Frac Water Stock Trading Alert; HII Technologies (HIIT) Gains 22% in Morning Trading on Preliminary First Quarter Results
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Point Roberts, WA - April 10, 2013 (Investorideas.com Newswire, www.water-stocks.com) Investorideas.com staff: Investorideas.com, an investor research portal specializing in investing ideas in leading sectors reports on trading for frac water treatment stock HII Technologies, Inc. (OTCBB: HIIT), trading up over 22% , at $0.22, up 0.04(22.22%) 10:44AM EDT on volume of 543,322 shares. The Company issued news today on preliminary first quarter results.
On a consolidated basis, the Company's revenues for the quarter ended March 31, 2013 was approximately $2.2 million, an increase of over 300% compared to the first quarter 2012 consolidated revenues of approximately $536,000. Further, the Company's first quarter 2013 represented a 45% increase over the Company's fourth quarter 2012 revenues of approximately $1.65 million.
Mr. Flemming, CEO HII Technologies, stated "All three divisions, Water, Power and Safety exceeded budgeted revenue plans for the quarter and met several milestones. AES Water Solutions had significant revenue gains in the quarter as it expanded further into West Texas and South Texas, adding several new customers to its mix. Likewise, both South Texas Power (STP) and AES Safety Services grew revenues and added customers. STP built out its operations in the Eagle Ford Shale market, deploying both generator and light tower rental equipment. AES Safety Services also performed well achieving several goals including establishing operations in Ohio where the State requires safety personnel on site 24/7 from the initial site prep to final completion of the oil or gas well."
The Company anticipates filing its Quarterly Report on Form 10-Q for the period ended March 31, 2013 and announcing earnings and related financial results for the period by May 15, 2013.
Guidance for the Company's second quarter ended June 30, 2013 revenues are estimated at least $2.6 million. This guidance does not include any joint ventures, acquisitions or technology opportunities.
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 to 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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