Universal Bioenergy Inc., a publicly traded independent diversified energy company, announced today that it set a new all time peak and a new record in sales revenue of over $71.74 million, for the fiscal year ending December 31, 2011.
The $71.74 million in revenues results in an estimated 73.75% increase in revenues over the $41.29 million in reported revenues for 2010. These revenues are preliminary and unaudited. The Company anticipates the formal audit of their financial records will be completed soon, and the full details of its financial results will be reported in its Form 10K Annual Report, to be filed with the SEC.
Universal Bioenergy is a high growth company that continues to expand into multiple segments of the energy industry, and is growing at double digit rates. The Company achieved sales revenue of over $41.29 million for fiscal year ending December 31, 2010. Through its subsidiary NDR Energy Group, it sells natural gas to 28 of the largest public utilities, electric power producers and local gas distribution companies that serve millions of commercial, industrial and residential customers throughout the country. The Company is projecting to double its revenues again for the fiscal year in 2012 through more acquisitions in the energy marketplace, gas storage, gas trading and higher sales of natural gas, propane, oil and coal for electric power plants.
Universal’s President Vince M. Guest states, “We are very excited about the $71.74 million in revenues for 2011, and the 74% increase over our reported $41.29 million in 2010. It’s truly another record year for the Company. The Company will be making major efforts this year to increase our revenues and begin to generate solid earnings for the Company and its shareholders. We proved we could rapidly grow a company and generate double-digit sales, now it’s time to start generating some positive earnings. We believe 2012 will be a great year for the Company.”
About Universal Bioenergy Inc.
Founded in 2004, Universal Bioenergy Inc., is a publicly traded independent diversified energy company that produces and markets natural gas, petroleum, coal and propane. We market energy resources to the largest public utilities, electric power producers and local gas distribution companies in the U.S., that serve millions of commercial, industrial and residential customers. We are also engaged in the acquisition and development of existing or recently discovered oil and gas fields, leases and surface coal mines. For more information, visit www.universalbioenergy.com
Safe Harbor Statement – There are matters discussed in this media information that are forward looking statements within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. Such statements are only forecasts and actual events or results may differ materially from those discussed. For a discussion of important factors which could cause actual results to differ from the forward looking statements, refer to Universal Bioenergy Inc.’s most recent annual report and accounts and other SEC filings. The company undertakes no obligation to update publicly, or revise, forward looking statements, whether as a result of new information, future events or otherwise, except to the extent legally required.
SOURCE: Universal Bioenergy Inc.
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