SOURCE: TexCom, Inc.

TexCom, Inc.

February 01, 2010 09:40 ET

TexCom, Inc. Releases 3rd Quarter Earnings

HOUSTON, TX--(Marketwire - February 1, 2010) - TexCom, Inc. (PINKSHEETS: TEXC) has posted its financial results for the period ended September 30, 2009. While we encourage you to read the entire filed document, this release is intended to summarize some of the significant information in our earnings statement which is more fully disclosed in our earnings post. Complete information can be found at

The following is a summary of certain historical financial information for TexCom, Inc and subsidiaries for the three and nine months ending September 30, 2009 and September 30, 2008.

                        Three months ended          Nine months ended
                           September 30                September 30
                    --------------------------  --------------------------
                        2009          2008          2009          2008
                    ------------- ------------  ------------- ------------
Gross Revenues      $   2,092,854 $  1,727,194  $  4,968,257  $  4,379,933
Operating Profit
 (Loss)                   825,814      752,633     2,260,056     1,434,569
Net Income (Loss)   $     498,299 $   (264,590) $    (36,278) $ (1,172,391)

 Shares Outstanding    50,009,580   46,770,499    50,009,580    42,835,670
Income (Loss) Per
 Share              $         .01 $       (.01) $       (.01) $       (.03)

Revenue increased 21 %, to $2,092,854 in Q-3 2009 vs. $1,727,194 in Q-3 2008. Revenue for the nine month period ending September 30, 2009 was $4,968,257, up 13% over revenue of $4,379,933 for the same period in 2008. Operating profits for the three month period and nine month period increased by 10% and 58%, respectively, compared to the previous year.

TexCom's net income of $498,299 for the third quarter 2009 and a reduction in net Loss for the first nine months of 2009 to ($36,278) from ($1,172,391) in 2008 are attributable to a combination of factors: record revenue and operating margins in the three and nine month periods ended September 30, 2009, and TexCom's increased effective ownership in its class II oil & gas waste disposal business from 36.8% in Q-2 2009 to 66.5% by the end of the third quarter.

About TexCom

TexCom, Inc., headquartered in Houston, Texas, is a growth-oriented company with its primary focus on the production of biodiesel and the disposal of nonhazardous wastes. Domestically, TexCom disposes of nonhazardous materials generated by oil and gas exploration and production and is expanding its interests in disposal of nonhazardous industrial wastewater, serving the refining and petrochemical industries.

For further information on TexCom Resources please visit:

Forward-Looking Statements

This press release may contain forward-looking statements, including information about management's view of TexCom, Inc.'s future expectations, plans and prospects. In particular, when used in the preceding discussion, the words "believes," "expects," "intends," "plans," "anticipates," or "may," and similar conditional expressions are intended to identify forward-looking statements. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, which may cause the results of TexCom, Inc., its divisions and concepts to be materially different than those expressed or implied in such statements. Unknown or unpredictable factors also could have material adverse effects on TexCom's future results. The forward-looking statements included in this press release are made only as of the date hereof. TexCom cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, TexCom undertakes no obligation to update these statements after the date of this release, except as required by law, and also takes no obligation to update or correct information prepared by third parties that are not paid for by TexCom.

Contact Information

  • Contacts:
    TexCom, Inc.
    Management contact
    Britt Brooks, EVP
    Email Contact: Email Contact