HOUSTON, June 24, 2013 (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 2013 Houston Chronicle's top 100 publicly traded companies in Houston.
The Chronicle 100 is an independent annual report that 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.
Over the past five years, AETI has strategically positioned itself to provide a full range of turnkey power delivery solutions including M&I Electric power distribution, power conversion, power control/automation systems, and electrical construction and services for the oil & gas and power generation and distribution sectors of the global energy industry. As a result of this strategy, the company has experienced significant growth, including recently announcing a 395 percent increase in net income for the first quarter of 2013. This growth, along with AETI's selection to the prestigious Houston 100, validates their mission of "Empowering Energy ™" for the global energy market.
"It's an honor to be recognized as one of Houston's top 100 leading companies," said Charles Dauber, President and CEO, AETI. "Our outstanding period of growth and selection to the Houston Chronicle 100 is due in part to our strength of our custom power delivery and turnkey solutions for the fast growing oil & gas energy markets and to AETI's dedicated employees who deliver outstanding customer satisfaction every day."
For more information about AETI, visit their website at 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 three joint ventures, which have facilities located in Xian, China; Singapore; and Macae, Brazil. 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, 2013. 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 Contacts: American Electric Technologies, Inc. Andrew L. Puhala 713-644-8182 firstname.lastname@example.org Media Contact: Molly LeCronier Ward Creative Communications 713.869.0707 email@example.com
Source:American Electric Technologies, Inc.