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: info@nfenergy.com
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SOURCE NF Energy Saving Corporation