TSX Venture: "DAL"
EDMONTON, Jan. 23, 2013 /CNW/ - John Babic, President and CEO of Dalmac Energy Inc. ("Dalmac") (TSX Venture "DAL") is pleased to provide revenue guidance and a corporate update to shareholders and investors. The third quarter is typically the Company's busiest and this year has been no different. Dalmac is well on its way to again posting record revenues for the current fiscal year ending April 30, 2013 with sales expected to exceed $40 million.
Dalmac further reports that is has been successful in acquiring several new contracts, the largest of which is for a major North American producer which has committed to a specified number of Dalmac's truck fleet to be utilized on a 24-hour standby basis until spring break-up. This is a significant contract for Dalmac which can be expanded into further revenue opportunities with this top tier client.
The Company has also taken delivery of a number of new trucks, trailers, pickers and other equipment as part of its previously reported $6.5 million equipment expansion. The equipment is fully booked upon service commencement. The remainder of the equipment, valued at approximately $3 million, is expected to be delivered by mid-February 2013.
Approximately 75% of the Company's annual revenue is recurring work, i.e. fluid transfers and servicing of existing production, while the remaining 25% is contributed from drilling, fracing, completions and maintenance work for new and existing customers. The Company has been actively overhauling its equipment inventory over the past few months as it ramps up its fleet to meet stringent operating parameters and increasing demand. While staffing levels and wage costs in the industry continue to be challenging, Dalmac is confident that current positive industry indicators, an expanded rental fleet, and recently booked equipment contracts will continue to translate into strong revenue growth through fiscal 2013 and well into fiscal 2014.
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SOURCE: Dalmac Energy Inc.
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