According to the company, the company’s net sales for the year ended September 30, 2008 were approximately $40.94 million, a 120.7% increase from net revenue of approximately $18.55 million for the 12 months ended September 30, 2007. Gross profit was $15.35 million, an increase of 61.1% from $9.53 million for the fiscal year ended September 30, 2007.
In the fourth quarter of fiscal year 2008, the company has reported a net income of $6.88 million, an increase of 411.4%, compared to $1.35 million in the same period of 2007. Net sales increased 99.5% to $14.2 million, compared to $7.08 million in the fourth quarter of fiscal year 2007.
The company has reported a gross profit of $3.8 million in the fourth quarter of fiscal year 2008, an increase of 5.8%, compared to the same period of 2007.
Bo Huang, CEO of Sinoenergy, said: “We are pleased to report that we implemented our plan for growth and diversification while generating financial results.”
Sinoenergy is a developer and operator of retail CNG stations as well as a manufacturer of compressed natural gas (CNG) transport truck trailers, CNG station equipment, and natural gas fuel conversion kits for automobiles in China. The company also designs and manufactures customized pressure containers for use in the petroleum and chemical industries.
