CEMATRIX released its second quarter financial results this morning for the period ending June 30, 2014. Sales increased 10% over last year, reaching $3,070,504 with gross margin also slightly up over the same period year over year. Over the second quarter, the company added $1.3 million of sales orders bringing the annual amount of work under contract for 2014 to $4.5 million.
The six month reporting compared to last year saw net revenue decrease by roughly $1.5 million. This decrease can be attributed to an extraordinary Q1/13 that saw a number of 2012 projects extended into and completed in the new year.
The release also highlights management’s positive outlook for the rest of 2014, citing anticipated growth in Canadian and U.S. infrastructure sales as well as continued growth in the Western Canada oil and gas sector. In addition to the $4.5 million of work contracted for 2014, numerous other bids have been placed on projects that, if won, will result in additional work to be completed in 2014.
To view CEMATRIX’s news release, please click here.
- Brad Dryer