NF Energy Saving Corp. reported net income of $4.8 million, or $0.36 per share, in 2009, a strong improvement over the $3.7 million earned in 2008. Revenues also showed a strong increase in 2009, coming in at $20.3 million, compared to $15.8 million in 2008.
Gang Li, the CEO of NF Energy Saving Corporation, said, “Despite a difficult economic year, NF Energy has achieved strong financial performance in 2009. Sales of our patent protected, high-quality customized flow-control systems continue to grow at a solid rate last year. Driven by the Chinese government’s continuous support to the energy service industry, we expect sound organic growth of our energy efficiency and emission reduction consulting services business in 2010 and beyond.”
NF Energy Saving Corporation is based in China and provides services and equipment to help companies save energy. The company serves the construction, municipal infrastructure, power generation, and chemical industry.
NF Energy Saving’s major product line is flow control equipment for use in pipelines that transport oil, water, and natural gas. The flow control equipment allows the pipeline owner to more properly manage the allocation of the product being transported.
NF Energy Saving Corporation estimates the annual energy savings through the use of its flow control product at 20%.