ENGlobal is a specialty engineering services firm
specializing in oil and gas automation solutions, subsea control systems and
engineering and construction projects. The company offers its vast suite of
services through its automation and engineering business segments, servicing
the upstream, midstream, downstream, pulp and paper, alternative energy, and
government sectors.
ENGlobal’s Automation segment provides services
related to the design, fabrication and implementation of distributed control,
instrumentation and process analytical systems.
The Engineering segment provides consulting services
for the development, management and execution of projects requiring
professional engineering, construction management, and related support
services. Within the Engineering segment, ENGlobal’s Government Services group
is responsible for the engineering, design, installation and operation and
maintenance of various government, public sector and international facilities.
This group also specializes in the turnkey installation and maintenance of
automation and instrumentation systems for the U.S. Defense industry worldwide.
In the second quarter of 2014, ENGlobal reported
revenue growth of 32% to $27.2 million compared to the comparable quarter a
year ago. Net income was $1.6 million, or $0.05 per diluted share, compared to
a loss of $1.6 million, or a loss of $0.06 per share, in the year ago quarter.
The second quarter of 2014 marked three consecutive quarters of profit.
ENGlobal CFO Mark Hess attributes the year-over-year
improvements to initiatives executed over the last two years. With expectations
to continue this pattern of growth, the company recently secured a $10 million
revolving credit facility with Regions Bank, replacing the company’s former
facility with PNC Bank.
The Regions facility provides ENGlobal with ongoing
working capital for general corporate purposes as the company maintains its
focus on exploring external growth opportunities and capitalizing on its
differentiated expertise and proprietary technologies. ENGlobal’s overarching
vision is to become a leading provider of automation integration services and
select EPCM projects for clients worldwide.
For more information, visit www.englobal.com
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