TreeCon Resources, Inc. Announces Earnings Results for the Second Quarter and Six Months Ended March 31, 2013
June 25, 2013
Share
TreeCon Resources, Inc. announced earnings results for the second quarter and six months ended March 31, 2013. For the quarter, the company's revenue was $10,392,738, an increase of $3,060,408 or 41.7%, compared to $7,332,330 in the quarter ended March 31, 2012. Net income was $39,918, an increase of $55,299 compared to a loss of $15,381 in the quarter ended March 31, 2012. On a per share basis, net income for the quarter was 0.2 cents per share compared to a loss of 0.1 cents per share in 2012.
For the six-months, revenues increased by $4,645,973, or approximately 24.1%, from $19,248,672 to $23,894,645, compared to the corresponding six-month period ended March 31, 2012. Net income increased by $554,020, or approximately 231%, from $239,822 to $793,842, compared to the six-month period ended March 31, 2012.
TreeCon Resources, Inc. is a holding company, which through its subsidiaries, distributes, leases and provides financing for industrial and logging equipment. The Company is also engaged in sawmill operations and real estate. The Company operates a portfolio of businesses based primarily in the east Texas forest region. Its logging and heavy equipment dealership operations are conducted through its subsidiary Texas Timberjack, with sales, leasing, financing and service locations in Lufkin, Jasper and Cleveland, Texas. Its lumber and treating operations are conducted through its subsidiaries, Southern Forest Products in Newton County, Texas and International Forest Products in Houston, Texas. Its Texas Frac Fluids operates an oilfield services facility in northeast Texas producing water-based fluids for the oil and gas industry. The Company also owns and manages a real estate portfolio consisting primarily of timberlands in Texas and Louisiana.