MagneGas Generates $3.0 million in Q2 Sales
MAGNEGAS (MNGA)
Last magnegas earnings: 11/14 08:00 am
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Source: GlobeNewswire
Record Quarter Represents Annual Sales Increase of 213% TAMPA, Fla., July 11, 2018 (GLOBE NEWSWIRE) -- MagneGas Corporation ("MagneGas" or the "Company") (NASDAQ:MNGA), a leading clean technology company in the renewable resources and environmental solutions industries, today announced preliminary sales results and provided an update on operational activities for the second quarter of 2018. Second quarter sales were $3.0 million, representing a 213% increase from the same period in 2017. The increased revenue is a direct result of MagneGas’ commercial acquisition strategy and underscores the immediacy in value generation from recent accretive acquisitions. Following MagneGas’ acquisition of Complete Welding of San Diego last January, sales in the San Diego market have outpaced other domestic markets in 2018. Robust commercial activity led to second quarter 2018 revenues increasing by 70% compared to the first quarter of 2018. Complete Welding also experienced its highest sales
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