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EXHIBIT
99.1
Contact:
Capital
Group Communications, Inc. - Investor Relations
(415)
332-7200
(415)
332-7201
Website:
http://www.capitalgc.com
Sino
Clean Energy Inc.
Ming
Lee
Assistant
to the Chairman
+86-29-84067376
For Immediate
Release
Sino
Clean Energy Reports 392% Year-Over-Year Revenue Growth
Alongside
195% Net Income Growth in Fiscal 2008
Xi’an, China – April 6, 2009 –
Sino Clean Energy, Inc. (OTCBB:SCLX) (“Sino Clean Energy”, the “Company”), a
producer and distributor of coal-water mixture (“CWM”) in the People's Republic
of China (“PRC”), announced its financial results for the fiscal year ended
December 31, 2008.
Fiscal
2008 Highlights
|
·
|
Total
revenue increased 392% year-over-year to $13.79
million
|
|
·
|
Gross
profit increased 344% year-over-year to $4.52
million
|
|
·
|
Operational
Income increased 989% year-over-year to $3.95
million
|
|
·
|
Net
income increased 195% year-over-year to $3.00 million, or $0.03 per basic
and diluted share
|
|
·
|
Satisfies
2008 financial performance threshold of $3.5 million in net income
(excluding certain non-cash charges) and cash from operating activities as
mandated under terms of September 2008 private
financing
|
|
·
|
Established
audit, compensation and nominating committees, and adopted a Code of
Business Conduct and Ethics, to strengthen our corporate governance in
compliance with the listing requirements of a senior U.S.
exchange
|
|
·
|
Appointed
Hon Wan “Helice” Chan, a licensed CPA knowledgeable in US GAAP, as Chief
Financial Officer to direct and supervise our financial reporting
obligations
|
|
·
|
Appointed
Bennet P. Tchaikovsky, a licensed CPA with considerable experience working
with U.S. public companies, to our board of directors and to head our
audit committee
|
|
·
|
Appointed
Dr. Zidong Zhao, a scientist with considerable knowledge of coal and
related industries in the PRC, to our board of
directors
|
Full
Year 2008 Results
Total
revenue for 2008 was $13,785,125, an increase of 392% compared to $2,802,750 for
2007.
Costs of
sales for 2008 were $9,266,832 compared to $1,785,601 for 2007, an increase of
419%. 2008’s gross profit increased 344% to $4,518,293, or 33% of
total sales, from $1,017,149, or 36% of total sales, for the prior
year.
Income
from operations for 2008 was $3,950,399, compared to $362,788 for 2007, an
increase of 989%.
The following information was filed by Sino Clean Energy Inc (SCEI) on Monday, April 6, 2009 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 Sino Clean Energy Inc's financial trajectory
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 Sino Clean Energy Inc.
SCEI Annual Reports
- 10-K Annual Report March 2012
- 10-K Annual Report April 2011
- 10-K Annual Report April 2010
-
10-K Annual Report April 2009
Material Contracts, Statements, Certifications & more
Sino Clean Energy Inc provided additional information to their SEC Filing as exhibits
SEC Filing Exhibit
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Ticker: SCEI
CIK: 1120096
Form Type: 10-K Annual Report
Accession Number: 0001144204-09-018909
Submitted to the SEC: Fri Apr 03 2009 5:38:05 PM EST
Accepted by the SEC: Mon Apr 06 2009
Period: Wednesday, December 31, 2008
Industry: Industrial Organic Chemicals
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