WELLINGTON, Fla., Sept. 18, 2017 (GLOBE NEWSWIRE) -- KLX Inc. (the “Company”) (NASDAQ:KLXI), a leading distributor and value added service provider of aerospace fasteners and consumables, and a provider of services and products to the oil and gas exploration and production industry, today responded to questions regarding the impact of Hurricanes Harvey and Irma on the Company’s operations. Both the Aerospace Solutions Group Segment (“ASG”), which is headquartered in Miami, FL, and the Energy Services Group Segment (“ESG”), which is headquartered in Houston, TX, were modestly impacted by the recent hurricanes that hit Texas and Florida. ASG’s Miami based headquarters and distribution facility sustained minimal damage and has resumed normal operations as of Monday, September 18, 2017 after having been shut down on Friday, September 8, 2017. ESG’s Houston headquarters and operations in South Texas were also temporarily down for about one week, but are now up and running smoothly.
Commenting on the effects of these storms, Amin J. Khoury, KLX’s Chairman and Chief Executive Officer stated, “We are thankful to report that while numerous KLX employees suffered significant hardship during these storms, all are safe and accounted for. While it is too early to estimate the financial impact these storms may have had on our business, we do not expect it to have a material impact on our financial results for the third quarter. Our service teams are back to full capability and are fully committed to serving our customers with the exceptional performance they have come to expect from KLX.”
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act. Such forward-looking statements involve risks and uncertainties. The Company’s actual experience and results may differ materially from the experience and results anticipated in such statements. Factors that might cause such a difference include those discussed in the Company’s filings with the Securities and Exchange Commission (“SEC”), which include its Annual Report on Form 10-K and Current Reports on Form 8-K. For more information, see the section entitled “Forward-Looking Statements” contained in the Company’s Annual Report on Form 10-K and in other filings. The forward-looking statements included in this news release are made only as of the date of this news release and, except as required by federal securities laws and rules and regulations of the SEC, the Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
About KLX Inc.
KLX Inc., through its two operating segments, provides mission critical products and complex logistical solutions to support its customers’ high value assets. KLX serves its customers in demanding environments that face high cost of downtime and require dependable, high quality just-in-time customer support. The Aerospace Solutions Group is a leading distributor and value added service provider of aerospace fasteners and consumables offering the broadest range of aerospace hardware and consumables and inventory management services worldwide. The Energy Services Group provides vital services and products to the oil and gas industry on an episodic, 24/7 basis. For more information, visit the KLX website at www.klx.com.
Director, Investor Relations