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American Power Group Corporation Reports Third Quarter Fiscal 2016 Results
American Power Group Corporation Reports Third Quarter Fiscal 2016 Results.
About this update from American Power Group Corp.
[{"type":"text","content":"\n \n \n American Power Group Corporation Reports Third Quarter Fiscal 2016 Results\n \n \nAmerican Power Group Corporation Reports Third Quarter Fiscal 2016 Results\n\nDual Fuel Conversion Revenue For North American HD Trucks Increased 383 Percent Over Prior Year\n\n \n LYNNFIELD, MA--(Marketwired - Aug 22, 2016) - American Power Group Corporation (OTCQB: APGI), today announced results for the three and nine months ending June 30, 2016\n Lyle Jensen, American Power Group Corporation's Chief Executive Officer, stated, \"While our overall third quarter was relatively flat, we are very pleased that vehicular dual fuel revenue continues to become a larger portion of our overall revenue. Domestic vehicular dual fuel revenue grew 383 percent over the prior year and our international dual fuel vehicular revenue grew 34 percent over the prior year quarter due to conversion activity in Mexico where aggressive actions are being taken to accelerate technologies that can improve their air quality. On a year-to-date basis, domestic vehicular dual fuel revenue is up over 470 percent or close to $750,000 bolstered by our recent announcement of WW Transport surpassing the 100+ vehicular unit conversion milestone. Our domestic stationary oil/gas conversion revenue was down on a quarterly and year-to-date basis but we have seen a healthy increase of eighty drill rigs coming back on line at the mid-point of the fourth quarter which is encouraging as compared to the historical lows of the third quarter.\"\n Mr. Jensen added, \"As we enter the second half of the calendar year we anticipate deploying our Trident/NGL flare capture and recovery equipment initially in the Bakken shale region of North Dakota within the very near future based on contract discussions with several notable oil and gas operators. One of the targeted customer's remote well-site is completing their drilling and fracking phase which would allow us to move our equipment on site and begin operating later in 2016. Earlier today it was announced that we have received our MHA Nation TERO business license which gives us priority access to perform flare capture and recovery services as well as sales of dual fuel systems on the Fort Berthold Indian Reservation (\"FBIR\") which is located in the heart of the Bakken shale region in North Dakota. The North Dakota Indus...