NEWS & EVENTS
Williams announced today the record date and expected subscription period for its the previously-announced fully-backstopped Rights Offering to raise proceeds of $7 million. The proceeds from the rights offering will be used for working capital to fund the Company’s strategic growth initiatives and for general corporate purposes.
Williams reaffirmed its guidance for 2019. The Company expects 2019 revenue to be approximately $230 million to $240 million compared with revenue of $188.9 million in 2018. Gross margin is expected to be approximately 11% to 13% and selling, general and administrative expenses are anticipated to be in the range of 8% to 9% of revenue. Adjusted EBITDA* for 2019 is expected to be approximately $10 million to $12 million.
Williams Industrial Services Group Awarded Contract to Provide Services for Nuclear Decommissioning Program
Williams announced today that it has been awarded a Master Services Agreement to support Comprehensive Decommissioning International, LLC (“CDI”) in the decommissioning of shut down nuclear plants that have been acquired by subsidiaries of Holtec International.
Williams today announced that its subsidiary, WISG Canada, Ltd. (“Williams Canada”), was awarded a one-year, C$40 million contract to manage project controls for Bruce Power in Ontario, Canada. The project is included in 2019 total backlog.
Williams Industrial Services Group Increases Revolving Credit Facility to $25 million to Fund Strategic Growth Initiatives
Williams announced it has successfully amended the terms of its revolving credit facility with Midcap Financial (the “Revolver”), increasing borrowing capacity by $10 million to $25 million and extending the maturity of the facility by one year to October 11, 2022.
Williams announced today that it is planning to complete the refinancing of its current debt agreements in January 2020.
A replay will be available from 1:00 p.m. Eastern Time through Friday, November 29, 2019. To listen to the audio replay, dial 412-317-6671 and enter conference ID number 13696050.
Williams Industrial Services Group Announces Plan for $7 million Rights Offering to Stockholders with Backstop Commitment
Williams announced today that it has filed a registration statement on Form S-1 with the Securities and Exchange Commission (the “SEC”) for a rights offering (the “Rights Offering”) to existing holders of its common stock.
Williams announced the appointment of Randall R. Lay as Senior Vice President and Chief Financial Officer effective today.
Williams Industrial Services Group Achieves Earnings per Share of $0.07 from Continuing Operations in Second Quarter 2019
Williams today reported its financial results for its second quarter and six months ended June 30, 2019.
Instrumental throughout the restructuring of Williams into a single operating business as well as the intensive effort required for the restatement of 2014 and prior financials.