (gain)/loss   (17,032)   31,762  
EBITDA $  670,025 $  962,336  

 

MATRRIX is engaged in the acquisition and supply of horizontal and directional drilling technologies for the oil and gas industry in North America.

FORWARD-LOOKING INFORMATION

This press release contains certain statements or disclosures relating to MATRRIX that are based on the expectations of MATRRIX as well as assumptions made by and information currently available to MATRRIX which may constitute forward-looking information under applicable securities laws. In particular, this press release contains forward-looking information related to: the consistency of activity in both Canada and the USA. Such forward-looking information involves material assumptions and known and unknown risks and uncertainties, certain of which are beyond MATRRIX's control.  Many factors could cause the performance or achievement by MATRRIX to be materially different from any future results, performance or achievements that may be expressed or implied by such forward looking information. MATRRIX's documents filed with securities regulatory authorities (accessible through the SEDAR website www.sedar.com) describe the risks, material assumptions and other factors that could influence actual results and which are incorporated herein by reference. MATRRIX disclaims any intention or obligation to publicly update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as may be expressly required by applicable securities laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. 

 

 

SOURCE MATRRIX Energy Technologies Inc.

About PR Newswire
Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest AJAXWorld RIA Stories
At the beginning of the book the authors say they created this book to be used in a classroom setting. I agree that it is a great book for the classroom, but I would also recommend it to anyone who wants to learn about the current Agile methodologies. It does what the title of th...
As an enterprise and software architect the one thing I hate most about my job is documentation, yet the importance of doing documentation on sizable projects is what I find myself preaching about the most. One reason I understand the importance of documentation is that I came f...
The premiere issue of the Internet of @ThingsExpo Newsletter contains highlights of the hottest sessions and speakers from Internet of @ThingsExpo, Call for Papers information, and sponsorship opportunities.
“At Cloud Expo in NYC last week I sat in on the Internet of Things power panel and then presented about how to monetize the Internet of Things. The room was packed, standing room only and I stuck around for a full 30 minutes afterwards answering questions before I had to tear mys...
Express Logic, Inc., the worldwide leader in royalty-free real-time operating systems (RTOSes), introduces X-Ware™, an integrated, optimized, comprehensive middleware solution that provides a solid foundation for Internet of Things (IoT) development. X-Ware consists of Express Lo...
Subscribe to the World's Most Powerful Newsletters
Subscribe to Our Rss Feeds & Get Your SYS-CON News Live!
Click to Add our RSS Feeds to the Service of Your Choice:
Google Reader or Homepage Add to My Yahoo! Subscribe with Bloglines Subscribe in NewsGator Online
myFeedster Add to My AOL Subscribe in Rojo Add 'Hugg' to Newsburst from CNET News.com Kinja Digest View Additional SYS-CON Feeds
Publish Your Article! Please send it to editorial(at)sys-con.com!

Advertise on this site! Contact advertising(at)sys-con.com! 201 802-3021


SYS-CON Featured Whitepapers
ADS BY GOOGLE