Brief: Matrix Service Q3 Revenue $248.3 Million Versus $358.9 Million

Matrix Service Co

07/05/2020 24:06

May 6 (Reuters) - Matrix Service Co  MTRX.O :
    * MPANY REPORTS THIRD QUARTER 2020 RESULTS
    * Q3 ADJUSTED LOSS PER SHARE $0.02
    * Q3 REVENUE $248.3 MILLION VERSUS $358.9 MILLION
    * Q3 LOSS PER SHARE $0.21
    * BACKLOG AT END OF QUARTER WAS $727.1 MILLION
    * SUSPENDING SHARE REPURCHASES UNTIL FURTHER NOTICE
    * ELIMINATING ALL NON-CRITICAL CAPITAL EXPENDITURES FOR AT
LEAST
REMAINDER OF FISCAL 2020 AND EARLY FISCAL 2021
    * RESTRUCTURING BUSINESS TO RIGHT-SIZE COST STRUCTURE
    * EXPECTS TO INCUR AN ADDITIONAL $4.0 TO $6.0 MILLION IN
RESTRUCTURING IN Q4
    * DECIDED TO WITHDRAW FINANCIAL GUIDANCE FOR FISCAL YEAR
2020 ON
APRIL 9
    * AT MARCH 31, 2020 COMPANY HAD TOTAL LIQUIDITY OF $216.3
MILLION

Source text for Eikon:  urn:newsml:reuters.com:*:nGNX6tHlvc
Further company coverage:  MTRX.O 

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