NXT Energy Solutions Inc. (“NXT” or the “Company”) (TSX-V:SFD; OTCQB:NSFDF) is pleased to announce its financial and operating results for the three and six month periods ended June 30, 2012. All selected and referenced financial information should be read in conjunction with NXT’s consolidated financial statements and management discussion and analysis (“MD&A”) as filed on SEDAR at www.sedar.com, on NXT’s website at www.nxtenergy.com and on EDGAR at www.sec.gov/edgar.
For the Q2 three month period ended June 30, 2012, NXT had net earnings of $30,660 ($0.00 per share) on revenues of $2,394,863 and for the six months year-to-date 2012, net earnings of $368,588 ($0.01 per share) on revenues of $5,210,183. Q2 is NXT’s second consecutive profitable quarter. Q1 and Q2 combined represent a record 6 month financial result. For the comparable 2011 periods, the Company had a Q2 -2011 net loss of $692,510 ($0.02 per share) on revenues of $144,650, and for the six months year-to-date 2011 a net loss of $1,485,227 ($0.04 per share) on revenues of $144,650. Six month results are illustrated in the chart below:
|Six months ending June 30, 2012||Six months ending June 30, 2011|
|Survey Revenue||$ 5,210,183||$ 144,650|
|Net Income (loss)||368,588||(1,485,227)|
|Basic and diluted earnings (loss) per share||0.01||(0.04)|
“Building on our successful Q1-2012, I am pleased to report additional revenues and profit for the Q2-2012 period, thus extending our return to profitability. Profitability is a primary goal for NXT this year.” said George Liszicasz, NXT’s President & CEO. “We are on track to post record revenues for fiscal 2012”.