Matrix Service pany(US:MTRX)2020-09-03 14:30Financial Performance & Restructuring - Matrix Service Company reported a net loss of $33074 thousand for fiscal year 2020, compared to a net income of $27982 thousand in fiscal year 2019[22,28] - The company reduced its cost structure by $45 million, representing an 18% reduction on an annualized basis[7,13] - Adjusted EBITDA for fiscal year 2020 was $36602 thousand, down from $57932 thousand in fiscal year 2019[24,28,37] - Revenue decreased from $1416680 thousand to $1100938 thousand[28] Segment Performance (Q4 2020) - Storage and Terminal Solutions segment had the highest revenue at $122617 thousand with a gross margin of 107%[25] - Oil, Gas & Chemical segment achieved a gross margin of 144% on revenue of $35115 thousand[25] - Electrical Infrastructure segment revenue was $22917 thousand with a gross margin of 40%[25] - Industrial segment revenue was $15188 thousand with a gross margin of 12%[25] Backlog & Awards - The company's backlog as of June 30, 2020, was $758465 thousand, compared to $1098349 thousand in the previous year[24,28] - Awards for fiscal year 2020 totaled $859529 thousand, down from $1296433 thousand in fiscal year 2019[24,28] - In Q4 2020, the company booked significant natural gas peak shaving project[41] Liquidity - The company's liquidity as of the end of Q4 2020 was $1934 million, comprising $100 million in cash and $934 million available under the credit facility[31]