SHENYANG, China, November 14, 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 third quarter ended September 30, 2014.

2014 Third Quarter Results Highlight:

  • Total revenue for the third quarter grew 120.3% to $2.94 million from $1.33 million in the third quarter last year.
  • Product revenue for the third quarter sharply grew 196.3% to $2.91 million from $0.98 million, as compared to the same period of last year.
  • Gross profit for the third quarter of 2014 increased 109.9% to $886,034, as compared to $422,111 for the same period last year.
  • Net income for the third quarter was $327,684, or $0.06 per fully diluted share, demonstrated a very positive business improvement from a net loss of $25,262, or –$0.005 per fully diluted share from the third quarter of 2013.

Mr.Gang Li, Chairman of the Company commented, “for the three months ended September 30, 2014, we were glad to see that both revenue and profit were significantly increased by 120% and 290% respectively as compared with the corresponding period of last year. This is mainly due to our patented product ( dual-way sealed curtains device) , which kept expanding. The two projects from North-West and Beijing are about to complete in the fourth quarter. Meanwhile, we anticipate that our environmental products will also be able to contribute profit in the next quarter. Thus, we believe our revenue and profit will increase with a higher growth rate in the fourth quarter and grow dramatically for the whole year as well.

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 http://www.sec.gov .

Andy Gao
Phone Number: +86-24-25609775
Email: info@nfenergy.com