NF Energy Saving Corporation Announces 2018 Third Quarter Financial Results
Nov 14, 2018, 09:10 ET
SHENYANG, China, Nov. 14, 2018 /PRNewswire/ -- NF Energy Saving Corporation. (NASDAQ: NFEC) ("NF Energy" or the "Company"), a leading energy saving services and solutions provider for China's power, petrochemical, coal, metallurgy, construction, and municipal infrastructure development industries, today reported its financial results for the three and nine months ended September 30, 2018.
2018 Third Quarter Results Highlight
- Total revenues were $1,102,693 and $1,814,111 for the three and nine months ended September 30, 2018, respectively, as compared to $1,141,920 and $3,855,365 for the corresponding three and nine months in 2017. Total revenues decreased by $39,227 and $2,041,254 for the three and nine months ended September 30, 2018, respectively, as compared to total revenues for the three and nine months ended September 30, 2017.
- The overall gross profit for the Company was $145,999 and $469,227 (13.24% and 25.86% margin) for the three and nine months ended September 30, 2018, respectively, as compared to $41,949 and $461,561 (3.67% and 11.97% margin) for the corresponding three and nine months in 2017, respectively, an increase of $104,050 and $7,666, or 248.04% and 1.66%, compared to the corresponding period in 2017.
- As a result of the factors mentioned above, net loss was $314,891 and $2,471,554 for the three and nine months ended September 30, 2018, respectively, as compared to net loss of $426,915 and $1,112,487 for the corresponding three and nine months in 2017, respectively, a decrease of $112,024 and an increase of $1,359,067, compared to the corresponding period in 2017.
About NF Energy Saving Corporation
NF Energy Saving Corporation (NASDAQ: NFEC) is a China-based provider of integrated energy conservation solutions utilizing energy-saving equipment, technical services and energy management re-engineering project operations to provide energy saving services to clients. The Company's customers are mainly concentrated in the electrical generation (large-scale thermal power generation, hydroelectric power, and nuclear power), water supply, and heat supply industries. The majority of revenues are from energy efficient flow control solutions including equipment and energy efficiency project services. For more information, visit http://www.nfenergy.com.
Safe Harbor Statement
The statements contained herein that are not historical facts are considered "forward-looking statements." Such forward-looking statements may be identified by, among other things, the use of forward-looking terminology such as "believes," "expects," "may," "will," "should," or "anticipates" or the negative thereof or other variations thereon or comparable terminology, or by discussions of strategy that involve risks and uncertainties. In particular, statements regarding the efficacy of investment in research and development are examples of such forward-looking statements. The forward-looking statements include risks and uncertainties, including, but not limited to, the effect of political, economic, and market conditions and geopolitical events; legislative and regulatory changes that affect our business; the availability of funds and working capital; the actions and initiatives of current and potential competitors; investor sentiment; and our reputation. We do not undertake any responsibility to publicly release any revisions to these forward-looking statements to take into account events or circumstances that occur after the date of this report. Additionally, we do not undertake any responsibility to update you on the occurrence of any unanticipated events, which may cause actual results to differ from those expressed or implied by any forward-looking statements. The factors discussed herein are expressed from time to time in our filings with the Securities and Exchange Commission available at http://www.sec.gov.
For more information contact:
Andy Gao
Phone Number: +86-138-8983-9240
Email: [email protected]
SOURCE NF Energy Saving Corporation