China Natural Gas Announces Fourth Quarter and Full Year 2006 Financial Results
NEW YORK, April 17 /PRNewswire-FirstCall/ -- China Natural Gas, Inc. (OTC Bulletin Board: CHNG - News ), one of the leading providers of pipeline natural gas for industrial, commercial and residential use and compressed natural gas (CNG) for vehicular fuel in Xi'an, China, today announced its fourth quarter and full year financial results for the fiscal year ended December 31, 2006. Financial Highlights for the Fourth Quarter 2006: -- Revenue increased 218% to $6.8 million, driven by the construction of an additional 14 CNG filling stations in the Xian area in 2006 and continued growth of pipeline customers; -- Gross profit up 189% to $3.3 million; -- Income from operations increased 286% to $2.3 million; -- Net income increased 271% to $2.1 million; and -- Net income per diluted share increased 304% to $0.08 per share. "We are very pleased with our performance through the fourth quarter of 2006, which exceeded our expectations by all measur...