SinoTech Energy Ltd. (CTE) Raises Expectations for Fiscal Year 2011
Located in China, SinoTech has rapidly evolved as a provider of enhanced oil recovery (“EOR”) services. Today, the company announced an updated financial outlook for fiscal year 2011. SinoTech also told investors that it will release its unaudited financial results for the second quarter ended March 31, 2011, on May 19, 2011. Based on current business and operating conditions, SinoTech expects to report total sales in the range of US$100 million to US$105 million in fiscal year 2011. The numbers greatly exceed the previously announced range of US$90 million to US$95 million. Leading the way at SinoTech is Mr. Boxun…