Energtek Reports Fourth Consecutive Significant Increase in Quarterly Revenues
- Revenues in Q3-2013 alone are higher than for entire 2012
- Further increase of +15% in Q3-2013 as compared with Q2-2013 revenues
NEW YORK, Oct. 28, 2013 /PRNewswire/ -- Energtek Inc. (OTCBB: EGTK), a leader in hi-tech natural gas solutions and Adsorbed Natural Gas (ANG) technology, announced that Q3 '13 revenues have significantly increased as compared to previous quarters, and they are at least 15% higher than Q2-2013, and a remarkable increase of about 40% as compared with Q1-2013.
For the first nine months of 2013, Energtek's revenues from its Bosnian operations reflect an increase of about 180% over the revenues of $2.7m (2012), with Q3-2013 alone being higher than all of 2012.
"As we announced at the end of Q2 '13, we have steadily increasing revenues that certainly mean we will reach our goal of $10,000,000 for the present year," noted Michael Greenfield, Treasurer of Energtek.
"Our investors should keep in mind that the contract to supply the Aluminij factory in Mostar with natural gas is a 10-year contract, and thus we can expect many more years of revenues to flow and follow."
Energtek develops and applies innovative low-pressure mobile transportation solutions for industrial consumers and fleets of small vehicles. The company is also involved on oil and gas exploration in Israel. Energtek operates subsidiaries in North America, Europe, Asia and the Middle East. To learn more about Energtek, visit www.energtek.com
This release contains forward-looking statements within the meaning of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of Energtek and its technologies. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and other matters set in Energtek's filings. These risks and uncertainties could cause actual results to differ materially from those indicated in the forward-looking statements.
SOURCE Energtek Inc.