St. George Chadux Corporation, 2009 Newsletter
Dear Shareholders,
Since 2007 I have had the privilege of running the St. George Chadux Corporation. We have made significant progress towards building a viable and sustainable corporation that will provide benefits to you and your children now and in the future.
The gross revenues of St. George Chadux have grown from $516,732 in 2006 to $3,185,684 in 2008. Our projected gross revenue for this year is $7,781,990. This growth also has to be reflected in our expenses, but with efficiency and good management we have reduced our expenses by 20% since 2007. This means that we also are achieving growth in net income. Net income in 2007 was $197,552; in 2008 it was $426,132; and the forecast for this year is $716,311.
Our growth and success would not have been achieved without your support and trust. Our success also is a reflection of the experienced and committed staff that we have hired over the last two years to perform the work required by our contracts. These individuals were handpicked by the management team because they embody our core values:
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Each member of our staff has endorsed a mission statement for St. George Chadux to provide excellent, innovative and practical services to each customer; and the opportunity for our shareholders and employees to prosper.
We have a very bright future full of opportunity. Thank you for your support.
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Chief Operations Officer
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Our Staff
The staff of St. George Chadux Corporation are dedicated professionals that strive to produce high quality and innovative work. Their hard work is helping us to emerge as a leader in the small business industry. These teams are integral to our current and future success:
San Diego Team: from left to right: Tyson Wislofsky, Geologist, Eric Rider, Soil Geochemist; Jeremiah Santini, Geologist; Darren Knight, Geologist; and Shara Churchwell-Fetters, Environmental Scientist.
REM Team: back row from left to right: Matt Cohen, Pacific Fleet REM; Tonnie Harrison, REM NAS Oceana, VA; Kord Christianson, REM NSA Norfolk, VA; Kevin Pepper, REM Little Creek, VA. Front row from left to right: Vince Marshall, Regional REM Norfolk, VA; Tamala Stumon, REM Mechanicsburg, PA; Ron Clay, REM Naval Station Norfolk, VA; and David Skipper, REM New London, CT.
Walnut Creek Team: Janene Chilson, Program Administrator for the AECRU and Air Force Contracts.
Walnut Creek Team: Laureen Andrews, Bookkeeper for St. George Chadux Corporation.
Walnut Creek Team: from left to right: Radhika Sreenivasan, Environmental Scientist; Kathy O’Connor, Graphics, Document Control and Reproduction; Michael Anderson, Environmental Scientist.
Our Current Contracts
St. George Chadux currently has contracts with the Air Force, Army and Navy. The Air Force work is in Alaska maintaining radar stations. This contract allows us to hire shareholders for temporary work and subcontract with AK Supply, a successful Air Force contractor. The Air Force contract was awarded in April 2009 and ends in April 2010.
We were just awarded a contract with the US Army Corps of Engineers in Huntsville, Alabama, to provide resource energy managers at various installations worldwide. The Army contract is with our Chadux Tt joint venture and is a multiple award contract, which means that we compete for each position with four other contractors. We have proposed on two installations and are awaiting the results.
The REM contract with the Navy in the mid-Atlantic region continues to be successful. Our team has helped the installations where we work to win awards from the Secretary of the Navy. Most recently, the program that we have developed with the Navy over the last few years has gained national recognition and will be held up as an example of how to structure future energy programs. This contract will continue through 2010. Our goal is to be in a position to compete for the next contract.
The ChaduxTt joint venture contract with Naval Facilities in the southwest region has grown to its contracting capacity this year. We provide environmental services to almost all of the installations in California and Nevada. Our team has built a reputation for quality and excellence in only a year. We are currently working with TetraTech to leverage our experience and reputation for the next contract.
The REM contract in Hawaii with the Pacific Fleet is winding down its first year. We are working with our technical representative and contract specialist to renew for 2010. The goal is to help Pacific Fleet shape a program that is meaningful for the Navy and provides an opportunity for us to compete on future energy projects.
In addition to our current contracts, we have been building relationships and establishing teaming agreements with companies that enhance our opportunities for future work. We have completed teaming agreements with Brown and Caldwell, an environmental and engineering consulting company; Aleut Northwest Services, an 8(a) subsidiary of Aleut Management Services; and American Metering Systems. These teaming agreements will help us identify opportunities for work with the government and in the industrial/commercial sector.