NASV news -
National Automation Services, Inc. Reports Third Quarter 2014 Earnings, Gross Profit up 286% and Revenue up 23% Sequentially Marketwire "Press Releases"
LAS VEGAS, NV -- (Marketwired) -- 11/24/14 -- National Automation Services, Inc. ("NAS") (OTCQB: NASV), a small, but rapidly growing oil and gas services company, reported its third quarter results for the period ending September 30, 2014 . NAS reported third quarter revenue of $5,466,073 , an increase of 23% from the 2nd quarter of 2014. Gross Profit rose to $1,235,248 from $430,601 for an increase of 286%. For the nine month period ending September 30, 2014 NAS reported Net Income of $1,395,606 compared to the same period ending September 30, 2013 of $(90,096) . The 2013 comparable period was at a time prior to the acquisition of our subsidiary JD Field Services, Inc.
NAS CEO Robert Chance said, "We are very pleased with our performance and our strategy. One of our current customers has informed us that they intend on deploying 4 new drilling rigs early in 2015, adding another $6M in gross revenues. This order has not been placed, but we have every reason to believe it will be. We are excited to see our existing customers increase demand, in spite of a falling oil price environment."
This increase in revenue and earnings is attributable to the acquisition strategy of our Company which has added JD Field Services, resulting in an increased revenues in our robust service offerings, improved leveraging our expertise in rig hauling/ moving services, as well as various operational improvements including streamlining of our accounting/management functions, which has provided an annualized savings in excess of $220,000 . Additional costs savings were also realized in decreased fuel expenses as it makes up a large part of our cost of sales.
For further information about National Automation Services, Inc. , visit National Automation Services , read our SEC filings at NASV SEC Filings and subscribe to Email Alerts at Subscribe Today (bottom of the web-page) to receive company news and shareholder updates.
SAFE HARBOR AND INFORMATIONAL STATEMENT This press release may contain forward-looking information within the meaning of Section 21E of the Security Exchange Act of 1934, as amended (the Exchange Act), including all statements that are not statement of historical fact regarding the intent, belief or current expectations of the company, its directors or its officers with respect to, among other things: (i) the company's financing plans; (ii) trends affecting the company's financial conditions or results of operations; (iii) the company's growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words "may", "would", "will", "expect", "estimate", "anticipate", "believe", "intend", and similar expressions and variations thereof are intend to identify forward-looking statements. Investors are cautioned that any such forward-looking statement are not guarantee of future of future performance and involve risks and uncertainties, many of which are beyond the company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors including the risk disclosed in the company's registration statement and reports filed with the SEC . The Company claims the safe harbor provided by Section 21E(c) of the Exchange Act for all forward-looking statements.
Investor Relations Contact: The Olibri Group Briggs Smith 813-438-5225 Email Contact IR Consulting Services Alan Stamper Email Contact 727-771-8773
Source: National Automation Services, Inc.
