HIIT: A Micro-Cap worth watching closely
Posted: Wed Jul 17, 2013 11:58 am
HII Technologies (HIIT) really impressed me at our luncheon last month. I like the management team and believe they will be cash flow positive by Q4 of this year and earnings positive next year. We will publish a profile on the company next month. - Dan
HII Technologies, Inc. Announces Preliminary Second Quarter 2013 Results
Oilfield Services company HII Technologies reporting preliminary consolidated revenues of $3.1 Million for the quarter ended June 30, 2013 representing an increase of over 580% from the comparable 2012 period
Houston, Texas, July 17, 2013 —HII Technologies, Inc. (the “Company”), symbol HIIT (OTCBB/OTCQB), an oilfield services company headquartered in Houston, Texas, with operations in Texas, Oklahoma, Ohio and West Virginia today announced that its preliminary unaudited results for consolidated revenues from operations for the quarter ended June 30, 2013 exceeded $3.1 million.
On a consolidated basis, the Company’s revenues for the quarter ended June 30, 2013 exceeded $3.1 million, an increase of over 580% compared to the second quarter 2012 consolidated revenues of approximately $449,700. Further, the Company’s preliminary second quarter 2013 revenues represented an increase of approximately 19% from the Company’s first quarter 2013 revenues, which were approximately $2.6 million.
Mr. Flemming, CEO HII Technologies, stated “AES Water Solutions performed well during the quarter with additional frac water supply activity expanding in South Texas Eagle Ford Shale market and the Cline Shale area of West Texas while maintaining good activity in its Oklahoma markets. Our Safety Services division acquired an important new customer during the second quarter effectively doubling its current monthly revenues. South Texas Power increased revenues as a result of the addition and deployment of new equipment in its custom rental fleet of mobile oilfield generators.”
The Company anticipates filing its Quarterly Report on Form 10-Q for the period ended June 30, 2013 and announcing earnings and related financial results for the period by August 15, 2013.
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 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). HII Technologies' objective is to bring proven technologies to these operating divisions to build a long-term competitive advantage. Read more at www.HIITinc.com, www.AESwatersolutions.com and www.Oilfield-Generators.com.
HII Technologies, Inc. Announces Preliminary Second Quarter 2013 Results
Oilfield Services company HII Technologies reporting preliminary consolidated revenues of $3.1 Million for the quarter ended June 30, 2013 representing an increase of over 580% from the comparable 2012 period
Houston, Texas, July 17, 2013 —HII Technologies, Inc. (the “Company”), symbol HIIT (OTCBB/OTCQB), an oilfield services company headquartered in Houston, Texas, with operations in Texas, Oklahoma, Ohio and West Virginia today announced that its preliminary unaudited results for consolidated revenues from operations for the quarter ended June 30, 2013 exceeded $3.1 million.
On a consolidated basis, the Company’s revenues for the quarter ended June 30, 2013 exceeded $3.1 million, an increase of over 580% compared to the second quarter 2012 consolidated revenues of approximately $449,700. Further, the Company’s preliminary second quarter 2013 revenues represented an increase of approximately 19% from the Company’s first quarter 2013 revenues, which were approximately $2.6 million.
Mr. Flemming, CEO HII Technologies, stated “AES Water Solutions performed well during the quarter with additional frac water supply activity expanding in South Texas Eagle Ford Shale market and the Cline Shale area of West Texas while maintaining good activity in its Oklahoma markets. Our Safety Services division acquired an important new customer during the second quarter effectively doubling its current monthly revenues. South Texas Power increased revenues as a result of the addition and deployment of new equipment in its custom rental fleet of mobile oilfield generators.”
The Company anticipates filing its Quarterly Report on Form 10-Q for the period ended June 30, 2013 and announcing earnings and related financial results for the period by August 15, 2013.
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 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). HII Technologies' objective is to bring proven technologies to these operating divisions to build a long-term competitive advantage. Read more at www.HIITinc.com, www.AESwatersolutions.com and www.Oilfield-Generators.com.