Boots Coots, Inc. (833845) SEC Filing 10-K Annual report for the fiscal year ending Thursday, December 31, 2009

Exhibit 99.1

Boots & Coots Reports Fourth Quarter and Year End Results

HOUSTON--(BUSINESS WIRE)--March 2, 2010--Boots & Coots, Inc. (NYSE Amex: WEL), announced revenues of $53.0 million for the quarter ended December 31, 2009 compared to $55.9 million for the same quarter of 2008. Net income for the quarter was $2.5 million or $0.03 per diluted share, compared to $5.1 million or $0.07 per diluted share for the 2008 fourth quarter. EBITDA (earnings before interest, income taxes, depreciation and amortization; see the reconciliation and rationale for this non-GAAP financial measure below) was $6.8 million or 12.8% of revenues for the quarter, compared to $9.8 million or 17.6% of revenues for the fourth quarter of 2008.

For the year ended December 31, 2009, Boots & Coots reported revenues of $195.1 million compared to $209.2 million for 2008. Net income for the 2009 period was $6.0 million or $0.08 per diluted share, compared to $21.8 million or $0.28 per diluted share for the prior year. EBITDA was $25.3 million for the year ended December 31, 2009 compared to $39.1 million for 2008.

“Year over year, revenues were down only 7% and we remained profitable despite nearly a 50% drop in domestic rig count from its 2008 high and the worldwide recession. We believe these results are a tremendous contrast relative to our peers and are due in large part to our global geographic diversity and the manner in which we deliver our products and services. Our focus continues to be broadening our international reach while continuing to focus on unconventional gas in North America and abroad,” said Jerry Winchester, chief executive officer of Boots & Coots. “Our markets appear to be mostly rebounding from the lows experienced in the third quarter of 2009, and our international diversification and focus on shale plays in the U.S. make us very well positioned for growth as market conditions improve.”

“We continue to expand operations in North Africa and have developed an increasing presence in Southeast Asia. We recently announced a new secure and salvage project with ONGC, which is our third project in India,” concluded Mr. Winchester. “In 2010, we look forward to continuing our business development efforts in Africa, Asia and South America.”

Business Segment Results

Pressure Control

For the quarter ended December 31, 2009, the Pressure Control segment generated revenues of $23.1 million compared to $27.5 million in the fourth quarter of 2008 and $14.9 million in the 2009 prior quarter. EBITDA for the fourth quarter was $3.5 million compared to $5.7 million for the fourth quarter of the prior year and $3.2 million for the third quarter of 2009. The segment’s sequential quarterly improvement was due to increases in both response and prevention and risk management services, partially offset by a bonus accrual in the fourth quarter attributable to the company’s performance.