Sino Gas International Holdings, Inc., announced financial results for the fourth quarter and full year ended December 31, 2010.
Fourth Quarter 2010 Financial Highlights YOY
* Total revenue increased 36.07% to $11.2 million
* Connection Fees Revenues Increased 16.73% to $5.13 Million
* Gas Sales Increased 58.18% to 6.07 Million
* Gross Profit Increased 23.11% to $5.16 Million
* Operating Income Increased 49.8% to $3.59 Million
Full Year of 2010 Financial Highlights YOY
* Total revenue increased 16.61% to $32.17 million
* Connection Fees Revenues Increased 13.02% to $13.44 Million
* Gas Sales Increased 19.33% to 18.73 Million
* Gross Profit Increased 30.50% to $12.36 Million
* Operating Income Increased 43.83% to $7.29 Million
Mr. Yu-Chuan Liu, Chairman and CEO of Sino Gas said , “ Our improved operating results are indicative of the continuing strong demand for natural gas in China with the Government’s support, rapid urbanization, clean energy promotion and rise in income levels. We will continue to focus on our existing projects in small and medium-sized cities in China, and pursue new business opportunities .”
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Source: Sino Gas, March 31, 2011;