2009 Financial Highlights -- 2009 Revenues Increased 28.64% to $27.59 Million vs. 2008 -- 2009 Gross Profit Increased 26.83% to $9.47 Million -- 2009 Operating Income Increased 88.37% to $5.07 Million -- 2009 Net Income Increased 152.90% to $4.05 Million with Diluted EPS of $0.14 from $0.05 in 2008 Full Year Ending December 31, 2009 Financial Results
Revenue and Net Income
Revenue and net income in fiscal year 2009 was
The revenue from gas sales was
Gross Profit and Gross Margin
Gross profit for the year ended
Outlook
"We are delighted to announce that we have achieved great improvement in
sales and net income in 2009. These are record sales in our company's history.
Going forward, Sino Gas will continue to focus on the existing projects,
increase the penetration rate, improve our gas distribution networks, and
enhance operating efficiency and cost structure. Our company currently
operates 1040 km of pipeline in 35 cities in
Sino Gas International Holdings, Inc. Consolidated Income Statements For the year ended December 31, 2009 and 2008 (Stated in US Dollars) 2009 2008 Sales $27,591,501 $21,448,488 Cost of revenue (18,117,500) (13,978,508) Gross Profit 9,474,001 7,469,980 Operating Expenses Selling expenses (1,032,629) (1,136,867) General and administrative expenses (3,374,896) (3,643,531) Total operating expenses (4,407,525) (4,780,398) Operating Income 5,066,476 2,689,582 Other Income/(Expense) Investment income 461,014 417,264 Other income 64,774 17,179 Other expense (36,214) (545,612) Interest income 75,302 113,884 Interest expense (489,111) (187,999) Total other income/(expense) 75,765 (185,283) Earnings from continued operation 5,142,241 2,504,299 Income tax (1,094,657) (903,806) Net income $4,047,584 $1,600,493 Income available to common stockholders for basic EPS $4,047,584 $1,600,493 Interest expense for convertible bonds, net of tax 234,180 -- Income available to common stockholders for diluted EPS $4,281,764 $1,600,493 Earnings Per Share Basic $0.15 $0.06 Diluted $0.14 $0.05 Weighted Average Shares Outstanding Basic 26,235,980 25,115,675 Diluted 30,815,819 29,944,548
About Sino Gas International Holdings, Inc.
The Company, through its indirectly wholly-owned subsidiary, Beijing Zhong
Ran Wei Ye Gas Co., Ltd. ("Beijing Gas"), and the subsidiaries of Beijing Gas,
is a leading developer of natural gas distribution systems in small and medium
size cities in
Forward-Looking Safe Harbor Statement
Statements in this news release regarding future financial and operating results, potential applications of the Company's technology, opportunities for the Company, and any other statements about the future expectations, beliefs, goals, plans, or prospects expressed constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements that are not statements of historical fact (including statements containing the words "will," "believes," "plans," "anticipates," "expects," "estimates," and similar expressions) should also be considered to be forward-looking statements. There are a number of important factors that could cause actual results or events to differ materially from those indicated by such forward-looking statements including: limited operating history, need for future capital and economic conditions generally. Additional information on potential factors that could affect results and other risks and uncertainties are detailed from time to time in the Company's periodic reports, including Forms 10-K, 10-Q, 8-K, and other forms filed with the Securities and Exchange Commission ("SEC"). These statements, and other forward-looking statements, are not guarantees of future performance and involve risks and uncertainties.
For more information, please contact: Sino Gas International Holdings, Inc. Chunying Chai, IR Officer Tel: +86-10-8260-0041 x883 Email: chaichunying@sino-gas.com Web: http://www.sino-gas.com Investor Relations Contact: Strategic Growth International Richard Cooper/ Linda Ni Tel: +1-212-838-1444 Email: rcooper@sgi-ir.com ; lni@sgi-ir.com Web: http://www.sgi-ir.com
SOURCE Sino Gas International Holdings, Inc.