For Immediate Release

 
Company Contact:
Investor Relations Contact:
Ms. Lihua Wang, Director & CFO
Mr. Mark Collinson, Partner
NF Energy Saving Corp.
CCG Investor Relations
Tel: +86 24-8563 1159
Tel: +1 310-954-1343
Email: wlh@nfenergy.com
Email: mark.collinson@ccgir.com
Website: www.nfenergy.com
Website: www.ccgirasia.com

 
NF Energy Announces Unaudited Preliminary Results for Fiscal
Year 2010, Provides Initial Guidance for 2011
-   Revenues and Operating Income up 25% and 2% Respectively
 

Shenyang, Liaoning Province, China, March 3, 2011 NF Energy Saving Corp. (NASDAQ: NFEC) ("NF Energy" or the "Company"), a leading provider of energy management services and producer of energy efficiency products, today announced unaudited preliminary results for the fiscal year ended December 31, 2010. The Company will release full financial results on or before March 25, 2011.

Total unaudited revenue for the fiscal year ended December 31, 2010 was approximately $25.3 million, an increase of 24.8% from the year ended December 31, 2009. Full year 2010 operating income increased 2% to $5.6 million. Full year 2010 unaudited net income was approximately $4.3 million, down 9.9% for the year ended December 31, 2009 due to a one-time non-cash, non-operating accounting charge related to convertible securities issued by the Company in 2010.

Although fourth quarter revenues were $7.3 million, an increase of 42.0% compared to the fourth quarter of 2009, net income dropped to $0.5 million compared with $1.3 million in the fourth quarter of 2009.  This was primarily due to a decline of gross margin from 33% in the fourth quarter of 2009 to 18% in the fourth quarter of 2010 that was caused by the Company transitioning  production from its old facility to its newly constructed facility.

All the foregoing results are preliminary and subject to revision based upon review by the Company’s independent auditor.

"We are happy of our overall performance in 2010.” said Mr. Gang Li, Chairman and Chief Executive of the Company. He added “Our new facilities, to which we moved production in late 2010, will more than triple our available capacity and allow us to expand more rapidly in future years. In 2011, we expect continued strong revenue growth and a return to growth in profitability, driven by increased market demand for both our energy management services and our intelligent flow control systems.”
 
 
 
 

The following information was filed by Nf Energy Saving Corp (NFEC) on Tuesday, March 8, 2011 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one year to another to evaluate Nf Energy Saving Corp's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Nf Energy Saving Corp.

Continue

Never Miss A New SEC Filing Again


Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.

Continue

We Highlighted This SEC Filing For You


SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.

Continue

Widen Your SEC Filing Reading Experience


Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view

Continue

Uncover Actionable Information Inside SEC Filings


SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q

Continue

Adobe PDF, Microsoft Word and Excel Downloads


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats
Last10K.com Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis

Continue

FREE Financial Statements


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshot of actual balance sheet from company 10-K Annual Report
Last10K.com Member Feature

Get one-click access to balance sheets, income, operations and cash flow statements without having to find them in Annual and Quarterly Reports

Continue for FREE

Intrinsic Value Calculator


Intrinsic Value Calculator
Screenshot of intrinsic value for AT&T (2019)
Last10K.com Member Feature

Our Intrinsic Value calculator estimates what an entire company is worth using up to 10 years of financial ratios to determine if a stock is overvalued or not

Continue

Financial Stability Report


Financial Stability Report
Screenshot of financial stability report for Coco-Cola (2019)
Last10K.com Member Feature

Our Financial Stability reports uses up to 10 years of financial ratios to determine the health of a company's EPS, Dividends, Book Value, Return on Equity, Current Ratio and Debt-to-Equity

Continue

Get a Better Picture of a Company's Performance


Financial Ratios
Available Financial Ratios
Last10K.com Member Feature

See how over 70 Growth, Profitability and Financial Ratios perform over 10 Years

Continue

Log in with your credentials

or    

Forgot your details?

Create Account