Technics Oil and Gas, the full service integrator of compression systems and process modules for the global offshore oil and gas sector,says earnings for the three months ended 30 September 2012 (4Q2012) fell 6% to $2.4 million from $2.6 million a year ago (4Q2011).
Revenues rose 10% to $25.08 million from $22.75 million.
For the full year ended 30 September 2012 (FY2012). Technics achieved an 8% rise in earnings to $20.2 million from $18.7 million a year ago (FY2011).
The group posted record high revenue of $149.7 million in FY2012. Gross profit improved 24% to $58.1 million while gross profit margins rose to 39% in FY2012 as compared to 37% in FY2011.
This was because the group executed and completed more EPCC projects that command higher margins during FY2012. Notably, revenue contribution from EPCC projects increased 30% to $58.2 million in FY2012 as compared to $44.9 million in FY2011.
No comments:
Post a Comment