PXS: Explanation for business result in Quarter 3/2010

Petroleum Equipment Assembly and Metal Structure Joint Stock Company (HOSE: PXS) explained fluctuation in business result between Quarter 3/2010 and Quarter 3/2009 as follows:

On November 26, 2009, the Company was changed from a limited company to a joint stock company, increased capital, expanded business fields, and has operated effectively. In 2010, there have been contracts with great value, so revenue in Quarter 3/2010 was higher than Quarter 3/2009. Besides, PXS has co-operated with investor firms to increase the number of balances because new circulars on unit labor costs has been applied.

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