Thursday, May 17, 2007

China Natural Gas Update

I mentioned China Natural Gas and it seems the company is delivering on what it promised. For me its my energy play in an energy constrained populas and growing country...

China Natural Gas Reports First Quarter 2007 Financial Results
Tuesday May 15, 4:38 pm ET


Net Income Up 414% to $2.1 Million

NEW YORK, May 15 /PRNewswire-FirstCall/ -- China Natural Gas, Inc. (OTC BB: 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 first quarter financial results for the period ended March 31, 2007.
    Financial Highlights for the First Quarter 2007:

- Revenue increased 277% year over year to $6.7 million
- Gross profit increased 272% year over year to $3.5 million
- Income from operations increased 421% year over year to $2.5 million
- Net income increased 414% year over year to $2.1 million
- Net income per share increased to $0.09 per share compared to $0.02 in
the prior year period

1 comment:

Heather said...

Very impressive! Do you know anything about Natural Gas in India? I was just discussing this with someone the other day.

Thanks,

Heather Ali