Six Six Five Energy, Inc. (OTC: SSOF) late Thursday announced its financial results for the third quarter of 2018, including its sales and margin growth for the three months ended September 30, 2018, and an update on its audit. Among the highlights, the company recorded revenues of $2.7 million for the three-month period, marking a year-over-year increase of 47 percent. Similarly, the company’s net margins increased to 14 percent in the third quarter of 2018, as compared to six percent in the prior year period. “In the third quarter we worked on consolidating our business, and going forward we expect to see continued improvement in our overall profit margins,” Jason Clayton, president and CEO of SSOF, stated in the news release.
Regarding SSOF’s original audit, CFO Jim Frazier stated, “The original audit was to be completed on 66 Oilfield Services, LLC when it was acquired by Medically Minded, Holding Corp. and the public holding company’s name changed to Sixty Six Oilfield Services, Inc. This audit was stopped due the pending acquisition of Fluid End and the need to expand the audit beyond its original scope to include another acquisition with a much larger inventory. As we have now completed the acquisition of Fluid End along with necessary consolidations, we will begin the Company audit.”
To view the full press release, visit http://nnw.fm/X7Vgo
About Six Six Five Energy, Inc.
Six Six Five Energy, formerly Sixty Six Oilfield Services, is now a third-generation heavy oil field equipment company founded in Oklahoma in 1959. Subsequent to the period ended June 30, 2018, the Company has completed the exchange with Fluid End Sales (doing business as Five Star Rig and Supply) which was established as a family owned business in 1983. The Company focuses on supplying the oil industry with custom drilling rigs, heavy-weight drill pipe, drill collars, pup joints, pony collars, handling tools, tubing, casing, blow-out preventers, engines, compressors and other select equipment to customers world-wide through its facilities in Oklahoma City. The Company’s services include the sale of new equipment, sale of refurbished and certified used equipment, as well as rental of oilfield equipment. For more information, visit the company’s website at www.665Energy.com
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