2011 Financial Results...
02-Nov-2011 for the nine months ended September 30, 2011.TexCom, Inc. <http://www.texcomresources.com/> (Pink Sheets:TEXC), an environmental services company for the oil and gas industry, today announced its third quarter 2011 financial results for the nine months ended September 30, 2011.
Financial Highlights for Nine Months Ended September 30, 2011 Compared to Nine Months Ended September 30, 2011, (as restated1):
- Revenues climbed 21.5% to $8.11 million from $6.68 million.
- Gross profit margin improved, rising to 59% from 57% of revenues.
- Operating income totaled $3.47 million, up 19.7% from $2.90 million.
- Net income available to shareholders increased 142.3% to $2.08 million from $859,000.
- Earnings per share on a fully diluted basis rose to $0.03 from $0.01.
Commenting on the results, Lou Ross, Chairman, President and CEO of TexCom, stated, "We are particularly proud of the fact that despite higher general and administrative expenses related to new business development and preparations for an SEC registration, we generated a 142% increase in net income compared to the first nine months of the previous year. Given our high level of confidence that TexCom will extend its record revenue and earnings performance through the fourth quarter, we look forward to delivering a full year of exceptional organic growth to our shareholders."
To view the news announcement in its entirety, please click on the link provided below.
If you would like to learn more about the Company or would like to interview management, please contact the Elite Media Group at 407-585-1080 or via email at TEXC@efcg.net
Please click on the link below to view:
TEXC11211.pdf <http://app.efcg.net/uploads/advisory/TEXC11211.pdf>
About TexCom, Inc.
TexCom, headquartered in Houston, Texas, is a growth-oriented environmental services company with a primary focus on the disposal of nonhazardous wastes generated by the oil & gas industry. TexCom is expanding its interests to disposal of nonhazardous industrial wastewater, serving the refining and petrochemical industries. For more information, please visit www.texcomresources.com
Do you have questions or want to receive an investor kit regarding TexCom, Inc.? Please contact Elite Financial Communications Group at 407-585-1080 or via email at TEXC@efcg.net . Thank you!
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