Boston, MA 09/11/2014 (wallstreetpr) – As per the reports, Recon Technology, Ltd. (NASDAQ:RCON) expects to report around $15 million revenue for the fiscal year that ended on June 30, 2014. It is 20% more than the previous year’s revenues. According to management, the main reason behind this surge in revenue is due to hike in the sales of hardware products to its oilfield company customers. According to an estimate, the sales of RCON have increased more than 100% YOY.
CEO’s Words:
According to Mr. Shenping Yin, CEO and Chairman of Recon Technology, Ltd. (NASDAQ:RCON), “Our Company has been able to decrease its cost and increase its production followed by increment in sales of automation products.” He further added that the negative trend of yearly revenue generation was offset by excellent fracturing services.
Bottom Line Improvements:
Mr. Yin seemed quite please with the way RCON performed over the past twelve months. He was confident that after generating excellent sales figures over the past twelve months, Recon Technology, Ltd. (NASDAQ:RCON) would also be able to report a decent operating profit. It reported a huge operational loss in fiscal 2013. He also believed that along with operational profit, RCON would also report significant net adjusted income and net income figure for the same period.
While answering a question about the probable date of financial results filing, Mr. Yin said that Recon Technology, Ltd. (NASDAQ:RCON) would file its annual fiscal report 2014 on September 29, 2014. Date can be changed by a day or two if need arises. The figures represented by the management have been derived from the present data; hence, people may get to see different figures at the time of final report submission. Just after the release of the final report for the fiscal year 2014, both CEO Mr. Yin and CTO Mr. Guangqiang Chen will be available in New York to meet with interested shareholders.
