HOUSTON, TX — (Marketwire) — 02/21/12 — TexCom, Inc. (PINKSHEETS: TEXC) (the “Company”
or “TexCom”), an environmental services company serving the oil and gas
industry, today announced record financial results for the full year ended
December 31, 2011.
Financial Highlights for 2011 Compared to 2010:
Revenues totaled $10.52 million, rising 20% from $8.76 million.
Gross profit margin increased to 56% from 55%.
Operating income climbed 13% to $4.04 million from $3.57 million.
Net income available to shareholders more than doubled, increasing 106%
to $1.79 million from $869,000.
Earnings per share on a fully diluted basis were $0.03, up from $0.01.
“We achieved a number of important milestones in 2011, including posting
new records for revenue, operating income and net earnings. Our strong
financial performance at M.B. Environmental Services is clearly
demonstrating that our organic growth strategies are paying off and
delivering profitability momentum that we fully expect to maintain and
accelerate as we progress through the current year. Moreover, given the
successful launch of our new Eagle Ford Environmental Services operations
in South Texas last month, we remain highly confident that our positive
outlook for 2012 and long term growth expectations will be fully realized,”
stated Louis Ross, Chairman, President and CEO of TexCom.
TexCom, headquartered in Houston, Texas, is a growth-oriented environmental
services company with a primary focus on the disposal of nonhazardous
wastes generated by the oil & gas industry. For more information, please
visit .
This press release and the presentation referenced above may contain
forward-looking statements, including information about management–s view
of TexCom, Inc.–s future expectations, plans and prospects. In particular,
when used in the preceding discussion, the words “believes,” “expects,”
“intends,” “plans,” “anticipates,” or “may,” and similar conditional
expressions are intended to identify forward-looking statements. Any
statements made in this news release or such presentation other than those
of historical fact, about an action, event or development, are
forward-looking statements. These statements involve known and unknown
risks, uncertainties and other factors, which may cause the results of
TexCom, Inc., its divisions and concepts to be materially different than
those expressed or implied in such statements. Unknown or unpredictable
factors also could have material adverse effects on TexCom–s future
results. The forward-looking statements included in this press release and
the presentation are made only as of the date hereof. TexCom cannot
guarantee future results, levels of activity, performance or achievements.
Accordingly, you should not place undue reliance on these forward-looking
statements. Finally, TexCom undertakes no obligation to update these
statements after the date of this release, except as required by law, and
also takes no obligation to update or correct information prepared by third
parties that are not paid for by TexCom.
FOR ADDITIONAL INFORMATION, PLEASE CONTACT:
Elite Financial Communications Group, LLC
Dodi Handy
President and CEO
Twitter: dodihandy
For Media:
Kathy Addison
COO
Twitter: kathyaddison
(407) 585-1080