Energy Stock News:
Enterprise Group (TSX: $E.TO) Announces Results for the Fourth Quarter of 2017
St. Albert, AB - February 7, 2018
(Investorideas.com Newswire) Enterprise Group, Inc. ("Enterprise," or
"the Company") (TSX:E), a consolidator of services to the energy sector focused primarily on
construction services and specialized equipment rental, today released its Q4
2017 and FY2017 results. (Table below).
Read this news in full at http://www.investorideas.com/CO/TSXE/news/2018/02071Q42017.asp
Key investment metrics evidencing ongoing growth:
·
Q4 2017 revenue $10.7m versus Q4 2016 at $8.3m
·
EBITDA Q4 2017 $2.56m versus Q4 2016 $1.87m
·
Net Income Q4 2017 $1.1m versus Q4 2016 loss
($9.9m)
·
EPS Q4 2017 $0.02 versus Q4 2016 loss ($0.18)
(1)
The Company's annual yearend audit is currently
under way however it has not yet been completed. The financial figures
presented in this release are reported in Canadian dollars, have been prepared
in accordance with International Financial Reporting Standards and are subject
to audit verification and adjustments. The Company expects to release its
audited consolidated yearend financial statements and MD&A no later than
March 29, 2018.
"While the business landscape has, and
continues to improve, we are maintaining our posture of rationalizing costs and
enhancing efficiencies," stated Desmond O'Kell, Senior Vice President.
"With a positive Q4 2017 EPS over the same period in 2016 and showing
significant increases in revenues and EBITDA for the same period, we look
forward to a very active and profitable 2018."
Throughout 2017, Enterprise has experienced a
meaningful increase in activity from its existing customers coupled with a
substantial surge in new customers, which has resulted in increased market
share for its four business units. Management's efforts to streamline and
maximize efficiencies have translated into improved margins, positive cash-flow
quarter after quarter and a strong return to profitability.
In the second half of 2017 the Company returned to
profitability. Q3 and Q4 2017 delivered EPS of $0.01 and $0.02 respectively,
while prior to this period the Company maintained positive cashflow through the
challenging downturn that began 2014-2015.
Previously released: On January 8th, 2018,
Enterprise announced that it had secured a one-year rental equipment supply and
services agreement valued at C$9.1 million with one of Canada's largest energy
producers focused on growing its strong portfolio of diverse resource plays.
For questions or additional information, please
contact:
Leonard Jaroszuk, President & CEO, or
Desmond O'Kell, Senior Vice-President
780-418-4400
contact@enterprisegrp.ca
Desmond O'Kell, Senior Vice-President
780-418-4400
contact@enterprisegrp.ca
Forward Looking Information
Certain statements contained in this news release
constitute forward-looking information. These statements relate to future
events or the Company's future performance. The use of any of the words
"could", "expect", "believe", "will",
"projected", "estimated" and similar expressions and statements
relating to matters that are not historical facts are intended to identify
forward-looking information and are based on the Company's current belief or
assumptions as to the outcome and timing of such future events. Actual future
results may differ materially. The Company's Annual Information Form and other
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. The Company 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.
Non-IFRS Measures
The Company uses International Financial Reporting
Standards ("IFRS"). EBITDA/EBITDAS is not a measure that has any
standardized meaning prescribed by IFRS and is therefore referred to as a non-IFRS
measure. This news release contains references to EBITDA/EBITDAS. This non-IFRS
measure used by the Company may not be comparable to a similar measure used by
other companies. Management believes that in addition to net income,
EBITDA/EBITDAS is a useful supplemental measure as it provides an indication of
the results generated by the Company's principal business activities prior to
consideration of how those activities are financed or how the results are
taxed. EBITDA/EBITDAS is calculated as net income excluding depreciation,
amortization, interest, taxes and stock based compensation.
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