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[STK] NASDAQ-SMALL:NFEC
[IN] OIL UTI CPR ECP ENV EUT GRE
[SU] ERN
TO BUSINESS, ENERGY, AND ENVIRONMENTAL EDITORS:
NF Energy Saving Corporation Announces 2013 Annual Financial Results
SHENYANG, China, March 28, 2014 /PRNewswire/ -- 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, 2013.
2013 Annual Results Highlight:
-- Total revenues were $5.67 million for the fiscal year ended
December 31, 2013.
-- Gross profit was $1.54 million for the fiscal year ended December
31, 2013.
-- Net loss was $0.18 million for the fiscal year ended December 31,
2013.
The total revenues and the gross profit for the year decreased as
compared with 2012. Highlights in the business operations of the
Company during 2013 include:
In 2013, research and development expenses increased by 55% over the prior period in 2012.
In 2013, the proportion of steel cast valves over iron cast valves increased by 50% as compared with 2012.
In 2013, total revenue included revenue derived from environmental programs, such as desulfurization and dedusting projects.
In addition, during 2013 the Company's recoverability of accounts
receivable improved.
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.
Safe Harbor Statement
The statements contained herein that are not historical facts are
considered "forward-looking statements." Such forward-looking
statements may be identified by, among other things, the use of
forward-looking terminology such as "believes," "expects," "may,"
"will," "should," or "anticipates" or the negative thereof or other
variations thereon or comparable terminology, or by discussions of
strategy that involve risks and uncertainties. In particular,
statements regarding the efficacy of investment in research and
development are examples of such forward-looking statements. The
forward-looking statements include risks and uncertainties, including,
but not limited to, the effect of political, economic, and market
conditions and geopolitical events; legislative and regulatory changes
that affect our business; the availability of funds and working
capital; the actions and initiatives of current and potential
competitors; investor sentiment; and our reputation. We do not
undertake any responsibility to publicly release any revisions to
these forward-looking statements to take into account events or
circumstances that occur after the date of this report. Additionally,
we do not undertake any responsibility to update you on the occurrence
of any unanticipated events, which may cause actual results to differ
from those expressed or implied by any forward-looking statements. The
factors discussed herein are expressed from time to time in our
filings with the Securities and Exchange Commission available at
Andy Gao Tel: +86-24-25609775 Email: info@nfenergy.com
SOURCE NF Energy Saving Corporation
-0- 03/28/2014
/Web Site: http://www.nfenergy.com
(NASDAQ-SMALL:NFEC) /
CO: NF Energy Saving Corporation
ST: China
IN: OIL UTI CPR ECP ENV EUT GRE
SU: ERN
PRN
-- CN89129 --
0000 03/28/2014 14:30:00 EDT http://www.prnewswire.com
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