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Macro Enterprises (MCR.V) today reported its 2012 2Q Results.

Second quarter results

Consolidated revenue was $27.8 million compared to $14.7 million in the second quarter last year. The Company worked on two larger facility projects in the quarter and several smaller jobs. In the second quarter last year, the Company worked on one larger facility project and several smaller jobs.

Operating expenses were 77.6% of revenue in the quarter compared to 83.6% in the same quarter last year. Performance improved this year due to higher volumes and better project execution.

General and administrative expenses were $1.5 million down marginally from last year. The Company has maintained a relatively steady staff complement over the past 15 months.

Total amortization expense of $1.1 million increased by $0.2 million due to a higher level of capital assets needed to sustain the current level of activity.

Interest expense of $0.2 million was down from $0.4 million last year, as last year's expense included costs associated with the temporary increase in loans from related parties.

Income tax expense in the quarter of $0.9 million was at an effective tax rate of 26.8% which approximates the statutory rate.

Net income was $2.6 million ($0.11 per share) compared to a net loss last year of $0.3 million (a loss of $0.01 per share).

About 18,000 shares have changed hands.

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