Boston, MA 03/24/2014 (wallstreetpr) – Has the CEO of China Recycling Energy Corp. (NASDAQ:CREG) exhausted the tricks in his basket? No. Mr. Guohua Ku, the CEO and Chairman of GREG praised the just released fourth quarter and full-year 2013 financial results – just like everyone else is doing after the company posted solid figures.
But while investors love good financial results as they come, questions never stop about what more the company can do to ensure such good results keep coming quarter after quarter and year after year. And the same is sure to be asked about GREG whose solid results continue to propel share upward.
According to the CEO, the future looks brighter than what has already seen in the company. But what is it that is making the future attractive and can you bet on the same? We take closer look into the company’s already baked strengths and potential ones.
The impressive fourth quarter and full-year financial results issued today were largely due to projects which were completed and brought online in 2013. That is why the results were a far cry from the 2012 figures.
The CEO announced that they completed several projects and all operated well thus generating good cash flow. With more projects being completed, the company is seeing its revenue growing rapidly. As concerns waste-to-energy systems, the company has 15 projects running and 4 more currently under construction. And on that note, Mr. Ku observed that with a good number of projects already online and more being constructed, the company is set on attaining great growth to the future than any has already seen.
And in order to ensure that the growth in revenue results in positive impact on the bottom line, the China Recycling Energy Corp. (NASDAQ:CREG) said it will continue to maintain a disciplined expenses and costs controls.
Financial results as they came
China Recycling Energy Corp. (NASDAQ:CREG) posted $12.98 million sales increase in the fourth quarter compared to the year ago quarter. Net income came in at $4.21 million, up 169 percent over the same quarter in 2012. Earnings per share in the fourth quarter were reported at 7 cents, strongly above 3 cents in fourth quarter of 2012.
As for the full-year 2013, sales came in at $61.95 million, above $1.25 million in 2012. Net income in the year was up 359 percent to $15.63 million, against $3.41 million in 2012. And earnings per share took a huge leap upwards, increasing by 314 percent to 29 cents from 7 cents in 2012.
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