ENSERVCO Updates Investors on 2019 First Quarter Financial Expectations
April 23 2019 - 7:00AM
ENSERVCO Corporation (NYSE American: ENSV), a diversified national
provider of specialized well-site services to the domestic onshore
conventional and unconventional oil and gas industries, today
announced it expects 2019 first quarter revenue to increase
approximately 29% year over year to approximately $26.2 million
from $20.3 million in the first quarter last year. In
addition, net income and adjusted EBITDA for the first quarter of
2019 are expected to improve over prior-year levels.
Ian Dickinson, President and CEO, said, “We are pleased to have
carried our momentum into 2019 and look forward to reporting
detailed first quarter financial results in mid-May. In the
meantime, we continue to implement process improvement initiatives
that are designed to increase fleet utilization and drive further
growth and profitability.”
About ENSERVCOThrough its various operating
subsidiaries, ENSERVCO provides a wide range of oilfield services,
including hot oiling, acidizing, frac water heating, water
transfer, and water hauling. The Company has a broad
geographic footprint covering seven major domestic oil and gas
basins and serves customers in Colorado, Montana, New Mexico, North
Dakota, Oklahoma, Pennsylvania, Ohio, Texas, Wyoming and West
Virginia. Additional information is available at
www.enservco.com
Cautionary Note Regarding Forward-Looking
StatementsThis news release contains information that is
"forward-looking" in that it describes events and conditions
ENSERVCO reasonably expects to occur in the future. Expectations
for the future performance of ENSERVCO are dependent upon a number
of factors, and there can be no assurance that ENSERVCO will
achieve the results as contemplated herein. Certain statements
contained in this release using the terms "may," "expects to," and
other terms denoting future possibilities, are forward-looking
statements. The accuracy of these statements cannot be guaranteed
as they are subject to a variety of risks, which are beyond
ENSERVCO's ability to predict, or control and which may cause
actual results to differ materially from the projections or
estimates contained herein. Among these risks are those set forth
in ENSERVCO’s annual report on Form 10-K for the year ended
December 31, 2018, and subsequently filed documents with the
SEC. Forward looking statements in this news release that are
subject to risk include the success of process improvement
initiatives and the ability to increase fleet utilization and drive
further growth and profitability. It is important that each
person reviewing this release understand the significant risks
attendant to the operations of ENSERVCO. ENSERVCO disclaims
any obligation to update any forward-looking statement made
herein.
Contact:
Jay PfeifferPfeiffer High Investor Relations,
Inc.Direct: 303-880-9000Email: jay@pfeifferhigh.com
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