Aly Energy Services, Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014; Provides Financial Guidance for the Fourth Quarter of 2014
For the nine months, the company reported revenues of $27,851,000 compared to $13,562,000 a year ago. Operating income was $4,396,000 compared to $1,379,000 a year ago. Income before income tax was $3,505,000 compared to $932,000 a year ago. Net income available to common stockholders was $1,845,000 or $0.02 per basic and diluted share compared to $367,000 or $0.01 per basic and diluted share a year ago. Net cash provided by operating activities was $1,086,000 compared to $3,003,000 a year ago. Purchase of property and equipment was $10,245,000 compared to $8,167,000 a year ago. Adjusted EBITDA increased 132.4% in the first nine months of 2014 to $7.9 million compared to $3.4 million for the first nine months of 2013. EBITDA was $7,805,000 against $3,018,000 a year ago.
In the fourth quarter, the company anticipates that it will see further growth in revenues, cash flow and profitability generated by increased utilization of personnel and equipment.