Macro Enterprises Inc.
TSX VENTURE : MCR

Macro Enterprises Inc.

April 27, 2007 17:24 ET

Macro Enterprises Inc. Announces 2006 Year End Results

CALGARY, ALBERTA--(CCNMatthews - April 27, 2007) - Macro Enterprises Inc. ("Macro" and or the "Company") (TSX VENTURE:MCR) announces its financial results for the year ended December 31, 2006.

During the three months ended December 31, 2006, the Company received approval from the Canada Revenue Agency to change its year end to December 31 from its former year end of March 31. The change in year end to December 31 allows the Company to move the year end reporting requirements from its most active time of the year and also allows interested parties to compare the results of Macro with other companies in similar businesses that have a December 31 year end.

For the three months ended December 31, 2006, the Company had revenue of $13.7 million compared to $13.6 million for the same period in 2005. The loss for the three month period was $(672,590) or $(0.03) per share (basic) and EBITDAS (1) was $325,272. This compares to net income of $559,122 or $0.06 per share (basic) and EBITDAS of $2.5 million for the corresponding period in 2005.

The Company had revenue of $39 million for the nine months ended December 31, 2006 compared to $29.6 million for the same period in 2005. Net income for the period was $219,743 or $0.01 per share (basic) and EBITAS was $3.9 million. This compares to net income of $320,289 or $0.03 per share (basic) and EBITAS of $3.4 million for the same period in 2005.

The above information should be read in conjunction with the audited financial statements for the Company's consolidated financial statements for the nine months ended December 31, 2006 and the 12 months ended March 31, 2006 and the related management's discussion and analysis ("MD&A"), both of which are available on SEDAR at www.sedar.com.

Readers of the financial statements and MD&A should be aware that the Company operates in a seasonal industry whereby activity in the winter months is significantly higher than in the spring, summer and fall months. As a result of the change in year end, Macro's financial statements for the nine months ended December 31, 2006 do not include any winter activity during this period. Therefore, these financial statements for the year ended December 31, 2006 are not considered representative of the Company's' expected performance for a twelve month reporting period.

The increase in revenue from the previous year reflects successful bidding and additional work performed for the nine months ended December 31, 2006.The net income for the period was reduced by competitive pressures on the Company's project margins, increased amortization expense and higher general and administrative expenses primarily related to managing the public company.

The Company is a Tier 1 TSX Venture Exchange issuer. The Company conducts its operations through its wholly owned subsidiary, Macro Industries Inc. Macro's core business is providing pipeline and facilities construction and maintenance services to major companies in the oil and gas industry in northeastern British Columbia and northwestern Alberta. Notwithstanding, the uncertainty related to weakening natural gas prices and the Federal government announcement with respect to income trusts, the Company has obtained significant contract work for the first quarter of 2007 and currently expects revenue for the first quarter of 2007 to be consistent with the prior years winter results.

Macro will continue its strategy of pursuing high quality, high margin pipeline and facilities construction services to its customers and also pursue acquisition opportunities with companies that are complimentary and accretive to its existing line of business.

(1) EBITDAS - Earnings before income tax, interest, depreciation, amortization and stock-based compensation. EBITDAS is a widely used performance indicator in the oilfield services sector. EBITDAS should not be considered as an alternative to Net Income as an indicator of financial performance. EBITDAS are not measures determined in accordance with Canadian generally accepted accounting principles and therefore EBITDAS as presented may not be comparable to similarly titled measures of other companies.

Forward-Looking Statements

Certain statements in this press release include forward-looking information that involves various risks and uncertainties. These include, without limitation, statements regarding anticipated revenues for the next fiscal quarter. These risks and uncertainties include, but are not restricted to, government regulation of energy and resource companies including the recently announced changes to the taxation of income trusts, seasonal weather patterns, maintaining and increasing market share, terrorist activity, the price and availability of alternative fuels, the availability of pipeline capacity, potential instability or armed conflict in oil producing regions and the overall economic environment. For a more detailed description of these risks and uncertainties, please see the section "Risk Factors" in the Company's Annual Information Form for the fiscal period ended December 31, 2006 available on SEDAR at www.sedar.com. There can be no assurance that such forward-looking statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. These statements are based on the estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, the Company assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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