ALLENTOWN, Pennsylvania, April 30, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- American Energy Partners, Inc. (“American Energy”) (PINK: AEPT), a diversified energy company, announces preliminary performance indicators and record topline growth.
The three months ended March 31, 2020 has shown staggering growth compared to Q1 of the previous year. Amidst the most volatile commodity cycle in recent history, American Energy has shown a significant increase in revenue, as well as the following additional KPI’s:
· Q1 2020 revenue has grown from just under $16,000 in Q1 2019 to just under $250,000. This represents a growth rate of approximately 1,462%;
· Q1 2020 net income has grown from a deficit of just over $82,000 in Q1 2019 to a gain of over $29,500. This represents a growth rate of approximately 136%;
· Q1 2020 total assets has grown from just under $88,000 in Q1 2019 to just under $302,000. This represents a growth rate of approximately 243%;
· Q1 2020 accounts receivable has grown from just over $9,200 in Q1 2019 to just over $162,500. This represents a growth rate of approximately 1,666%;
The volatility within the U.S. markets has presented various opportunities for American Energy’s “buy and build” strategy. The Company has reviewed a number of undervalued assets and is currently in active discussions with several acquisition targets within the Energy Services Sector.
Brad Domitrovitsch, Chairman & CEO of American Energy, stated, “Our strategy to further distance ourselves from the volatile oil and gas market has continued to pay off. Q1 revenues derived from oil and gas represent less than 10% of total Q1 revenues. Geotechnical sales continue to be a strong driver and a testament to our managements’ foresight and ingenuity.”
American Energy Partners, Inc. (AEPT)
AEPT and its group of companies focus on providing solutions in markets where energy production and water meet technology. Collectively, the subsidiaries are engaged in the energy sector as well as the design, construction and operation of regional water treatment facilities that serve the industrial, energy and government sectors.
For additional information, visit: American Energy Partners, Inc.
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