Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Frac Water Stock Alert HII Technologies, Inc.(HIIT)Announces Preliminary Third Quarter 2013 Results  Join our daily free Newsletter

MENAFN - Investors Ideas - 30/10/2013
No. of Ratings : 0
Add to Mixx!






(MENAFN - InvestorIdea)

Frac Water Stock Alert: HII Technologies, Inc. (HIIT) Announces Preliminary Third Quarter 2013 Results


Oilfield Services Company HII Technologies Reporting Preliminary Consolidated Revenues of 3.9 Million for the Quarter Ended September 30, 2013 Representing an Increase of Over 790% From the Comparable 2012 Period


News about: HII Technologies, Inc.


HOUSTON - October 21, 2013 (Investorideas.com Newswire) HII Technologies, Inc. (the "Company"), symbol HIIT (OTCBB/OTCQB: HIIT), an oilfield services company headquartered in Houston, Texas, with operations in Texas, Oklahoma, Ohio and West Virginia, today announced that its preliminary unaudited results for consolidated revenues from operations for the quarter ended September 30, 2013 were approximately 3.9 million.


On a consolidated basis, the Company's revenues for the quarter ended September 30, 2013 were about 3.9 million, an increase of over 790% compared to the third quarter 2012 consolidated pro forma revenues of approximately 438,000. The pro forma figure is the total revenues for the full third quarter of 2012 given that AES was purchased during that quarter. Further, the Company's preliminary third quarter 2013 revenues represented an increase of approximately 21% from the Company's second quarter 2013 revenues, which were approximately 3.2 million. The revenues on a consolidated basis for the nine months ended September 30, 2013 were approximately 9.7 million.


Mr. Flemming, CEO HII Technologies, stated, "AES Water Solutions continued to perform well during the third quarter 2013 from continued demand for its services. AES' frac water supply activities continued to experience strong growth in Oklahoma and Texas as compared to the year ago period. The Company also expanded into flow back services during the third quarter contributing to the increase in revenue. AES Safety Services grew during the quarter adding new customer sites in Texas and Ohio. The Company anticipates additional organic growth in the Safety Services area. South Texas Power also increased its revenues and has placed an order for approximately 325,000 of new oilfield customized mobile generators based on customer demand."


The Company anticipates filing its Quarterly Report on Form 10-Q for the period ended September 30, 2013 and announcing earnings and related financial results for the period by November 15, 2013.


About HII Technologies, Inc.


HII Technologies, Inc. is a Houston, Texas based oilfield services company with operations in Texas, Oklahoma, Ohio and West Virginia. The Company is positioned to take advantage of the significant anticipated growth in horizontal drilling and hydraulic fracturing within the United States' active shale and unconventional "tight oil" plays by deploying new oilfield related technologies to enhance the value of services it offers its customers. The Company's frac water supply services subsidiary does business as AES Water Solutions, its onsite oilfield contract safety consultancy does business as AES Safety Services, and its mobile oilfield power subsidiary does business as South Texas Power (STP). The holding company, HII Technologies' objective is to bring proven technologies to these operating divisions to build a long-term competitive advantage. Read more at www.HIITinc.com, www.AESwatersolutions.com and www.Oilfield-Generators.com.


Forward-Looking Statements


This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements as to matters that are not of historic fact are forward-looking statements. These forward-looking statements are based on HII's current expectations, estimates and projections about HII, its industry, its management's beliefs and certain assumptions made by management, and include statements regarding estimated capital expenditures, future operational and activity expectations, international growth, and anticipated financial performance in 2013. No assurance can be given that such expectations, estimates or projections will prove to have been correct. Whenever possible, these "forward-looking statements" are identified by words such as "expects," "believes," "anticipates" and similar phrases.


Readers are cautioned that any such forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict, including, but not limited to: risks that HII will be unable to achieve its financial, capital expenditure and operational projections, including quarterly and annual projections of revenue and/or operating income and risks that HII's expectations regarding future activity levels, customer demand, and pricing stability may not materialize (whether for HII as a whole or for geographic regions and/or business segments individually); risks that fundamentals in the U.S. oil and gas markets may not yield anticipated future growth in HII's businesses, or could further deteriorate or worsen from the recent market declines, and/or that HII could experience further unexpected declines in activity and demand for its hydraulic frac related water transfer business, its safety consultancy business or its generator and related equipment rental service businesses; risks relating to HII's ability to implement technological developments and enhancements; risks relating to compliance with environmental, health and safety laws and regulations, as well as actions by governmental and regulatory authorities; risks that HII may be unable to achieve the benefits expected from acquisition and disposition transactions, and risks associated with integration of the acquired operations into HII's operations; risks, in responding to changing or declining market conditions, that HII may not be able to reduce, and could even experience increases in, the costs of labor, fuel, equipment and supplies employed and used in HII's businesses; risks relating to changes in the demand for or the price of oil and natural gas; risks that HII may not be able to execute its capital expenditure program and/or that any such capital expenditure investments, if made, will not generate adequate returns; and other risks affecting HII's ability to maintain or improve operations, including its ability to maintain prices for services under market pricing pressures, weather risks, and the impact of potential increases in general and administrative expenses.


Because such statements involve risks and uncertainties, many of which are outside of HII's control, HII's actual results and performance may differ materially from the results expressed or implied by such forward-looking statements. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Other important risk factors that may affect HII's business, results of operations and financial position are discussed in its most recently filed Annual Report on Form 10-K, recent Quarterly Reports on Form 10-Q, recent Current Reports on Form 8-K and in other Securities and Exchange Commission filings. Unless otherwise required by law, HII also disclaims any obligation to update its view of any such risks or uncertainties or to announce publicly the result of any revisions to the forward-looking statements made here. However, readers should review carefully reports and documents that HII files periodically with the Securities and Exchange Commission.


Contact:


Matthew Flemming, HII Technologies, Inc. 1-713-821-3157.


Disclaimer/ Disclosure: The Investorideas.com is a third party publisher of news and research Our sites do not make recommendations, but offer information portals to research news, articles, stock lists and recent research. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. This site is currently compensated by featured companies, news submissions and online advertising.


More: http://www.investorideas.com/About/Disclaimer.asp. Disclosure: HII Technologies, Inc.: one month profile and news distribution effective March 20, 2013 with option to renew: two thousand per month


BC Residents and Investor Disclaimer: Effective September 15 2008 - all BC investors should review all OTC and Pink sheet listed companies for adherence in new disclosure filings and filing appropriate documents with Sedar. Read for more info: http://www.bcsc.bc.ca/release.aspx?id=6894









 


Investors Ideas




  MENA News Headlines
 Sep 26 2016 - Egypt's banking sector needs new policies to thrive: Booz Allen HamiltonDaily News Egypt
(MENAFN - Daily News Egypt) Booz Allen Hamilton released a report entitled The New Economic Norm: How Egyptian Banks Must Adapt to Thrive, in which analysts gave their recommendations on how Egypt's ...

 Sep 26 2016 - Egypt- Administrative Court upholds Interior Minister's limited surveillance project on social mediaDaily News Egypt
(MENAFN - Daily News Egypt) The Administrative Court upheld on Sunday the decision by the Minister of Interior to implement a limited surveillance project named 'security risks of social media ...

 Sep 26 2016 - Egypt- National Security arrests members accused of spreading 'pessimistic atmosphere'Daily News Egypt
(MENAFN - Daily News Egypt) Four alleged members of Crisis Cell, affiliated to the outlawed Muslim Brotherhood group, pleaded guilty to charges directed to them by National Security agents, according ...

 Sep 26 2016 - Egypt- Government about to pass new investment law based on investors' demandsDaily News Egypt
(MENAFN - Daily News Egypt) Governmental sources said that the Ministry of Investment is preparing a new investment law to substitute the Investment Guarantees and Incentives Law no.17 of 2015. The ...

 Sep 26 2016 - 'Sinai Province' continues to kidnap and kill citizens in North SinaiDaily News Egypt
(MENAFN - Daily News Egypt) In the past two days, three residents from Rafah city have been kidnapped by militants who are believed to be members of the militant group 'Sinai Province', a resident ...

 Sep 26 2016 - Egyptian junior basketball team wins Arab Championship, comes 2nd in African ChampionshipDaily News Egypt
(MENAFN - Daily News Egypt) Egypt's junior basketball team for under 18 won the Arab Juniors Basketball Championship, which was held at the Egyptian Olympic Athletes Club (El-Olympi) in ...

 Sep 26 2016 - 'SME Beyond Borders—the Missing Middle' starts Monday in CairoDaily News Egypt
(MENAFN - Daily News Egypt) The much anticipated SME Beyond Borders conference is set to open Monday in Cairo at the Nile Ritz Carlton Hotel on the subject of ...

 Sep 26 2016 - Egypt- The imminent real estate bubbleDaily News Egypt
(MENAFN - Daily News Egypt) Real estate marketers and developers expect another imminent bubble due to the continuous increase of real estate unit prices, reaching a level that exceeds the abilities ...

 Sep 26 2016 - Will government intervention bridge the housing gap in Egypt?Daily News Egypt
(MENAFN - Daily News Egypt) The main mission before the Ministry of Housing is the provision of shelter for citizens for different income segments through subsidised projects for low-income ...

 Sep 26 2016 - Egypt- Ministry seeking to overcome slow growth in real estate sector in past years: Mostafa MadboulyDaily News Egypt
(MENAFN - Daily News Egypt) As the Ministry of Housing works to put together a strategy to revitalise the real estate sector and provide housing for low- and middle-income citizens, some believe that ...

more...


 





Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help