MagneGas Generates $1.0 Million in Sales for December
MAGNEGAS (MNGA)
Last magnegas earnings: 11/14 08:00 am
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Source: GlobeNewswire
Sales Increase of 212% Compared to Prior Year TAMPA, Fla., Jan. 15, 2019 (GLOBE NEWSWIRE) -- MagneGas Applied Technology Solutions, Inc. ("MagneGas" or the "Company") (NASDAQ: MNGA), a leading clean technology company in the renewable resources and environmental solutions industries, announced today that the Company generated sales of $1.0 million for the month of December, as compared to $0.32 million in December 2017, representing a 212% increase. The sales growth was primarily a result of MagneGas’ expansion into California, Texas and Louisiana through six acquisitions it made in 2018. Overall, December is historically the slowest sales month for MagneGas, impacted primarily due to the holiday season. Given both Christmas and New Years’ holidays occurred mid-week in 2018, MagneGas lost 3 out of 23 business days to observe those holidays for its employees during the month. Despite the expected seasonal slowdown, sales from MagneGas’ California operations were most resilient in
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