Oilfield services company HII Technologies Inc. (OTC: HIIT) detailed its “preliminary” second-quarter 2014 financial results, the company said July 21. The quarter ended June 30, the company added.
“On a consolidated basis,” there was more than $6.5 million in revenues, an increase of more than 101% over second-quarter 2013’s revenues of about $3.2 million, HII said.
Additionally, there was about $14 million in preliminary revenues for the six-month period that ended June 30, the company said. This amount marked an increase of 140% over the six-month period that ended June 30, 2013, the company added.
"Currently, the company is on track for its full year revenue guidance, previously announced, of $32.5 million for 2014," said Matthew Flemming, CEO.
"The market for frack water management services, as well as safety services and oilfield power rentals, continues to grow. According to a recent rig count report, Texas and Oklahoma have approximately 61% of the United States’ domestic rigs operating within those states creating significant activity in our geographic operations for our water, safety and power divisions."
HII Technologies Inc. is based in Houston and works domestically.
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