China Recycling Energy
China Recycling Energy Corporation, formerly China Digital Wireless, Inc is engaged in recycling energy business, providing energy saving and recycling products and services.
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China Recycling Energy sees profits rise
China Recycling Energy Corporation (OTC:CREG), an industrial waste-to-energy provider and one of the Carlyle Group’s Chinese investee companies, today announced its positive financial results for the fourth quarter and full year ending December 31, 2008.
The company saw net income for the quarter up, at US$2.31m, or US$0.04 per share, from US$0.73m and US$0.02 per share in the same quarter of 2007. Non-GAAP net income meanwhile also rose to US$2.43m for the quarter, or US$0.06 per share, from US$0.83m or US$0.02 per share in the same quarter of last year.
The company’s net revenues for the quarter also increased substantially, from US$4.26m in the same quarter of 2007, to US$12.34m.
