TXGE Announces 60% Revenue Jump!

Good morning readers and welcome new subscribers.

In case you missed this morning’s email, today’s alert is:

TXGE – Texas Gulf Energy, Inc.

This morning we sent you our report on TXGE, a provider of energy services, oil and gas production, project management and professional consulting services to the US and international refinery, chemical, construction, mining and power industries.

TXGE’s client list is nothing we would consider small, either. Check out some of big names they have on board:

• Citgo
• BP
• Valero
• PPG
• ExxonMobil

This morning TXGE re-issused a press release Reporting a 60% Increase in Revenue to $9.1 Million in First Quarter of 2012.  An increase from $5.7MIL year-over-year is no small task. In light of such strong top-line growth, TXGE managed to accomplish a 21.6% Gross Profit up from 5.6% YoY. The gross profit improved due to improved utilization and rates. The Company has increased its employee utilization from 76% to 95%.

TXGE CEO David Mathews commented, “We are building Texas Gulf into the vertically integrated energy company we announced to our shareholders in December 2011.  Per our recent Reg FD disclosure on February 24, 2012, we believe that gross revenues in 2012 will be in the range of $40-45M, and US GAAP income is projected to be from $2.6M to $2.925M.  Our acquisitions and revenue are proceeding as expected in 2012, and we look forward to reporting more positive results throughout the year.”

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