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American Power Group Corporation Reports First Quarter Fiscal 2016 Results
American Power Group Corporation Reports First Quarter Fiscal 2016 Results.
About this update from American Power Group Corp.
[{"type":"text","content":"\n \n \n American Power Group Corporation Reports First Quarter Fiscal 2016 Results\n \n \nAmerican Power Group Corporation Reports First Quarter Fiscal 2016 Results\n \n LYNNFIELD, MA--(Marketwired - Feb 11, 2016) - American Power Group Corporation (OTCQB: APGI) today announced results for the three months ending December 31, 2015.\n Lyle Jensen, American Power Group Corporation's Chief Executive Officer, stated, \"While our current overall quarterly revenue was down 53 percent compared to last year due to lower oil prices and the resulting idling of numerous oil rigs, our quarterly non-oil and gas stationary revenue grew 166 percent as compared to December 2014. We have begun to focus our efforts more on sustainability driven opportunities which resulted in the conversion of multiple backup diesel generators for a large sportswear manufacturer's distribution warehouse during the quarter. Overall vehicular conversion quarterly revenue was up over $100,000 or over 200 percent over the prior year with growth coming from both domestic and international markets.\"\n Mr. Jensen concluded, \"Despite the current tight economic price spread between diesel and natural gas, we believe federal and state driven diesel emission reduction programs, as well as incentive/tax rebate programs, present key revenue opportunities for us in 2016. APG's dual fuel solution has achieved some of the lowest documented NOx levels ever recorded on a Class 8 Heavy Duty truck which, on average, is an additional 50 percent below the current 2010 EPA/CARB NOx level standard. With so much emphasis on climate change and reduction of harmful diesel related emissions, APG is positioned to take advantage of our emission reduction capabilities.\" \n Conference Call\n Please join us today, February 11, 2016 at 10:00 AM Eastern when we will discuss the results of the three months ended December 31, 2015. To participate, please call 1-888-430-8709 and ask for the American Power Group call using pass code 5014147. A replay of the conference call can be accessed until 11:50 PM on February 29, 2016 by calling 1-888-203-1112 and entering pass code 5014147.\n Results of Operations\n Three Months ended December 31, 2015 Compared to the Three Months ended December 31, 2014\n Net sales for the three months ended December 31, 2015 decreased $561,000 or ...