Agoracom Blog

FEATURE: $AAO.ca Augusta Industries 3rd Quarter Results: Developments Beyond the Numbers

Posted by Er at 5:22 PM on Thursday, November 30th, 2017

 

Augusta Industries 3rd quarter results announced today include developments that require observation beyond the revenue numbers, Marcon’s backlog of sales revenue of $1.9M notwithstanding.  FOX-TEK’s business developments are the reason why shareholders can confidently look past the numbers contained within the Q3 results and delve into the MD&A, the achievements by Augusta this quarter are impressive when evaluating beyond just the numbers. Augusta is committed to developing its suite of services to cement itself as a company with multiple avenues of revenue generation. Have a read of this small technology company’s achievements and you will come away impressed beyond just the numbers.

Marcon:

  • $1.98 Million in backlog sales
  • Four of the backlog orders are worth $1,723,000
  • The backlogs orders are valued at $680k, $604k, $284k and $155k

Fox-Tek:

  • India – multiple technical proposals & bids on a multiple of different projects, based on many of the companies technologies
  • One oil company requested a bid for2 large EFM
  • LeakDetection Technology: 4 advancements and project list to review
  • DMATPlatform: Successfully negotiated new contracts with several clients
  • Still working closely with The Trans Africa Pipeline project
  • Completed 3 site surveys for long standing client in North America & negotiating a contract with the client to convert of the competitor’s technology to Fox-Tek’s EFM technology.

About the Corporation:

Marcon is an industrial supply contractor servicing the energy sector and a number of US Government entities. Marcon’s principal business is the sale and distribution of industrial parts and equipment (Electrical, mechanical and Instrumentation.) In addition to departments and agencies of the U.S. Government, Marcon’s major clients include Saudi Arabia-Sabic Services (Refining and Petrochemical), Bahrain National Gas Co, Bahrain Petroleum, Qatar Petroleum, Qatar Gas, Qatar Petrochemical, Gulf of Suez Petroleum, Agiba Petroleum and Burullus Gas Co.

Fox Tek develops non-intrusive asset health monitoring sensor systems for the oil and gas market to help operators track the thinning of pipelines and refinery vessels due to corrosion/erosion, strain due to bending/buckling and process pressure and temperature. The Corporation’s FT fiber optic sensor and corrosion monitoring systems allow cost-effective, 24/7 remote monitoring capabilities to improve scheduled maintenance operations, avoid unnecessary shutdowns, and prevent accidents and leaks.

 

For more information about Augusta and the proposed Spin-Off of FOX-TEK, watch this interview with Allen Lone on AGORACOM

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