Reconstruction Tech (RCON) – Leading independent oilfield to report full year revenue, up more than 20%
Reconstruction Tech (NASDAQ:RCON) ($4.61; marked up pre market) – a leading independent oilfield services provider operating primarily in China, announced today it anticipates reporting full year revenue for its fiscal year ended June 30, 2014 will be approximately RMB 93 million ($15 million), up more than 20% compared with revenue in fiscal 2013, as sales of hardware products to its oilfield company customers increased more than 100% year-over-year.
Reconstruction Tech (RCON) –
“As our company pursues becoming a more fully integrated customized supplier to its oil and gas customers — with the aim of reducing their costs and improving their production — sales of furnace and automation products were particularly strong,” stated Mr. Shenping Yin, Chairman and CEO of the Company, “and helped offset the full year reduction in revenues from fracturing services.”
Mr. Yin added, “Coupled with the strong sales gain, we expect to report a net operating profit compared with the loss from operations we incurred in fiscal 2013, as well as healthy percentage increases in net income and adjusted net income attributable to Recon Technologies Ltd. that were higher than the percentage gain in sales.”
Source: https://geoinvesting.com/reconstruction-tech-rcon-leading-independent-oilfield-report-full-year-revenue-20-2/
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