ENGlobal’s decision to trim the fat
and redouble efforts on their core automation and engineering segments, a
process which began back in 2012, seems to have paid off rather well
considering the 26.8% YoY jump in nine-month revenues (period ending September
27) to $81M reported earlier this month, with $5.2M in net earnings, or $0.19
per diluted share. Margins have improved sharply, while project execution
across the engineering and construction, automation engineering/integration,
and subsea controls/integration segments has been exceptional, with a renewed
emphasis on customer service helping to sustain momentum.
For a company that specializes in a
broad array of design and engineering tasks, as well as the installation,
operation and maintenance of facilities (including global U.S. Defense industry
turnkey automation and instrumentation solutions for diverse government and
public sector interests), tight execution and relationship management is key.
The company’s recent results are a testament to ENGlobal’s increasingly
laser-like focus and client retention speaks volumes about how serious they are
when it comes to delivering results for old and new clients alike. ENG’s
efforts to hone their focus and deliver top-line results in their most
profitable areas have really put a spotlight on the core engineering and
automation offerings. Moreover, this focusing has allowed ENG to substantially
grow their core operating areas, and this Houston-based company even managed
pull down the number one slot for market return on the Houston Chronicle’s top
100 list of companies.
ENGlobal came in first this June on
the Chronicle 100, an independent annual report put out by Houston’s daily
newspaper, which looks at public companies throughout the city and ranks them
according to overall market return performance, using criteria like annual
revenue growth, total revenue, EPS, and the total return to shareholders over
the span of a single year. The company’s automation team was a major component
of this latest victory, as they pack years of expertise into a punch hitting
hard and fast across a wide range of industries. The automation team’s ability
to produce fully integrated control, process and power solutions is one of the
secret’s to ENG’s success, as they are able to handle project executions in a
soup-to-nuts fashion, encompassing everything from assembly, fabrication and
programming, to in-house testing and documentation.
For example, earlier this year, ENG
reported on a slew of automation awards totaling approximately $10M. From a
large automated pipe handling concern’s award for procurement, testing and
integration of drilling/pipe handling control systems (complete with
programmable logic controllers for diagnostics and resident data processing
systems), to a similar award for work in analyzer shelters and remote
instrument enclosures by a big refiner, ENG has received and continues to
receive lucrative project awards for the exemplary solutions provided by the
company’s automation division. Professional execution of complete process
control integration services, from drawing board to installation, are
particularly key when it comes to stuff like the modular enclosures used in the
more difficult areas of energy handling, recovery, and refining. Aspects of
ENG’s solutions, like single-source responsibility from start to finish and
consistent, standardized programming of the software utilized, are absolutely
essential when it comes to things like control cabins for drilling, electrical
substations, and blast-resistant process units at a refinery.
The extensive expertise of ENG’s
automation team spans multiple sectors, allowing them to handle just about
anything when it comes to engineering and implementing automation and control
systems, as well as guiding the process from conception, through to operations
and optimization. Furthermore, when it comes to system’s integration, offerings
like ENGlobal’s field-proven industrial HVAC solutions, assembled and tested
on-site at the company’s 80k square foot Houston facility, speak volumes about
how advanced their capabilities truly are. These systems aren’t chopped and
shopped commercial rebrands like you might see elsewhere, they are designed and
built from the ground up to meet and even exceed precise application
requirements, ranging from wall-mounted 2 ton units up to 30 ton, redundant
slid-mounted units.
Another prime example of the
company’s automation integration expertise is their range (250 kW to 8MW) of
customized, factory built power islands for electricity generation, which can
run off a variety of fuel types, from gas and liquids, to wellhead gas and
distillate fuel oil. Unique fusions of all the requisite components (from micro
turbines and fuel processing equipment, to onboard automation/SCADA and
electrical distribution hardware) needed to realize proven, portable electrical
generation, ENGlobal’s power islands can be designed, manufactured and shipped
out to customers within 90 days, making them perfect for operations like remote
oil and gas production, offshore platforms and a whole host of other industrial
applications.
For more information on ENGlobal
Corp., visit: www.ENGlobal.com
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