NF Energy
NF Energy-saving Corporation of America was listed on NASD OTCBB stock market. (Trading Symbol: NFES.OB). The Company operates its business through its wholly owned subsidiary in China, Liaoning Nengfa Weiye Energy Technology Co., Ltd., which principally focus on manufacturing energy-saving equipments and new energy facilities, contracting with energy-saving & pollution reduction Turn-Key project, and operating Energy Management Contract (EMC) projects.
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NF Energy expects 2009 earnings to soar 250% as revenues climb 28%
NF Energy Saving Corporation (OTCBB: NFEC) anticipates its 2009 full
year revenues to rise 28% year-on-year to US$20-21 million, while
earnings per share are expected to soar 250% to US$0.35 with more growth
eyed in 2010.
The company did not recognize US$3 million in
additional revenues as some client projects have been delayed to the
first quarter of 2010.
“Although there were significant changes
in the economy during the 2008 and 2009 time frame, which had an impact
on the types of projects to which we provided products and services, the
Company still experienced strong growth year over year,” said Chairman
and Chief Executive of NF Energy Gang Li.
The company expects
further growth in 2010 due to the ongoing global economic recovery and
expansion of the Chinese economy, as well as the Chinese government’s
expansion of environment protection policies and continued investment in
and encouragement of infrastructure projects.
“Management
believes there are many opportunities for expanding of the product and
service offerings of the business and 2010 will reflect continued growth
for the company,” added Li.
Last month, the company was
recognized as one of the top Chinese energy service companies with the
“2009 Top 20 ESCO in China” award, presented to the company at the China
ESCO Industry Annual Meeting & China Energy Forum held in Beijing.
Last
month, NF Energy won bidding on Phase III of a large
ultra-supercritical coal power plant in Zhejiang province. It will
supply 6 sets of DN2200 fluid-control butterfly valve to the project,
and expects to recognize revenue from the deal of US$550,000 in the
third quarter of 2010.
Other NF Energy news
- NF Energy Saving shares down as Q4 earnings slide
2011-03-25 - NF Energy signs contract with Fuxin HF Bio-energy for energy savings project in China
2010-09-15 - NF Energy expects to increase revenue by at least 33% in 2010
2010-04-21 - NF Energy expects to benefit from Chinese policies for energy
2010-04-14 - NF Energy Saving named among Top 20 energy saving companies in China
2010-02-03
