ALLENTOWN, Pennsylvania, Aug. 13, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- American Energy Partners, Inc. (“American Energy”) (PINK: AEPT), a diversified energy company, releases Q2 financials, highlighting key performance indicators and another quarter of record topline growth.
The three months ended June 30, 2020 has produced record growth compared to both Q2 of the previous year, as well as 2020 Q/Q growth. American Energy has shown a significant increase in KPIs, as summarized by the following:
· Q2 2020 revenue has grown from just over $13,500 in Q2 2019 to just under $173,000. This represents a growth rate of over 1,100%,
· Q2 2020 total assets have grown from just over $87,000 in Q2 2019 to just over $294,000. This represents a growth rate of over 225%,
· Q2 2020 accounts receivable has grown from $11,000 in Q2 2019 to just over $68,000. This represents a growth rate of over 500%,
· Q2 2020 ending cash balance has grown from just under $2,000 in Q2 2019 to just over $120,000. This represents a growth rate of over 5,000%.
Brad Domitrovitsch, Chairman & CEO of American Energy, stated, “American Energy remains unaffected by the current business climate and we continue to drive strong revenue growth, primarily lead by geotechnical services. Our team is firing on all cylinders and I could not be more proud to deliver Q2’s results.” Mr. Domitrovitsch went on to say, “Q3 has already proved to be exciting with the issuance of a patent from the USPTO and Oilfield Basics posed to drop more online courses in the coming days.”
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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