HOUSTON, June 23, 2014 (GLOBE NEWSWIRE) -- American Electric Technologies, Inc. (Nasdaq:AETI) a leading provider of power delivery solutions for the global energy industry, announced today that the company has been named to the 2014 Houston Chronicle's top 100 public companies in Houston.
The Chronicle 100, an independent annual report issued by the high-growth city's daily newspaper, rates Houston area public companies based on total revenue, earnings-per-share growth, annual revenue growth and one-year total return to shareholders on a dividend-reinvested basis.
AETI's mission of Empowering Energy™ has strategically positioned the company to provide a full range of turnkey power delivery solutions including M&I Electric-branded power distribution, power conversion, power control/automation systems and power construction and services for the upstream, midstream and downstream oil and gas markets as well as the distributed power generation sector of the global energy industry.
The company's consolidated revenue grew from $39 million in 2010 to $65 million in 2013. The company reported record revenue in both Q3 and Q4 of 2013.
"It's an honor to again be recognized as one of Houston's top 100 leading companies," said Charles Dauber, AETI president and CEO. "This outstanding period of growth and selection to the Houston Chronicle 100 is due in part to the strength of our custom power delivery and turnkey solutions for fast-growing oil and gas energy markets and to AETI's dedicated employees who deliver leading technology, quality engineering and customer satisfaction every day."
For more information about AETI, visit www.aeti.com.
American Electric Technologies, Inc. (Nasdaq:AETI) is a leading supplier of power delivery solutions for the global energy industry. AETI offers M&I Electric™ power distribution and control products, electrical services, and E&I construction services, as well as American Access Technologies zone enclosures, and Omega Metals custom fabrication services. South Coast Electric Systems L.L.C., a subsidiary, services Gulf Coast marine and vessel customers.
AETI is headquartered in Houston and has global sales, support and manufacturing operations in Beaumont, Texas; Keystone Heights, Florida; and Bay St. Louis, Mississippi. In addition, AETI has minority interests in two joint ventures, which have facilities located in Xian, China; and Singapore. AETI's SEC filings, news and product/service information are available at www.aeti.com.
Forward Looking Statements
This press release contains forward-looking statements, as defined in Section 27A of the Securities Exchange Act of 1934, concerning anticipated future demand for our products, international expansion, and other future plans and objectives. While the Company believes that such forward-looking statements are based on reasonable assumptions, there can be no assurance that such future revenues, profits, plans and objectives will be achieved on the schedule or in the amounts indicated. Investors are cautioned that these forward-looking statements are not guarantees of future performance. Actual events or results may differ from the Company's expectations, and are subject to various risks and uncertainties, including those listed in Item 1A of the Form 10-K filed with the Securities and Exchange Commission on March 28, 2014. The Company assumes no obligation to publicly update or revise its forward-looking statements even if experience or future events make it clear that any of the projected results expressed or implied herein will not be realized.
CONTACT: Investor Contact: American Electric Technologies, Inc. Andrew L. Puhala 713.644.8182 firstname.lastname@example.org Media Contact: Molly LeCronier/Roxana Salas Ward Creative Communications 713.869.0707 email@example.com firstname.lastname@example.org
Source:American Electric Technologies, Inc.