China Clean Energy, Inc. (CCGY.OB) Announces Preliminary First Quarter Financial Results
China Clean Energy Inc. is a producer of biodiesel fuel and environmentally-friendly specialty chemical products made from renewable resources in China. The company today announced preliminary financial results for the first quarter ended March 31, 2010. The company net revenue in the first quarter was $10.7 million, up 283% from the first quarter of 2009. The increase in revenue was driven by an increase in volume and average selling prices for both specialty chemicals and biodiesel. Specialty chemical sales volume was up 227% year-over-year and average selling price was up 8% versus the same period last year. Biodiesel sales volume…