Matt can you give investors a brief overview of the different divisions within HII Technologies?
A; Mr. Matthew Flemming, CEO
HII Technologies includes services and technology in Water, Safety and Power. The Company’s frac water supply services subsidiary does business as AES Water Solutions, its onsite oilfield contract safety consultancy operates as AES Safety Services, and its mobile oilfield power subsidiary does business as South Texas Power (STP). Its primary operations are in Texas and Oklahoma.
According to Baker Hughes Rig Count recent published data, about 57% of the rigs in the United States are operating in Texas and Oklahoma.
The Company is positioned to take advantage of the significant anticipated growth in horizontal drilling and hydraulic fracturing within the United States. Active shale and unconventional “tight oil” plays such as Eagle Ford Shale, Woodbine, Permian basin and Granite Wash are monetized by HIIT deploying new oilfield related technologies to enhance the value of its Water, Safety and Power services to its customers.
Q: Investorideas.com
You recently announced fourth quarter and year end results. Can you give us the highlights and how each division performed?
A; Mr. Matthew Flemming, CEO HII Technologies:
Our fourth quarter '12 revenues of $1.64 million exceed the cumulative total of the first three quarter’s 2012 combined. Our largest division, AES Water Solutions performed exceptionally well for the quarter and year ending December 31, 2012. Also, the Safety and Power divisions being relatively new are anticipated to have significant further revenue impact in 2013 as we go forward. AES also made a purchase of water transfer assets and rolling stock in November ’12 for about $600 thousand which management believes was more than $1.2 million in market value. These assets were quickly deployed in the field to build our rental fleet of equipment and had a positive impact on revenues during the 4 th quarter 2012.
Q: Investorideas.com
You also just reported preliminary first quarter 2013 revenues up an estimated 300%. Can you discuss the growth curve and factors contributing to the numbers?
A; Mr. Matthew Flemming, CEO HII Technologies;
For fiscal 2013, we anticipate additional revenue contribution from the Power and Safety divisions, known as South Texas Power and AES Safety Services. All three divisions, Water, Power and Safety exceeded budgeted revenue plans for the 1 st quarter 2013 and met several milestones. AES Water Solutions had significant revenue gains in the quarter as it expanded further geographically into West Texas and South Texas, adding several new customers to its mix. Likewise, both South Texas Power (STP) and AES Safety Services grew revenues and added customers. STP built out its operations in the Eagle Ford Shale market, deploying both generator and light tower rental equipment. AES Safety Services also performed well achieving several goals including establishing operations in Ohio where the State requires safety personnel on site 24/7 from the initial site prep to final completion of the oil or gas well.
Q: Investorideas.com
Can you give investors insight into your competitive advantages from both technology and cost perspectives?
A; Mr. Matthew Flemming, CEO HII Technologies;
One significant example at South Texas Power ; when we bring natural gas powered generators to onsite oilfield operations where no electricity grid exists, we can cut the cost of fuel by 80% or more compared to traditional diesel powered generators for oilfield customers.
In our water division, we are looking into technology solutions to provide h igh volume, price competitive, onsite, mobile recycling of flow back water used in hydro-fracing.
Our technology and pricing gives us a long term sustained advantage.
Q: Investorideas.com
Your reported revenue guidance of $2.6 million for the second quarter 2013; can you give insight to where you see the revenue growth within each division?
A; Mr. Matthew Flemming, CEO HII Technologies
This is modeled off our current revenue run rates by division and again because of our two newer divisions we believe we will continue to see good top line revenue growth on a consolidated basis.
Q: Investorideas.com
Where do you see the most potential moving forward?
A; Mr. Matthew Flemming, CEO HII Technologies
The water market is very large and growing especially in oil and gas segment. Its is possible that the water market for oilfield could represent a large long term opportunity if the commodity scarcity continues to play a role and oil/gas companies continue to pay such hefty amounts to source water for their hydro-fracing uses.
About HII Technologies, Inc. (OTCBB: HIIT)
HII Technologies, Inc. is a Houston, Texas based oilfield services company with operations in Texas, Oklahoma, Ohio and West Virginia. The Company is positioned to take advantage of the significant anticipated growth in horizontal drilling and hydraulic fracturing within the United States' active shale and unconventional "tight oil" plays by deploying new oilfield related technologies to enhance the value of services to its customers. The Company's frac water supply services subsidiary does business as AES Water Solutions, its onsite oilfield contract safety consultancy operates as AES Safety Services, and its mobile oilfield power subsidiary does business as South Texas Power (STP). Read more at www.HIITinc.com, www.AESwatersolutions.com and www.oilfield-generators.com.
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800-665-0411 - Source - www.Investorideas.com, HIIT
On a consolidated basis, the Company's revenues for the quarter
ended March 31, 2013 was approximately $2.2 million, an increase of over
300% compared to the first quarter 2012 consolidated revenues of
approximately $536,000. Further, the Company's first quarter 2013
represented a 45% increase over the Company's fourth quarter 2012
revenues of approximately $1.65 million.
About HII Technologies, Inc. (
As reported in the Company's 2012 Annual Report on Form 10-K
audited results, Current Assets increased by approximately $1.06 million
to approximately $1.74 million from the previous quarter ended
September 30, 2012. The Company's Stockholder's Equity (Total Assets
minus Total Liabilities) increased by approximately $258,000 to
approximately $871,000, sequentially from the previous quarter ended
September 30, 2012. These increases were directly attributable to the
Company's acquisition of AES on September 26, 2012 and its operational
performance in the fourth quarter 2012.
The Company believes the fourth quarter Statement of Operations is
more meaningful than the full fiscal year 2012 results as AES was
purchased on September 26, 2012. The fiscal year 2012 audited financial
statements and pro forma income statement, illustrating the Company's
Statement of Operations as if it owned AES for the entire fiscal year
2012, is available within the Company's 2012 Annual Report on Form 10-K.
The Company anticipates releasing further corporate updates and
information including initial 2013 revenue guidance by April 2013.
