ENTREC Corporation announced net debt results for the year ended December 31, 2012. At December 31, 2012, the company's net debt was approximately $107 million (subject to final year-end adjustments), including the value of the unsecured subordinated debentures financing for gross proceeds of $25 million completed in October 2012.

The company revised revenue guidance for the fiscal year ended December 31, 2012 and fiscal year ending December 31, 2013. For the fiscal year ended December 31, 2012, the company expects to report capital expenditures of approximately $50 million, subject to final year-end adjustments. This is higher than the previously announced program of $39 million, with the increase primarily reflecting the impact of a $3.5 million initial deposit related to the acquisition of the Fort McMurray property and $9 million incurred in the fourth quarter of 2012 to buy out existing crane units previously rented under short-term operating leases. For the year ended December 31, 2012, the company estimates its revenue will slightly exceed the high end of its previous revenue guidance of between $125 million and $130 million. Final 2012 revenue results are subject to final year-end billing and accounting adjustments, and as a result, may be different from current expectations.

For the fiscal year ending December 31, 2013, the company approved a $50 million capital expenditure program. The program consists of growth capital expenditures of $41 million and $9 million in maintenance capital expenditures. Based on current expectations for future business activity, the company estimates revenue for the year ending December 31, 2013 could exceed $215 million. This represents an increase from previous revenue guidance of $200 million and includes anticipated incremental revenue of $4 million from the Taylor Crane acquisition.