Red Chip Client: Ethos Environmental, Inc. (ETEV.OB) Reports Large First Quarter Profit
Ethos Environmental manafactures and distributes a unique line of fuel reformulating products. Their primary objective is to be recognized for their high-quality cleaning and lubricating products which increase fuel mileage and reduce emissions from vehicles. Today the company announced a net income of $1.01 Million dollars for the first quarter in 2007, which is a 46% increase compared to last year's $698,033 figure. The revenues experienced a drastic increase from $1,318,925 to $2,697,133 for a 105% increase. The high demand for the company's products was the main reason for the increase in revenue. The CEO of Ethos Environmental, Enrique de Vilmorin, stated, “We expect our…