This company could be an interesting play for the coming years.
Mr. Yu-Chuan Liu, Chairman and CEO of Sino Gas said, "Our improved operating results are indicative of the continuing strong demand for natural gas in China with the Government's support, rapid urbanization, clean energy promotion and rise in income levels. We will continue to focus on our existing projects in small and medium-sized cities in China, and pursue new business opportunities."
Sino Gas International Holdings, Inc. (SGAS), through its indirectly wholly-owned subsidiary, Beijing Zhong Ran Wei Ye Gas Co., Ltd. ("Beijing Gas"), and the subsidiaries of Beijing Gas, is a leading developer of natural gas distribution systems in small and medium size cities in China, as well as a distributor of natural gas to residential, commercial and industrial customers in China. The company owns and operates natural gas distribution systems in 35 small and medium size cities and serves approximately 183,500 residential and seven industrial customers. Facilities include approximately 1,525 kilometers of pipeline and delivery networks with a daily capacity of approximately 120,000 cubic meters of natural gas. The Company owns and operates natural gas distribution systems in Beijing, Hebei, Jilin, Jiangsu, Anhui and Yunnan Provinces.
The company's website is: http://www.sino-gas.com/
Fourth Quarter 2010 Financial Highlights YOY
· Total revenue increased 36.07% to $11.2 million
· Connection Fees Revenues Increased 16.73% to $5.13 Million
· Gas Sales Increased 58.18% to 6.07 Million
· Gross Profit Increased 23.11% to $5.16 Million
· Operating Income Increased 49.8% to $3.59 Million
Full Year of 2010 Financial Highlights YOY
· Total revenue increased 16.61% to $32.17 million
· Connection Fees Revenues Increased 13.02% to $13.44 Million
· Gas Sales Increased 19.33% to 18.73 Million
· Gross Profit Increased 30.50% to $12.36 Million
· Operating Income Increased 43.83% to $7.29 Million
· Earnings Per Share Diluted $0.15