Business
ZK International Issues Revenue Guidance of 25% Year-over-Year Growth for Fiscal Year 2019
WENZHOU, China, April 17, 2019 /PRNewswire/ -- ZK International Group Co., Ltd. (ZKIN) ("ZK International" or the "Company"), today provides revenue guidance
About this update from Zk International Group Co., Ltd
[{"type":"text","content":"WENZHOU, China, April 17, 2019 /PRNewswire/ -- ZK International Group Co., Ltd. (ZKIN) (\"ZK International\" or the \"Company\"), today provides revenue guidance for the fiscal year 2019. The Company anticipates revenue to increase by $13.7 million, or 25%, to approximately $68.6 million for the fiscal year ending September 30, 2019 from $54.9 million for the fiscal year ended September 30, 2018. \nRevenue growth year-over-year will be primarily driven by the continuing urbanization of China and the local government's initiatives to improve existing and new water and gas infrastructure. The Ministry of Housing and Urban-Rural Development has openly encouraged the application of stainless steel piping systems such as ZK International's proprietary products as the preferred pipe material as compared to copper. To expedite the process, the government is working with local agencies to implement these standards. \nMr. Jiancong Huang, Chairman and Chief Executive Officer of ZK International, stated, \"We are anticipating revenue growth of 25% for fiscal year 2019, falling in line with our approximate year-over-year growth rate we have experienced historically. The continued urbanization of China and the evolving government standards has allowed us to build new customer relationships to support these efforts. In 2018, we invested our revenue in sales and marketing in anticipation of the growth we expect to achieve in the coming year. We remain committed to producing high quality products and leading the water and gas infrastructure upgrade initiatives in China.\"\nAbout ZK International Group Co., Ltd.\nZK International Group Co., Ltd. is a China-based designer, engineer, manufacturer, and supplier of patented high-performance stainless steel and carbon steel pipe products that require sophisticated water or gas pipeline systems. The Company owns 28 patents, 21 trademarks, 2 Technical Achievement Awards, and 10 National and Industry Standard Awards. ZK International is Quality Management System Certified (ISO9001), Environmental Management System Certified (ISO1401), and a National Industrial Stainless Steel Production Licensee that is focused on supplying steel piping for the multi-billion dollar industries of Gas and Water sectors. ZK has supplied stainless steel pipelines for over 2,000 projects, including the Beijing National Airpo...