Matrix Service Co. a Tulsa-based industrial services company, today issued guidance for its fiscal year 2008.
The company expects that revenues for the fiscal year 2008, ending May 31, 2008, will be between $700 million and $750 million. Gross margins for Repair and Maintenance Services are expected to average between 11 percent and 14 percent and gross margins for Construction Services are expected to average between 11 percent and 12 percent.
The company said they expect revenues weighted at 65 percent for Construction Services and 35 percent for Repair and Maintenance Services and anticipate consolidated gross margins to average approximately 11.5 percent to 12.5 percent, respectively.
According to the company. Matrix Service has a net cash position in excess of $9.0 million. The effective tax rate should be 40 percent and Matrix Service should average approximately 27.5 million fully diluted shares outstanding throughout the year.