ALLENTOWN, Pennsylvania, April 30, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- American Energy Partners, Inc. (“American Energy”) (PINK: AEPT), a diversified energy company, announces preliminary performance indicators and record topline growth.
The three months ended March 31, 2020 has shown staggering growth compared to Q1 of the previous year. Amidst the most volatile commodity cycle in recent history, American Energy has shown a significant increase in revenue, as well as the following additional KPI’s:
· Q1 2020 revenue has grown from just under $16,000 in Q1 2019 to just under $250,000. This represents a growth rate of approximately 1,462%;
· Q1 2020 net income has grown from a deficit of just over $82,000 in Q1 2019 to a gain of over $29,500. This represents a growth rate of approximately 136%;
· Q1 2020 total assets has grown from just under $88,000 in Q1 2019 to just under $302,000. This represents a growth rate of approximately 243%;
· Q1 2020 accounts receivable has grown from just over $9,200 in Q1 2019 to just over $162,500. This represents a growth rate of approximately 1,666%;
The volatility within the U.S. markets has presented various opportunities for American Energy’s “buy and build” strategy. The Company has reviewed a number of undervalued assets and is currently in active discussions with several acquisition targets within the Energy Services Sector.
Brad Domitrovitsch, Chairman & CEO of American Energy, stated, “Our strategy to further distance ourselves from the volatile oil and gas market has continued to pay off. Q1 revenues derived from oil and gas represent less than 10% of total Q1 revenues. Geotechnical sales continue to be a strong driver and a testament to our managements’ foresight and ingenuity.”
American Energy Partners, Inc. (AEPT)
AEPT and its group of companies focus on providing solutions in markets where energy production and water meet technology. Collectively, the subsidiaries are engaged in the energy sector as well as the design, construction and operation of regional water treatment facilities that serve the industrial, energy and government sectors.
For additional information, visit: American Energy Partners, Inc.
Safe Harbor
This press release contains forward-looking statements, particularly as related to, among other things, the business plans of AEPT, statements relating to goals, plans and projections regarding AEPT’s financial position and business strategy. The words or phrases “would be,” “will allow,” “intends to,” “may result,” “are expected to,” “will continue,” “anticipates,” “expects,” “estimate,” “project,” “indicate,” “could,” “potentially,” “should,” “believe,” “think”, “considers” or similar expressions are intended to identify “forward-looking statements.” These forward-looking statements fall within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934 and are subject to the safe harbor created by these sections. Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions or orders that may be cancelled, and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of global economic conditions, the performance of management and our employees, our ability to obtain financing, competition, general economic conditions and other factors that are detailed in our periodic reports and on documents we file from time to time with the Securities and Exchange Commission. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. AEPT cautions readers not to place undue reliance on such statements. AEPT does not undertake, and AEPT specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement. Actual results may differ materially from AEPT’s expectations and estimates.
Company Contact:
contact@americanenergy-inc.com