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SOURCE Energtek Inc.
Company Expects to Reach $10M Revenues in 2013 - Ahead of Projections
A Further Quarterly Increase of 20% as Compared to Q1-2013
Revenues in Q2-2013 Almost Surpass Revenues for All of 2012
NEW YORK, Sept. 11, 2013 /PRNewswire/ -- Energtek Inc. (OTCBB: EGTK), a leader in hi-tech natural gas solutions and Adsorbed Natural Gas (ANG) technology, announced that Q2-2013 revenues reached $2.565m, an increase of more than 20% as compared with the $2.1m for Q1-2013.
The revenues in Q2-2013 are comparable to those for the whole year of 2012.
Energtek expects to reach this year $10,000,000 in revenues, well ahead of the projections of achieving this goal only in 2014.
As of June 30th, 2013, the average daily quantities of natural gas delivered to Aluminij are higher than 25,000 standard cubic meters, an increase of more than 30% from the 18,000 m3 delivered as of end Dec 2012.
"We are pleased to confirm that for the second quarter in a row we have steadily increasing revenues that put us on the pace of about $10m for the year," said Michael Greenfield, Treasurer of Energtek. "Once more we are showing that our claims are realistic and that we are on the right track."
Energtek develops and applies innovative low-pressure mobile transportation solutions for industrial consumers and fleets of small vehicles. The company is also involved on oil and gas exploration in Israel. Energtek operates subsidiaries in North America, Europe, Asia and the Middle East. To learn more about Energtek, visit www.energtek.com
This release contains forward-looking statements within the meaning of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of Energtek and its technologies. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and other matters set in Energtek's filings. These risks and uncertainties could cause actual results to differ materially from those indicated in the forward-looking statements.
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