MATRIX SERVICE COMPANY ANNOUNCES FISCAL 2021 FOURTH QUARTER AND FULL YEAR RESULTS

September 13, 2021

TULSA, Okla., Sept. 13, 2021 (GLOBE NEWSWIRE) — Matrix Service Company (Nasdaq: MTRX) today reported its financial results for the fourth
quarter and year ended June 30, 2021.

  • Fourth quarter revenue increased 18% to $174.9 million compared to $148.3 million in the third quarter; full year revenue of $673.4 million
  • $99.1 million of project awards in the quarter resulting in backlog of $462.6 million at June 30, 2021
  • Project awards accelerating as we moved into the first quarter of fiscal 2022, with an expected book-to-bill of over 1.0
  • Balance sheet is strong with no outstanding debt and cash of $83.9 million at June 30, 2021