Macro Enterprises (MCR.V) today reported its 2012 2Q Results.
Second quarter results
Consolidated revenue was $27.8 million compared to $14.7 millionin the second quarter last year. The Company worked on two largerfacility projects in the quarter and several smaller jobs. In thesecond quarter last year, the Company worked on one larger facilityproject and several smaller jobs.
Operating expenses were 77.6% of revenue in the quarter comparedto 83.6% in the same quarter last year. Performance improved thisyear due to higher volumes and better project execution.
General and administrative expenses were $1.5 million downmarginally from last year. The Company has maintained a relativelysteady staff complement over the past 15 months.
Total amortization expense of $1.1 million increased by $0.2million due to a higher level of capital assets needed to sustainthe current level of activity.
Interest expense of $0.2 million was down from $0.4 million lastyear, as last year's expense included costs associated with thetemporary increase in loans from related parties.
Income tax expense in the quarter of $0.9 million was at aneffective tax rate of 26.8% which approximates the statutoryrate.
Net income was $2.6 million ($0.11 per share) compared to a netloss last year of $0.3 million (a loss of $0.01 per share).
About 18,000 shares have changed hands.
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