China Recycling Energy Corp. (CREG.OB) Posts FY 2009 Results, Reporting Impressive Hikes across the Board
China Recycling Energy Corp. is a leading provider of industrial waste-to-energy technologies in China. The company recently posted its full-year 2009 financials and offered guidance for fiscal 2010, reporting a 130 percent hike in revenues. For the year ended Dec. 31, 2009, CREG posted revenues at $44.2 million, up 130 percent from $19.2 million reported for 2008. Product sales contributed $38.3 million, or 86.6 percent, of the total revenue in 2009, compared with $8 million, or 41.9 percent, of the total revenue in 2008. For the year ended Dec. 31, 2009, income from operations grew 229 percent to $13.5 million,…