US Energy Initiatives Corporation (OTCBB:USEI), manufacturer of patent diesel to natural gas conversion systems, today announced the Company expects to report in excess of 900% growth in revenues for the quarter ended June 30, 2006 compared to the same period in 2005. The Company also estimates it will report over 900% growth in revenues for the six month period ended June 30, 2006 compared to the same period ended June 30, 2005.
“As we strive to evolve our developmental enterprise into an operating competitor, we are pleased with the trends our revenues have shown during this year,” said USEI CEO Mark Clancy. “We anticipate two other meaningful trends including a significant improvement in our cost of goods and the bulk of our revenues are derived from our technology mix and not the result of our recent acquisition. We do expect to report a loss in earnings for the three and six months periods. We are now in the final segment of rebuilding US Energy and we expect to see continued financial improvement each quarter,” concluded Mr. Clancy.
About US Energy Initiatives Corporation
Formed in 1996, the company delivers its patent dual-fuel diesel to natural gas conversion technology and resells a portfolio of gasoline to natural gas and propane conversion systems through both Company-owned and franchised service centers in twelve states and directly to domestic and international original equipment manufacturers.
Loading...