3rd Quarter Earnings27-Sep-2010 HOUSTON, TX--(Marketwire - February 1, 2010) - TexCom, Inc. (PINKSHEETS: TEXC) has posted its financial results for the period ended September 30, 2009. While we encourage you to read the entire filed document, this release is intended to summarize some of the significant information in our earnings statement which is more fully disclosed in our earnings post.
Revenue increased 21 %, to $2,092,854 in Q-3 2009 vs. $1,727,194 in Q-3 2008. Revenue for the nine month period ending September 30, 2009 was $4,968,257, up 13% over revenue of $4,379,933 for the same period in 2008. Operating profits for the three month period and nine month period increased by 10% and 58%, respectively, compared to the previous year.
TexCom's net income of $498,299 for the third quarter 2009 and a reduction in net Loss for the first nine months of 2009 to ($36,278) from ($1,172,391) in 2008 are attributable to a combination of factors: record revenue and operating margins in the three and nine month periods ended September 30, 2009, and TexCom's increased effective ownership in its class II oil & gas waste disposal business from 36.8% in Q-2 2009 to 66.5% by the end of the third quarter.
Britt Brooks, EVP
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