Frac Water Stock Alert: HII Technologies (OTCBB: HIIT) Reports Record Fourth Quarter Revenues of $1.65 million, Adjusted EBITDA of $345,000 and Net Income of $206,000
"Our acquisition of AES Water Solutions, commercialization of South Texas Power, and key additions to the management team provided great value to our stockholders" - M Flemming, CEO
Category: Investment, Water, Renewable Energy
News about: HII Technologies
Point Roberts, WA - March 26, 2013 (Investorideas.com Newswire, www.water-stocks.com) Investorideas.com, an investor research portal specializing in sector research for independent investors reports microcap frac water stock HII Technologies, Inc. (OTCBB: HIIT).
The oilfield services company head-quartered in Houston, Texas, announced financial results for the fourth quarter and year ended December 31, 2012 yesterday.
As stated in the Company's 2012 Annual Report on Form 10-K filed on March 25, 2013, the fourth quarter 2012 revenues were approximately $1.65 million. For the fourth quarter ended December 31, 2012, the Company had Net Profit of approximately $206,000,and Adjusted EBITDA of approximately $345,000, (EBITDA defined as earnings before interest, depreciation, amortization, non-cash stock option expenses, and one-time non-operational expense items), a non-GAAP measure.
About HII Technologies, Inc. (OTCBB: HIIT)
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). Read more at www.HIITinc.com
www.AESwatersolutions.com and www.oilfield-generators.com.
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