Through its engineering and construction group, ENGlobal
Corp. (NASDAQ: ENG) delivers innovative, cost-effective automation and
specialty construction projects for customers around the world. Consistently
included on Engineering News Record magazine’s annual list of the top
engineering design firms for more than a decade, the company leverages a wealth
of industry experience to serve a variety of market sectors – including
alternative energy, government, power generation, upstream, midstream,
downstream, synthetic gas and pulp and paper. Since being founded more than
three decades ago, ENGlobal has built a global reputation for its ability to
design state-of-the-art plant automation systems and deliver complex
midstream/downstream projects complete with integrated automation packages.
Despite slumping energy prices throughout 2015, ENGlobal has
maintained profitability in recent months by building on this reputation. In
the second quarter of this year, the company recorded a mild year-over-year
increase in total revenue from its engineering and construction segment while
maintaining strong profit margins. With working capital of $25.4 million and no
borrowings under its current credit facility, as of its latest update, ENGlobal
is in a favorable position to continue building on these results moving
forward.
“ENGlobal’s response to the current energy marketplace has
been to increase our efforts in developing new business,” William Coskey, P.E.,
chairman and chief executive officer of ENGlobal, stated in a news release.
“While we are excited about several new opportunities and client relationships
that this internal process has produced, it also appears to be a great time to
consider strategic acquisitions.”
In support of its efforts to strengthen its midstream
project execution and automation engineering business, ENGlobal recently
supplemented its management team with more than 50 years of combined industry
experience through the addition of two key professionals in newly created
positions. John Offutt, the company’s new general manager of midstream
projects, and Robert Sammons, the company’s new general manager of automation
engineering, are expected to play key roles in ENGlobal’s efforts to promote
strong financial growth in the months to come.
With a bolstered leadership team and an established foothold
in the global energy sector, ENGlobal is in a favorable position to build upon
its recent financial results while promoting sustainable returns in the future.
For prospective shareholders, the company’s ability to remain profitable with
energy prices hovering near six-year lows is a promising indicator of its
potential when the market begin to recover.
For more information, visit www.englobal.com
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