SHENYANG, China, March 28, 2012 /PRNewswire-Asia/ -- 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 financial results for the fiscal year ended December 31, 2011.
2011 Annual Results Highlight:
- Total revenues were $14.93 million for the fiscal year ended December 31, 2011.
- Gross profit was $4.17 million for the fiscal year ended December 31, 2011.
- Net income was $2.05 million for the fiscal year ended December 31, 2011.
Speaking on behalf of the company, Mr. Gang Li, Chairman, said "The 2011 fiscal year was marked by a profitable year and continued construction of its new manufacturing facilities, phase one of which was completed during the year. These achievements were despite the difficulties the company encountered in raising additional financing to pursue its expansion and development efforts and the expense and down-time of transitioning to the new facility. We have confidence that in 2012 we will be able to continue to improve our business development into our identified areas of expansion, and we believe we will be able to bring greater shareholder value through improved revenues and higher profitability during the fiscal year."
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