Macro Enterprises Inc.

Macro Enterprises Inc.

November 27, 2006 08:30 ET

Macro Enterprises Inc. Announces Second Quarter Results

CALGARY, ALBERTA--(CCNMatthews - Nov. 27, 2006) - Macro Enterprises Inc. ("Macro" and or the "Company") (TSX VENTURE:MCR) is pleased to announce the financial results for the second quarter ended September 30, 2006.

The Company had revenue of $17.5 million for the three months ended September 30, 2006 compared to $10.1 million for the same period in 2005. Net income for the three month period was $2.4 million or $0.11 per share (basic) and EBITDAS(1) was $4.5 million. This compares to net income of $522,609 or $0.06 per share (basic) and EBITDAS of $1.2 million for the corresponding period in 2005.

For the six month period ending September 30, 2006, revenue was $25.3 million compared to revenue in the same period in 2005 of $16.0 million. Net income for the period was $892,333 or $0.04 per share (basic) and EBITDAS was $3.6 million. This compares to a loss of $(238,833) or $(0.03) per share (basic) and EBITDAS of $996,133 for the same period in 2005.

Readers of the financial statements filed on 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. Therefore these financial statements are not considered as being representative of the Company's expected performance over the remaining three months of the current calendar year or the first three months of the next calendar year.

The quarterly results reflect the provision of Macro's quality pipeline and facilities construction services and increased market penetration with major clients in Macro's key operating areas of northeastern British Columbia and northwestern Alberta.

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 continues to bid on significant contract work for its next two quarters and currently expects revenue over the balance of fiscal 2007 to be strong and consistent with the previous years' 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 news release may include forward-looking information that involves various risks and uncertainties including expectations of future revenues. These may include, without limitation, statements based on current expectations involving a number of risks and uncertainties related to pipeline and facilities construction and maintenance services associated with the oil and gas industry and the domestic and worldwide supplies and commodity prices of oil and gas. These risks and uncertainties include, but are not restricted to, seasonal weather patterns, current and expected oil and gas prices, demand, pricing and terms for pipeline and facilities construction services, maintaining and increasing market share, government regulation of energy and resource companies, 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. These risks and uncertainties may cause results to differ from information contained herein. 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 entirely by this notice. Further information regarding the risks and uncertainties affecting the Company are described in its "Management Discussion and Analysis" dated November 24, 2006 under "Risks and Uncertainties" which is available at

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

Contact Information