MagneGas Reports Financial Results for the First Quarter of 2015

Revenue Increased 184.8% to $545,648 Metal Cutting Revenue Increased 305.1% to $522,315 TAMPA, Fla., May 13, 2015 /PRNewswire/  MagneGas Corporation ( MagneGas or the Company ) (MNGA), a technology company that counts among its inventions a patented process that converts liquid waste into MagneGas® fuel, today announced financial results for the first quarter ending March 31, 2015. Financial Highlights – March 31, 2015 Revenues for the three months ended March 31, 2015 increased 185% over the same period 2014 and were $545,648 and $191,601, respectively; Gross margins remained flat at 45% despite the introduction of the new MagneGas2® product line; The Company had an ending cash balance of $4,139,699 on March 31, 2015. Ermanno Santilli, Chief Executive Officer of MagneGas stated, We are making steady progress as evidenced by our increased sales and addition of premier customers, including a top five U.S. utility company, one of the largest cement companies in North America, the Fi


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

%d bloggers like this: