Edit ModuleShow Tags

NGSG’s Rental Revenues Climb 16%

Push Second Quarter Earnings US$2 Million Higher


Published:

Natural Gas Services Group of Midland, Texas, said its second quarter revenues rose to US$22 million, up from US$20.3 million in the corresponding period of 2013, due to a 16% gain in rental revenue.

The increase to US$19.5 million from US$16.7 million more than offset a US$1 million drop in compressor sales.

Earnings before interest, taxes and depreciation (EBITDA) were US$10.4 million, compared to US$10.2 million for the similar period of 2013. Net income fell to US$3.4 million from US$3.8 million due to the lower compressor sales and a higher depreciation expense.

“Our 16% year-over-year rental revenue growth continued at a strong pace with gross margins in this product line, and the company as a whole, strengthening again this quarter. Shipments of gas compressors into liquids and oil-shale oriented basins continued at a good rate and our planned fabrication expansion is on track to open in the fourth quarter of this year,” said Stephen Taylor, president and CEO.

“Compressor sales volumes were off a bit this quarter due to some delayed orders, but our backlog is intact and we anticipate that this equipment will ship through the balance of the year.”

Edit ModuleShow Tags

Archive »Recent Articles

Exline, Miba Bearings Announce Partnership

Exline, Inc., a family owned gas compression service and equipment provider headquartered in Salina, Kansas, has announced a new partnership with Miba Bearings.

Call For Papers

J-W Energy Annouces Executive Management Changes

New Headquarters For Gardner Denver

Passing The Test