Matrix Service 2Q Profit Surges

Matrix Service Co. today reported its financial results for the second quarter of fiscal 2007, ended November 30, 2006. Total revenues for the quarter were $166.4 million compared to $126.8 million recorded in the second quarter of fiscal 2006.

Net income for the second quarter of fiscal 2007 was $8.1 million, or $0.31 per fully diluted share, which included pre-tax charges of $0.3 million, or $0.01 per fully diluted share, for the adoption of the fair value recognition provisions in SFAS 123(R) Accounting for Stock-Based Compensation. These results show a 368.2% improvement compared to the prior year when the Company reported second quarter net income of $2.2 million, or $0.10 per fully diluted share.



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