Texcom Announces Results for Nine Months Ended September 30, 2017

26-Oct-2017

OKLAHOMA CITY, OK -October 26, 2017 -Texcom, Inc. (the "Company" or "Texcom"), an environmental services company serving the oil and gas industry, today announced financial results for the nine months ended September 30, 2017. Results for the six months ended September 30, 2017 were as follows:

  • Revenues totaled $1,192,000.
  • Operating loss was $308,000.
  • Interest expense was $347,000.
  • EBITDA was $143,000.
  • Net loss was $654,000.
  • Loss per share was 5.68 cents
  • Total liabilities were $8.5 million at September 30, 2017.
  • Total equity was negative $5.7 million at September 30, 2017.
  • "As noted in our second quarter report, we performed some significant repairs to our Peak SWD facility in the third quarter" stated Bob May, CEO. "This resulted in a widening loss during the third quarter. As we noted in our review of2016 results, our bank has extended our loan maturity until January 31, 2018, and we are current on all of our loan obligations."

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