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NF Energy Saving Corporation Announces 2012 Second Quarter Financial Results

SHENYANG, China, Aug. 13, 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 three and six months ended June 30, 2012.

2012 Second Quarter Results Highlight
  • For the three and six months ended June 30, 2012, the total revenues were $3,302,624 and $4,500,995, respectively.
  • For the three and six months ended June 30, 2012, gross profit was $509,758 and $930,289, respectively.
  • For the three and six months ended June 30, 2012, net income was $18,854 and $18,965, respectively.

Speaking on behalf of the Company, Mr. Gang Li, the Company's Chairman and Chief Executive Officer, said, "Compared with the first quarter of this year, the increase of total revenues was due to the increase of production because the move to the new manufacturing facility was completed and the facility was partly operational in the second quarter. Also, Phase II of the project is expected to be fully completed in October, 2012. As a result, we believe that the production and the revenues will continue to increase in both the third quarter and fourth quarter, as compared to the first and second quarters of this year." Mr. Li went on to say that, "The annual shareholders meeting will be held in November in Tieling city, Liaoning province, PRC. As the Chairman of the Company, I invite every shareholder who can to visit our new manufacturing facility; we will try our best to grow our business and bring greater value to our shareholders through greater profitability."

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