For 2006 we need to add revenues from these recently acquired companies and also presume the construction and gravel business will well outperform 2005.
From Chairman’s Letter
“On May 1, 2006, Phoenix completed the acquisition of three Texas oil and gas field service companies. Sam's Oil Country Inspections Services, Inc., CM Ideal Energy, Inc. and Ideal Energy Directional Drilling Services, Inc. are located in Kilgore, TX. Based on information provided to Phoenix by the sellers, we anticipate these acquisitions to contribute revenues of approximately $11,000,000 and operating profits of $1,900,000 in 2006.
We have also purchased United Soils, Inc. and Earth Products, Inc., located in Michigan and Louisiana, to help in the expansion of our mining and trucking operations.”
