UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported) June 26, 2008
Matrix Service Company
(Exact Name of Registrant as Specified in Its Charter)
DELAWARE
(State or Other Jurisdiction of Incorporation)
| 001-15461 | 73-1352174 | |
| (Commission File Number) | (IRS Employer Identification No.) |
| 10701 E. UTE. STREET, TULSA, OK | 74116 | |
| (Address of Principal Executive Offices) | (Zip Code) |
918-838-8822
(Registrant’s Telephone Number, Including Area Code)
NOT APPLICABLE
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
| Item 2.02 | Results of Operations and Financial Condition. |
On June 26, 2008, Matrix Service Company (the “Company”) issued a press release announcing guidance for fiscal year 2009 and reaffirming guidance for fiscal year 2008. The full text of the press release is attached as Exhibit 99 to this Current Report on Form 8-K.
The information in this Item 2.02 and Exhibit 99 attached hereto is being furnished pursuant to Item 2.02 and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
| Item 9.01 | Financial Statements and Exhibits. |
The following exhibit is filed or furnished herewith:
| Exhibit No. |
Description | |
| 99 |
Press Release dated June 26, 2008 announcing guidance for fiscal year 2009 and reaffirming guidance for fiscal year 2008. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Matrix Service Company | ||||
| Dated: June 27, 2008 | ||||
| By: | /s/ Kevin S. Cavanah | |||
| Kevin S. Cavanah | ||||
| Vice President – Accounting & Financial Reporting and Principal Accounting Officer | ||||
EXHIBIT INDEX
| Exhibit No. |
Description | |
| 99 |
Press Release dated June 26, 2008 announcing guidance for fiscal year 2009 and reaffirming guidance for fiscal year 2008. |
Exhibit 99
FOR IMMEDIATE RELEASE
MATRIX SERVICE ISSUES GUIDANCE FOR THE FISCAL YEAR 2009
AND REAFFIRMS GUIDANCE FOR THE FISCAL YEAR 2008
TULSA, OK – June 26, 2008 – Matrix Service Co. (Nasdaq: MTRX), a leading industrial services company, today issued guidance for fiscal year 2009. The Company expects that revenues will be between $800 million and $850 million for the fiscal year ending May 31, 2009. With strong operating results expected in both the Construction Services and Repair and Maintenance Services segments, the Company expects to achieve earnings in fiscal 2009 in the range of $1.35 per fully diluted share to $1.60 per fully diluted share.
Michael J. Bradley, president and chief executive officer of Matrix Service Company, said, “We are pleased with our accomplishments in the past year and are maintaining the range of financial guidance previously issued for fiscal 2008. While we expect to see the strong demand for our core services in the energy market continue into fiscal year 2009, we will also be focused on diversifying our service offerings and to expand our geographic footprint within the energy and industrial markets.”
Bradley added, “We believe that Matrix Service is well positioned to build upon its recent growth trends and achieve the revenue and earnings targets established for fiscal 2009. To support the anticipated growth in fiscal 2009 and beyond, the Company expects to spend approximately $25 million for capital expenditures in fiscal 2009 and expects SG&A to be in the range of 5.5% to 6.0% of revenue.”
About Matrix Service Company
Matrix Service Company provides general industrial construction and repair and maintenance services principally to the petroleum, petrochemical, power, bulk storage terminal, pipeline and industrial gas industries.
The Company is headquartered in Tulsa, Oklahoma, with regional operating facilities located in Oklahoma, Texas, California, Michigan, Pennsylvania, Illinois, Washington, and Delaware in the U.S. and Canada.
This release contains forward-looking statements that are made in reliance upon the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are generally accompanied by words such as “anticipate,” “continues,” “expect,” “forecast,” “outlook,” “believe,” “estimate,” “should” and “will” and words of similar effect that convey future meaning, concerning the Company’s operations, economic performance and management’s best judgment as to what may occur in the future. Future events involve risks and uncertainties that may cause actual results to differ materially from those we currently anticipate. The actual results for the current and future periods and other corporate developments will depend upon a number of economic, competitive and other influences, including those identified in the “Risk Factors” and “Forward Looking Statements” sections and elsewhere in the Company’s reports and filings made from time to time with the Securities and Exchange Commission. Many of these risks and uncertainties are beyond the control of the Company, and any one of which, or a combination of which, could materially and adversely affect the results of the Company’s operations and its financial condition. We undertake no obligation to update information contained in this release.
For more information, please contact:
Matrix Service Company
Tom Long
Vice President Finance and CFO
T: 918-838-8822
E: telong@matrixservice.com
Investors and Financial Media:
Truc Nguyen
Deputy Managing Director
Grayling Global
T: 646-284-9418
E: tnguyen@hfgcg.com