UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant
to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) April 10, 2019
ENGlobal
Corporation
(Exact name of registrant as specified in its charter)
| Nevada | 001-14217 | 88-0322261 | ||
| (State or other jurisdiction | (Commission | (IRS Employer | ||
| of incorporation) | File Number) | Identification No.) |
| 654 N. Sam Houston Parkway E., Suite 400, Houston, Texas | 77060-5914 | |
| (Address of principal executive offices) | (Zip Code) |
Registrant’s telephone number, including area code: 281-878-1000
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| [ ] | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |
| [ ] | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |
| [ ] | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |
| [ ] | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company [ ]
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ ]
Item 7.01. Regulation FD Disclosure.
On April 9, 2019, ENGlobal Corporation issued a press release, a copy of which is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
In accordance with General Instruction B.2 of Form 8-K, the information set forth in the attached Exhibit 99.1 is deemed to be “furnished” and shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended.
Item 9.01. Financial Statements and Exhibits.
| Exhibit 99.1. | Press release dated April 9, 2019 |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| ENGlobal Corporation | ||
| (Registrant) | ||
| April 10, 2019 | /s/ MARK A. HESS | |
| (Date) | Mark A. Hess, | |
| Chief Financial Officer, Treasurer | ||
| and Corporate Secretary |
| Exhibit Index | |
| 99.1 | Press release dated April 9, 2019 |
Exhibit 99.1
ENGLOBAL ANNOUNCES RECENT PROJECT AWARDS
HOUSTON, TX, April 9, 2019 (GLOBE NEWSWIRE) – ENGlobal Corporation (NASDAQ: ENG) (“ENGlobal”) is pleased to announce first quarter 2019 project awards totaling approximately $14 million. The highlighted scopes of work awarded during this period are summarized below:
| ● | ENGlobal has been awarded multiple engineering, procurement and on-site service contracts to assist an idled oil refinery and terminal operator with refurbishing its regulatory and process analytical systems. This ongoing effort is planned to expedite startup of these facilities while supporting plant safety, environmental compliance, and product quality. The total value of new work awarded during the first quarter of 2019 was approximately $4.2 million. | |
| ● | ENGlobal has been commissioned by a large petrochemical company to design, fabricate and integrate two modular remote instrument buildings valued at approximately $1.2 million. | |
| ● | A major E&C firm has engaged ENGlobal to perform detailed engineering and design services for the revamp of a fluid catalytic cracking (FCC) unit at a mid-continent refinery. This award is valued at approximately $1 million. |
“We are realizing significant benefits from our new estimating and proposal team which was assembled late last year,” stated William A. Coskey, P.E., Chairman and CEO of ENGlobal. “I’m proud to report that ENGlobal’s proposal win rate is approximately forty percent over the last six months, a significant improvement primarily due to the consistency and increased volume of our proposal efforts.”
Mr. Coskey continued: “We currently have approximately $35 million of proposals pending together with approximately $30 million of current contracted backlog as of March 30, 2019. We thank each of our clients for their confidence in our abilities and greatly look forward to working closely with each of them toward successfully executed projects.”
About ENGlobal:
ENGlobal (Nasdaq: “ENG”) is a leading provider of engineered modular solutions to the energy sector throughout the United States and internationally. ENGlobal operates through two business segments: Automation and Engineering. ENGlobal’s Automation segment provides services related to the design, integration and implementation of process distributed control and analyzer systems, advanced automated data gathering systems and information technology. Within the Automation segment, ENGlobal’s Government Services group provides engineering, design, installation and operation and maintenance of various government, public sector and international facilities, and specializes in the turnkey installation and maintenance of automation and instrumentation systems for the U.S. Defense industry worldwide. The Engineering segment provides multi-disciplined engineering services relating to the development, management and execution of projects requiring professional engineering and related project management services. Further information about the Company and its businesses is available at www.ENGlobal.com.
Safe Harbor for Forward Looking Statements:
The statements above regarding the Company’s expectations regarding its operations and certain other matters discussed in this press release may constitute forward-looking statements within the meaning of the federal securities laws and are subject to risks and uncertainties, including the timing, amount and scope of any award and the amount of pending proposals and backlog. Actual results and the timing of certain events could differ materially from those projected in or contemplated by the forward-looking statements due to a number of factors detailed from time to time in ENGlobal’s filings with the Securities and Exchange Commission. In addition, reference is hereby made to cautionary statements set forth in the Company’s most recent reports on Form 10-K and 10-Q, and other SEC filings.
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CONTACT:
Mark A. Hess
Phone: (281) 878-1000
E-mail: mark.hess@ENGlobal.com
E-mail: ir@ENGlobal.com