Atlantic Energy Solutions Fiscal Year '08 Performance Supports aStronger 2009
Apr 8, 2009 09:01:53 (ET)
SARATOGA SPRINGS, NY, Apr 08, 2009 (MARKET WIRE via COMTEX) -- Atlantic Energy Solutions, Inc. (PINKSHEETS: AESO) is pleased to announce that they completed their 2008 fiscal year with annual revenues equaling $7.9M, a 36% increase in revenue over the same period in 2007 and that the Company is expecting much of the same in 2009 and 2010. Net income for the period ending December 31, 2008 was $535,000, or slightly less than 2007 due to Company investment in new markets and energy related projects. Shareholder value increased by over 100% and the Company market cap increased to $35.9M from $9M during 2008.
The Company submitted its YE08 annual report for publication on April 7, 2009 and is now awaiting final approval from the review board so that it may be posted on the Pink Sheets ( www.pinksheets.com ) Board.
According to Tim Brock, CEO of Atlantic Energy Solutions, "We are pleased with our results and we are confident that decisions made over the years to achieve our market position in the energy sector are now paying off. We acknowledge that global economic conditions are affecting all businesses and that Atlantic Energy is no exception. The Company is constantly assessing its capital requirements in support of shareholder value and client objectives. While the economic climate is daunting, we are confident in the stated growth of the energy sector and that Atlantic Energy will continue to be awarded with projects at a similar if not greater pace as we have in the past." |
