Key Developments For ENGlobal Corporation
ENGlobal Corporation (ENG.O) (Consolidated Issue listed on NASDAQ Global Market)
ENGlobal Corporation Announces Formation of Government and Infrastructure Group;
ENGlobal Corporation announced the formation of a Government and Infrastructure business unit. This initiative will target markets that the Company believes have significant potential for ENGlobal`s services, such as providing design, installation and maintenance of various government, public sector, and international facilities. The Government and Infrastructure group will include the Company`s technical services division that provides automated fuel handling systems and instrumentation and control services to branches of the U.S. military.
ENGlobal Corporation Completes Acquisition Of PCI Management and Consulting Company
ENGlobal Corporation announced that it has completed its asset acquisition of PCI Management and Consulting Company (PCI), a privately-held engineering firm based near Chicago, Illinois. As previously reported on August 7, 2009, the Company signed a definitive agreement to acquire PCI. As part of an expedited integration plan, the Company`s newest operation will immediately be branded as "ENGlobal Power Group''.
ENGlobal Corporation Announces Acquisition of PCI Management and Consulting Company
ENGlobal Corporation announced that it has signed an asset purchase agreement with PCI Management and Consulting Company, a small, privately-held engineering firm based near Chicago, Illinois. PCI, formerly known as Power Consultants, Inc., provides engineering, consulting, and project management services, specializing in projects relating to the generation, transmission and distribution of energy. No equity will be issued, nor will any debt or liabilities be assumed in connection with this transaction. Detailed terms of the transaction, which is expected to close in the third quarter, were not disclosed.
ENGlobal Corporation And Greenline Industries, Inc. Announces Strategic Alliance
ENGlobal Corporation and Greenline Industries, Inc. announced a strategic alliance to pursue opportunities in the sustainable energy and biodiesel marketplace. This alliance will offer the alternative energy sector with a single source for delivering fully operational biodiesel production facilities. In addition to process technology and project delivery, the alliance is expected to offer a wide range of consulting services, including site selection, permitting assistance, business case consulting, and long term operations and maintenance of facilities.
ENGlobal Corporation Issues Q3 2008 Guidance Below Analysts' Estimates
ENGlobal Corporation announced that it expects third quarter 2008 revenue to be approximately $123.2 million and earnings per diluted share in the range of $0.11 to $0.13. According to Reuters Estimates, analysts are expecting the Company to report revenue of $133.7 million and EPS of $0.24 for third quarter 2008.
