(Source: Datamonitor)
China Natural Gas, engaged in the distribution and sale of natural gas, has reported a net income of $4.2 million, or $0.29 per diluted share, for the first quarter ended March 31, 2009, compared to $2.8 million, or $0.19 per diluted share, for the same period of 2008.
The company has reported revenue of $18.5 million for the first quarter ended March 31, 2009, compared to $14 million for the same quarter of 2008.
China Natural Gas has reported an operating income of $5.6 million for the first quarter ended March 31, 2009, compared to $3.8 million for the same period of 2008.
Qinan Ji, chairman and CEO of China Natural Gas, said: "We are pleased with strong financial performance in the first three months of 2009. During this quarter, we signed an agreement with the governments of Yulin city and Shaanxi province that secured our power supply and provided a cost savings of approximately RMB26 million.
"We became the exclusive provider of natural gas services to Xi'an Baqiao Science and Technology Industrial Park, a transportation hub to eastern China. We also grew our customer base for compressed natural gas to nearly 100,000 accounts."
A service of YellowBrix, Inc.
