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| CETY Volume Explodes on News Out Today |
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 Hot Stock to Watch |
Company: Clean Energy Technologies, Inc. (Pink Sheets: CETY)
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Last:
Price: 0.055
Change (%): - 0.003 (5.17)
Volume: 1,215,039 |
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Clean Energy Technologies, Inc. (CETY) Reports Strong Profitable 1st Quarter
COSTA MESA, Calif., June 23, 2016 /PRNewswire/ -- Clean Energy Technologies, Inc. (OTC: CETY), a cleantech company offering heat recovery solutions reported strong performance with 1.2 Million dollars in revenue, of which approximately $250K is classified as EBITDA with approximately $85K of that being profitability for the Company in the 1st quarter of 2016.
Net sales for the first quarter ending March 31, 2016 increased 54% to 1,229,546 dollars compared to $796,290 for the same quarter in 2015. Operating income increased to $235,637 with a net income increase to $85,421 compared to a net loss of $(100,741) for the same period last year. Operating income, net income and earnings-per-share were all up significantly year-over-year.
"There's a global need to implement energy efficiency projects to reduce fossil fuel consumption, we're very excited about the pipeline of opportunities we have with our Heat Recovery Solutions (HRS) business and we are positioning the company to take advantage of these energy efficiency initiatives to support a sustainable profitable growth, as well as a cleaner future for our planet," said Kam Mahdi, CEO of CETY.
About Clean Energy Technologies, Inc.
Clean Energy Technologies, Inc., designs, builds and markets clean energy products focused on energy efficiency and environmentally sustainable technologies. The Company's principal product is the Clean CycleTM generator, offered by Heat Recovery Solutions, or HRS. The Heat Recovery Solutions system captures waste heat from a variety of sources and turns it into electricity that users can use or sell back to the grid. CETY's proven cutting-edge technology allows any commercial or industrial heat generators to boost their overall energy efficiency with no fuel, no pollutants and virtually no maintenance. The Company's engineering and manufacturing resources, support our heat recovery solutions business, as well as continuing to support other Clean Energy emerging growth companies with their technologies. CETY is positioned to become a worldwide leader in ever expanding energy efficiency market. Headquartered in Costa Mesa, California, the Company's common stock is currently traded on the OTC Market under the symbol CETY. For more information regarding CETY, please visit www.cetyinc.com.
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