TexCom, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014
For the nine months, the company reported net income available to shareholders of $7,056,000, which includes the gain on the sale of the MB Environmental Services, LLC assets, increasing from $3,617,000. Revenues were $9,912,000, decreasing from $11,798,000, due to the sale of the MB Environmental Services, LLC assets in April. Operating income was $1,049,000, decreasing from $4,255,000. Operating income was impacted by the decline of revenues as noted above and the occurrence of approximately $700,000 of legal and professional fees incurred to complete divesture and acquisition transactions and complete the balance sheet restructuring. Earnings per share on a fully diluted basis were $0.87, an increase from $0.52 a year ago.