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ENGlobal Corp. (ENG) Attributes Corporate Progress to Skilled Global Workforce
Houston-headquartered ENGlobal provides engineering and related project services to domestic and international clients in the energy sector. Operating through its Automation and Engineering segments, ENGlobal deploys 29 years of experience through a global workforce focused on delivering safe, effective and cost-efficient solutions.
ENGlobal’s skilled automation staff provides a wide range of automation and control system application projects, and strategically leads each product from conception through optimization. The Engineering (EPCM) segment, which provides consulting services for the development, management and execution of projects requiring professional engineering, construction management, and related support services, is accredited with an outstanding safety performance record. The segment has completed nearly 23 million man-hours without a lost time injury.
Engineering News Record magazine for more than a decade has ranked ENGlobal a Top 500 engineering design firm, recognizing the company’s growth, management and engineering capabilities. ENGlobal has also been recognized by Business Week magazine, the Houston Chronicle newspaper and American Executive magazine.
ENGlobal’s skilled staff, global reputation and capabilities have generated multiple alliance agreements with industry leading clients and an increasingly hardy pattern of growth. In the 12 months of 2014 ENGlobal turned to net income of $6.0 million, or EPS of $0.22, compared to a loss of $2.3 million, or a loss of $0.08 per diluted share, the year prior; revenues increased 21.1% to $107.9 million while gross profit margin increased 530 basis points to 21.7%.
The 2014 results exceeded the company’s financial targets for growth and created an enhanced position of opportunity for the remainder of 2015.
“I would like to sincerely congratulate the outstanding men and women of ENGlobal for their contributions toward a successful 2014. We will not be immune to some industry headwinds during 2015, but are currently encouraged by the continued level of spending by our largely midstream and downstream clientele. Having regained our footing once again, we now expect to explore acquisition opportunities for external growth,” William Coskey, P.E., chairman and CEO of ENGlobal, stated in an earlier news release.
For more information visit www.englobal.com
