Exhibit 99

MATRIX SERVICE ANNOUNCES RESULTS FOR THE SECOND QUARTER ENDED DECEMBER 31, 2010

TULSA, OK – February, 7, 2011 – Matrix Service Co. (Nasdaq: MTRX) today reported its financial results for the three and six months ended December 31, 2010.

Second Quarter of Fiscal 2011 Results

Revenues for the second quarter ended December 31, 2010 were $175.3 million, an increase of $24.9 million, or 16.6%, from consolidated revenues of $150.4 million in the same period a year earlier. Net income for the second quarter of fiscal 2011 was $5.3 million, or $0.20 per fully diluted share. Net income was $4.5 million, or $0.17 per fully diluted share, in the comparable period a year earlier.

Michael J. Hall, Chairman of the Board of Directors of Matrix Service Company, said, “We are pleased with the results for the quarter and the first half of fiscal 2011. We are also encouraged by the volume of bid activity and improving market conditions in both the Construction Services and Repair and Maintenance Services segments.”

Consolidated gross profit was $19.8 million in the second quarter of fiscal 2011 compared to $18.4 million in the second quarter of fiscal 2010. The increase of $1.4 million was due to higher revenues, partially offset by lower gross margins which decreased to 11.3% in the second quarter of fiscal 2011 compared to 12.3% in the comparable period a year earlier. The decrease in gross margins was due to lower direct margins partially offset by the favorable effect of improved recovery of construction overhead costs in the second quarter of fiscal 2011. Selling, general and administrative expenses for the second quarter of fiscal 2011 were $11.1 million compared to $11.4 million in the second quarter of fiscal 2010.

Six Month Fiscal 2011 Results

Revenues for the six months ended December 31, 2010 were $327.1 million, an increase of $39.0 million, or 13.5%, from consolidated revenues of $288.1 million in the same period a year earlier. Net income for the six months ended December 31, 2010 was $8.4 million, or $0.32 per fully diluted share. Net income was $9.0 million, or $0.34 per fully diluted share, in the comparable period a year earlier.

Consolidated gross profit was $35.5 million for the six months ended December 31, 2010 compared to $35.9 million in the prior fiscal year period. The decrease of $0.4 million was due to lower gross margins which decreased to 10.8% in the six months ended December 31, 2010 compared to 12.4% in the same period a year earlier. The decrease in gross margins was due to lower direct margins partially offset by the favorable effect of improved recovery of construction overhead costs. Selling, general and administrative expenses for the six months ended December 31, 2010 were $21.7 million compared to $21.5 million for the six months ended December 31, 2009.

Financial Position

At December 31, 2010, Matrix Service’s cash balance was $43.7 million. The Company did not borrow under its revolving credit facility during the six months ended December 31, 2010.

Backlog

Consolidated backlog decreased $29.2 million, or 7.4%, to $366.0 million as of December 31, 2010 compared to $395.2 million as of September 30, 2010. The December 31, 2010 backlog remains above the fiscal 2010 year end backlog of $353.2 million.

Earnings Guidance

Matrix Service expects the second half of fiscal 2011 to be consistent with the first half of the fiscal year, with the fourth quarter being much stronger than the third quarter. Further, the Company expects gross margins to increase slightly in the last half of the fiscal year. As a result, Matrix Service is narrowing the range of fiscal 2011 earnings guidance to $0.60 to $0.75 per fully diluted share as compared to its previous earnings guidance of $0.60 to $0.80 per fully diluted share.

Conference Call Details

In conjunction with the press release, Matrix Service will host a conference call with Michael J. Hall, Chairman of the Board of Directors, Kevin S. Cavanah, vice president and CFO, and Joseph F. Montalbano, vice president and COO. The call will take place at 11:00 a.m. (Eastern) / 10:00 a.m. (Central) today and will be simultaneously broadcast live over the Internet at www.matrixservice.com or www.vcall.com. Please allow extra time prior to the call to visit the site and download the streaming media software required to listen to the Internet broadcast. The online archive of the broadcast will be available within one hour of completion of the live call.

About Matrix Service Company

Matrix Service Company provides engineering, construction and repair and maintenance services principally to the petroleum, petrochemical, power, bulk storage terminal, pipeline and industrial gas industries.

The Company is headquartered in Tulsa, Oklahoma, with regional operating facilities located in California, Illinois, Michigan, New Jersey, Oklahoma, Pennsylvania, Texas, and Washington in the U.S. and in Canada.

This release contains forward-looking statements that are made in reliance upon the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are generally accompanied by words such as “anticipate,” “continues,” “expect,” “forecast,” “outlook,” “believe,” “estimate,” “should” and “will” and words of similar effect that convey future meaning, concerning the Company’s operations, economic performance and management’s best judgment as to what may occur in the future. Future events involve risks and uncertainties that may cause actual results to differ materially from those we currently anticipate. The actual results for the current and future periods and other corporate developments will depend upon a number of economic, competitive and other influences, including those factors discussed in the “Risk Factors” and “Forward Looking Statements” sections and elsewhere in the Company’s reports and filings made from time to time with the Securities and Exchange Commission. Many of these risks and uncertainties are beyond the control of the Company, and any one of which, or a combination of which, could materially and adversely affect the results of the Company’s operations and its financial condition. We undertake no obligation to update information contained in this release.

For more information, please contact:

Matrix Service Company

Kevin Cavanah

Vice President and CFO

T: 918-838-8822

E: kcavanah@matrixservice.com

Matrix Service Company

Condensed Consolidated Statements of Income

(In thousands, except per share data)

(unaudited)

	Three Months Ended						Six Months Ended
	December 31, 2010			December 31, 2009			December 31, 2010			December 31, 2009
Revenues	$	175,252		$	150,425		$	327,090		$	288,075
Cost of revenues		155,484			131,983			291,620			252,215
Gross profit		19,768			18,442			35,470			35,860
Selling, general and administrative expenses		11,136			11,376			21,725			21,463
Operating income		8,632			7,066			13,745			14,397
Other income (expense):
Interest expense		(197	)		(188	)		(367	)		(362	)
Interest income		9			17			22			60
Other		83			461			110			544
Income before income tax expense		8,527			7,356			13,510			14,639
Provision for federal, state and foreign income taxes		3,240			2,823			5,134			5,597
Net income	$	5,287		$	4,533		$	8,376		$	9,042
Basic earnings per common share	$	0.20		$	0.17		$	0.32		$	0.34
Diluted earnings per common share	$	0.20		$	0.17		$	0.32		$	0.34
Weighted average common shares outstanding:
Basic		26,400			26,273			26,372			26,234
Diluted		26,628			26,459			26,584			26,449

Matrix Service Company

Condensed Consolidated Balance Sheets

(In thousands)

(unaudited)

	December 31, 2010			June 30, 2010
Assets
Current assets:
Cash and cash equivalents	$	43,684		$	50,899
Accounts receivable, less allowances (December 31, 2010 - $1,574 and June 30, 2010 - $1,404)		109,949			87,327
Costs and estimated earnings in excess of billings on uncompleted contracts		36,952			40,920
Inventories		2,401			3,451
Income taxes receivable		655			1,779
Deferred income taxes		5,648			8,073
Prepaid expenses		3,220			4,557
Other current assets		1,096			1,519
Total current assets		203,605			198,525
Property, plant and equipment at cost:
Land and buildings		27,801			27,859
Construction equipment		52,556			52,086
Transportation equipment		19,558			19,192
Office equipment and software		14,758			14,358
Construction in progress		4,292			1,251
		118,965			114,746
Accumulated depreciation		(65,371	)		(61,817	)
		53,594			52,929
Goodwill		27,384			27,216
Other intangible assets		4,024			4,141
Other assets		2,338			1,997
Total assets	$	290,945		$	284,808

Matrix Service Company

Condensed Consolidated Balance Sheets (continued)

(In thousands, except share data)

(unaudited)

	December 31, 2010			June 30, 2010
Liabilities and stockholders’ equity
Current liabilities:
Accounts payable	$	35,804		$	44,769
Billings on uncompleted contracts in excess of costs and estimated earnings		39,601			28,877
Accrued insurance		7,754			8,257
Accrued wages and benefits		12,786			13,538
Current capital lease obligation		522			772
Other accrued expenses		2,821			6,572
Total current liabilities		99,288			102,785
Long-term capital lease obligation		96			259
Deferred income taxes		4,150			4,179
Total liabilities		103,534			107,223
Commitments and contingencies		—			—
Stockholders’ equity:
Common stock - $.01 par value; 60,000,000 shares authorized; 27,888,217 shares issued as of December 31, 2010, and June 30, 2010		279			279
Additional paid-in capital		112,328			111,637
Retained earnings		89,625			81,252
Accumulated other comprehensive income		1,251			495
		203,483			193,663
Less: Treasury stock, at cost – 1,469,578 shares as of December 31, 2010, and 1,546,512 shares as of June 30, 2010		(16,072	)		(16,078	)
Total stockholders’ equity		187,411			177,585
Total liabilities and stockholders’ equity	$	290,945		$	284,808

Results of Operations

(in thousands)

	Construction Services		Repair and Maintenance Services		Other		Total
Three Months Ended December 31, 2010
Gross revenues	$	107,886	$	69,855	$	—	$	177,741
Less: Inter-segment revenues		2,282		207		—		2,489
Consolidated revenues		105,604		69,648		—		175,252
Gross profit		12,815		6,953		—		19,768
Operating income		6,144		2,488		—		8,632
Segment assets		141,477		101,964		47,504		290,945
Capital expenditures		1,286		93		891		2,270
Depreciation and amortization expense		1,516		1,209		—		2,725
Three Months Ended December 31, 2009
Gross revenues	$	84,511	$	69,849	$	—	$	154,360
Less: Inter-segment revenues		3,929		6		—		3,935
Consolidated revenues		80,582		69,843		—		150,425
Gross profit		11,894		6,548		—		18,442
Operating income		5,006		2,060		—		7,066
Segment assets		120,697		88,760		68,806		278,263
Capital expenditures		234		719		863		1,816
Depreciation and amortization expense		1,647		1,300		—		2,947
Six Months Ended December 31, 2010
Gross revenues	$	207,506	$	124,286	$	—	$	331,792
Less: Inter-segment revenues		4,388		314		—		4,702
Consolidated revenues		203,118		123,972		—		327,090
Gross profit		24,159		11,311		—		35,470
Operating income		10,923		2,822		—		13,745
Segment assets		141,477		101,964		47,504		290,945
Capital expenditures		2,158		331		2,040		4,529
Depreciation and amortization expense		3,065		2,458		—		5,523
Six Months Ended December 31, 2009
Gross revenues	$	165,090	$	130,025	$	—	$	295,115
Less: Inter-segment revenues		6,837		203		—		7,040
Consolidated revenues		158,253		129,822		—		288,075
Gross profit		22,990		12,870		—		35,860
Operating income		10,272		4,125		—		14,397
Segment assets		120,697		88,760		68,806		278,263
Capital expenditures		502		806		1,541		2,849
Depreciation and amortization expense		3,330		2,636		—		5,966

Segment revenue from external customers by market is as follows:

	Construction Services		Repair and Maintenance Services		Total
	(In thousands)
Three Months Ended December 31, 2010
Aboveground Storage Tanks	$	49,545	$	21,868	$	71,413
Downstream Petroleum		22,648		28,386		51,034
Electrical and Instrumentation		27,385		19,394		46,779
Specialty		6,026		—		6,026
Total	$	105,604	$	69,648	$	175,252
Three Months Ended December 31, 2009
Aboveground Storage Tanks	$	36,037	$	25,076	$	61,113
Downstream Petroleum		20,531		39,526		60,057
Electrical and Instrumentation		15,988		5,241		21,229
Specialty		8,026		—		8,026
Total	$	80,582	$	69,843	$	150,425
Six Months Ended December 31, 2010
Aboveground Storage Tanks	$	90,325	$	43,100	$	133,425
Downstream Petroleum		43,575		50,792		94,367
Electrical and Instrumentation		57,307		30,080		87,387
Specialty		11,911		—		11,911
Total	$	203,118	$	123,972	$	327,090
Six Months Ended December 31, 2009
Aboveground Storage Tanks	$	67,431	$	51,867	$	119,298
Downstream Petroleum		44,964		67,207		112,171
Electrical and Instrumentation		29,475		10,748		40,223
Specialty		16,383		—		16,383
Total	$	158,253	$	129,822	$	288,075

Backlog

We define backlog as the total dollar amount of revenues that we expect to recognize as a result of performing work that has been awarded to us through a signed contract that we consider firm. The following contract types are considered firm:

• fixed-price arrangements;

• minimum customer commitments on cost plus arrangements; and

• certain time and material contracts in which the estimated contract value is firm or can be estimated with a reasonable amount of certainty in both timing and amounts.

For long-term maintenance contracts we include only the amounts that we expect to recognize into revenue over the next 12 months. For all other arrangements, we calculate backlog as the estimated contract amount less the revenue recognized as of the reporting date.

Three Months Ended December 31, 2010

The following table provides a summary of changes in our backlog for the three months ended December 31, 2010:

	Construction Services			Repair and Maintenance Services			Total
	(In thousands)
Backlog as of September 30, 2010	$	224,964		$	170,263		$	395,227
New backlog awarded		85,108			60,884			145,992
Revenue recognized on contracts in backlog		(105,604	)		(69,648	)		(175,252	)
Backlog as of December 31, 2010	$	204,468		$	161,499		$	365,967

Six Months Ended December 31, 2010

The following table provides a summary of changes in our backlog for the six months ended December 31, 2010:

	Construction Services			Repair and Maintenance Services			Total
	(In thousands)
Backlog as of June 30, 2010	$	197,675		$	155,541		$	353,216
New backlog awarded		209,911			129,930			339,841
Revenue recognized on contracts in backlog		(203,118	)		(123,972	)		(327,090	)
Backlog as of December 31, 2010	$	204,468		$	161,499		$	365,967