Hanwei Energy Services Reports Year End Fiscal 2013 Financial and Operational Results
Revenue increases by 7% to $29.7 million EBITDA increases 700% to $4.3 million (or 14% of revenues) Net income of $2.5 million or $0.03 per share
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 06/18/13 -- Hanwei Energy Services Corp. (TSX: HE) ("Hanwei" or the "Company"), today reported its financial results for the year ended March 31, 2013 (the "2013 Fiscal Year"). All amounts are in Canadian Dollars unless otherwise noted. The Company's ongoing focus on sales, production processes and cost controls resulted in significant improvements in revenue, gross profit margin and EBITDA on a year over year basis.
For the year ended March 31, 2013:
Other Highlights:
For the three months ended March 31, 2013:
Hanwei will host a conference call to discuss its operational and financial results for the year ended March 31, 2013. Graham Kwan, Executive Vice President and Rick Huang, Chief Financial Officer of Hanwei will host the call. Management invites analysts and investors to participate on the conference call:
Date: Wednesday, June 19, 2013
Time: 1:30 p.m., Eastern Time
Dial in number: 1-888-430-8709 or 1-719-325-2362
A replay of the conference call will be available on the Company's website .
About Hanwei Energy Services Corp.
Hanwei Energy Services Corp. is a leading manufacturer of high pressure, fiberglass reinforced plastic ("FRP") pipe products and associated technologies and services for the international oil and gas infrastructure industries. Hanwei serves major energy customers in the Chinese and global energy markets.
FORWARD-LOOKING INFORMATION AND NON-GAAP MEASURES
Certain information in this press release is forward-looking within the meaning of certain securities laws, and is subject to important risks, uncertainties and assumptions a description of which is set out in the risk factors section of the Company's Annual Information Form dated June 18, 2013 and Management Discussion and Analysis for the year ended March 31, 2013 both of which are filed with Canadian securities regulators and available on SEDAR at . The forward-looking information in this press release describes the Company's expectations as of the date of this press release.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE PRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS PRESS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, THE COMPANY DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME, EXCEPT AS REQUIRED BY APPLICABLE SECURITIES LEGISLATION.
Neither the TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Hanwei Energy Services Corp.
Graham Kwan
Executive VP, Strategic Development and Corporate Affairs
604-685-2239
Hanwei Energy Services Corp.
Yucai (Rick) Huang
Chief Financial Officer
604-685-2239
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 19.06.2013 - 02:43 Uhr
Sprache: Deutsch
News-ID 271036
Anzahl Zeichen: 0
contact information:
Town:
VANCOUVER, BRITISH COLUMBIA
Kategorie:
Oil & Gas
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