HII Technologies, Inc. (HIIT) News http://ir.hiitinc.com/rss The latest news released by HII Technologies, Inc. (HIIT) en-us Equisolve Investor Relations Suite http://content.stockpr.com/hiitinc/files/HII-tech-logo.png HII Technologies, Inc. (HIIT) News http://ir.hiitinc.com/rss 88 31 HII Technologies, Inc. Announces Notice of Default Under Its Senior Loan Facility http://ir.hiitinc.com/press-releases/detail/600/hii-technologies-inc-announces-notice-of-default-under-its-senior-loan-facility Wed, 15 Jul 2015 18:37:00 -0400 http://ir.hiitinc.com/press-releases/detail/600/hii-technologies-inc-announces-notice-of-default-under-its-senior-loan-facility HOUSTON, TX--(Marketwired - July 15, 2015) - HII Technologies, Inc. (OTCQB: HIIT) ("HII Technologies" or the "Company"), an oilfield services company headquartered in Houston, Texas, received notice from Heartland Bank that it is in default under the loan agreements for its senior secured credit facility, which consists of a $12 million 3-year term loan and a $6.6 million account purchase agreement. This default could lead to a mandated acceleration of repayment of the $11.46 million of indebtedness currently outstanding under this facility, of which approximately $9.2 million is outstanding under the term loan and approximately $2.26 million is outstanding under the account purchase agreement, net of the $1.09 million held in reserve.

While Heartland Bank has not moved to enforce the acceleration of repayment of the Company's indebtedness at this time, it has suspended any obligation to advance additional funds for the purchase of receivables under the account purchase agreement. HII Technologies and Heartland Bank are engaged in discussions to address the default notices and underlying loans.

HII Technologies will provide an update as more information becomes available.

For more information, please refer to the Company's Current Report on Form 8-K filed with the Securities and Exchange Commission on the date hereof.

About HII Technologies, Inc.

HII Technologies, Inc. is a Houston, Texas based, oilfield services company focused on frac water management, including water transfer and produced water flowback services, in the Southwest United States. The Company also provides emerging water-related Clean Tech cost-saving solutions to the industry. Read more at www.HIITinc.com.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements as to matters that are not of historic fact are forward-looking statements. These forward-looking statements are based on HII Technology, Inc. ("HII")'s current expectations, estimates and projections about HII, its industry, its management's beliefs and certain assumptions made by management, and include statements regarding estimated capital expenditures, future operational and activity expectations, international growth, and anticipated financial performance in 2015. No assurance can be given that such expectations, estimates or projections will prove to have been correct. Whenever possible, these "forward-looking statements" are identified by words such as "expects," "believes," "anticipates" and similar phrases.

Readers are cautioned that any such forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict, including, but not limited to: risks that HII will be unable to achieve its financial, capital expenditure and operational projections, including quarterly and annual projections of revenue and/or operating income and risks that HII's expectations regarding future activity levels, customer demand, and pricing stability may not materialize (whether for HII as a whole or for geographic regions and/or business segments individually); risks that fundamentals in the U.S. oil and gas markets may not yield anticipated future growth in HII's businesses, or could further deteriorate or worsen from the recent market declines, and/or that HII could experience further unexpected declines in activity and demand for its hydraulic frac related water transfer business, its safety consultancy business or its generator and related equipment rental service businesses; risks relating to HII's ability to implement technological developments and enhancements; risks relating to compliance with environmental, health and safety laws and regulations, as well as actions by governmental and regulatory authorities; risks that HII may be unable to achieve the benefits expected from acquisition and disposition transactions, and risks associated with integration of the acquired operations into HII's operations; risks, in responding to changing or declining market conditions, that HII may not be able to reduce, and could even experience increases in, the costs of labor, fuel, equipment and supplies employed and used in HII's businesses; risks relating to changes in the demand for or the price of oil and natural gas; risks that HII may not be able to execute its capital expenditure program and/or that any such capital expenditure investments, if made, will not generate adequate returns; and other risks affecting HII's ability to maintain or improve operations, including its ability to maintain prices for services under market pricing pressures, weather risks, and the impact of potential increases in general and administrative expenses; risks that HII may not be able to meet its financial obligations including servicing or repayment of its debts and other operating expenses; risks that HII may not be able to reach an agreement with its primary lender with regard to the recent notice of default.

Because such statements involve risks and uncertainties, many of which are outside of HII's control, HII's actual results and performance may differ materially from the results expressed or implied by such forward-looking statements. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Other important risk factors that may affect HII's business, results of operations and financial position are discussed in its most recently filed Annual Report on Form 10-K, recent Quarterly Reports on Form 10-Q, recent Current Reports on Form 8-K and in other Securities and Exchange Commission filings. Unless otherwise required by law, HII also disclaims any obligation to update its view of any such risks or uncertainties or to announce publicly the result of any revisions to the forward-looking statements made here. However, readers should review carefully reports and documents that HII files periodically with the Securities and Exchange Commission.

Contact Information

Investor Relations Contact

Gary Russell
HII Technologies, Inc.
281-225-3384

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HII Technologies, Inc. to Host Corporate Update Call on Friday, June 12th http://ir.hiitinc.com/press-releases/detail/599/hii-technologies-inc-to-host-corporate-update-call-on-friday-june-12th Wed, 10 Jun 2015 08:00:00 -0400 http://ir.hiitinc.com/press-releases/detail/599/hii-technologies-inc-to-host-corporate-update-call-on-friday-june-12th HOUSTON, TX -- (Marketwired) -- 06/10/15 -- HII Technologies, Inc. (HIIT) ("HII Technologies" or the "Company") (OTCQB: HIIT), an oilfield service company focused in frac water management today announced that it will host a corporate update call on Friday, June 12, 2015. The Company's CEO, Matthew Flemming, and certain team members will host the call.

Date: Friday, June 12, 2015
Time: 11:30 AM Eastern Time
Conference Line (U.S.): 1-888-427-9419
International Dial-In: 1-719-325-2429
Conference ID: 7889776
Webcast: http://public.viavid.com/index.php?id=114947

Please dial in at least 10 minutes before the start of the call to ensure timely participation. A playback of the call will be available until 11:59 pm Eastern Time on July 12, 2015. To listen, call 1-877-870-5176 within the United States or 1-858-384-5517 when calling internationally. Please use the replay pin number 7889776.

About HII Technologies, Inc.

HII Technologies, Inc. is a Houston, Texas based oilfield services company focused on Total Frac Water Management with operations in Southwest United States. It has two supporting divisions in oilfield safety services and power management. By focusing on the critical service areas of Water, Safety and Power, the Company's bundled services approach has allowed them to become a cutting edge technology provider and cost saving solution to oilfield operators who are looking for ways to improve effectiveness in the current price environment. The Company's frac water management division does business as AES Water Solutions, AquaTex and Hamilton, its onsite oilfield contract safety consultancy does business as AES Safety Services and its mobile oilfield power subsidiary does business as Sage Power Solutions. HII Technologies' objective is to bring proven technologies to these operating divisions and to build a long-term competitive advantage for its stakeholders. Read more at www.HIITinc.com, www.AESWaterSolutions.com, www.AquaTexUSA.com, www.HamiltonFracWater.com, www.AESSafetyServices.com and www.Oilfield-Generators.com.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements as to matters that are not of historic fact are forward-looking statements. These forward-looking statements are based on HII's current expectations, estimates and projections about HII, its industry, its management's beliefs and certain assumptions made by management, and include statements regarding estimated capital expenditures, future operational and activity expectations, international growth, and anticipated financial performance in 2015. No assurance can be given that such expectations, estimates or projections will prove to have been correct. Whenever possible, these "forward-looking statements" are identified by words such as "expects," "believes," "anticipates" and similar phrases.

Readers are cautioned that any such forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict, including, but not limited to: risks that HII will be unable to achieve its financial, capital expenditure and operational projections, including quarterly and annual projections of revenue and/or operating income and risks that HII's expectations regarding future activity levels, customer demand, and pricing stability may not materialize (whether for HII as a whole or for geographic regions and/or business segments individually); risks that fundamentals in the U.S. oil and gas markets may not yield anticipated future growth in HII's businesses, or could further deteriorate or worsen from the recent market declines, and/or that HII could experience further unexpected declines in activity and demand for its hydraulic frac related water transfer business, its safety consultancy business or its generator and related equipment rental service businesses; risks relating to HII's ability to implement technological developments and enhancements; risks relating to compliance with environmental, health and safety laws and regulations, as well as actions by governmental and regulatory authorities; risks that HII may be unable to achieve the benefits expected from acquisition and disposition transactions, and risks associated with integration of the acquired operations into HII's operations; risks, in responding to changing or declining market conditions, that HII may not be able to reduce, and could even experience increases in, the costs of labor, fuel, equipment and supplies employed and used in HII's businesses; risks relating to changes in the demand for or the price of oil and natural gas; risks that HII may not be able to execute its capital expenditure program and/or that any such capital expenditure investments, if made, will not generate adequate returns; and other risks affecting HII's ability to maintain or improve operations, including its ability to maintain prices for services under market pricing pressures, weather risks, and the impact of potential increases in general and administrative expenses.

Because such statements involve risks and uncertainties, many of which are outside of HII's control, HII's actual results and performance may differ materially from the results expressed or implied by such forward-looking statements. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Other important risk factors that may affect HII's business, results of operations and financial position are discussed in its most recently filed Annual Report on Form 10-K, recent Quarterly Reports on Form 10-Q, recent Current Reports on Form 8-K and in other Securities and Exchange Commission filings. Unless otherwise required by law, HII also disclaims any obligation to update its view of any such risks or uncertainties or to announce publicly the result of any revisions to the forward-looking statements made here. However, readers should review carefully reports and documents that HII files periodically with the Securities and Exchange Commission.

Investor Relations Contact

Derek Gradwell
MZ Group
SVP, Natural Resources
Phone: 512-270-6990
Email: dgradwell@mzgroup.us
Web: www.mzgroup.us

Source: HII Technologies, Inc.

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HII Technologies, Inc. Reports First Quarter 2015 Financial Results http://ir.hiitinc.com/press-releases/detail/598/hii-technologies-inc-reports-first-quarter-2015-financial-results Wed, 20 May 2015 16:50:00 -0400 http://ir.hiitinc.com/press-releases/detail/598/hii-technologies-inc-reports-first-quarter-2015-financial-results HOUSTON, TX -- (Marketwired) -- 05/20/15 -- HII Technologies, Inc. (OTCQB: HIIT) ("HII Technologies" or the "Company"), an oilfield service company focused in frac water management with supporting divisions in oilfield power and safety services, today announced its financial results for the first quarter ended March 31, 2015.

First Quarter 2015 Highlights;

  • Revenues totaled approximately $8.5 million in Q1 2015, an increase of approximately 13.3% from $7.5 million in Q1 2014,
  • Operations during the quarter were challenged by inclement weather in February 2015 affecting total revenues and margins,
  • Gross Margins averaged 5.0% for Q1 2015
  • By offering new technologies, such as AES HydroFLOW™ non chemical bacteria kill, the Company acquired eight new customer wins adding new master service agreements in the quarter, and,
  • The Permian Basin continues to be the Company's most active area for commercialization of its new frac water technologies.

The Company's frac water management services division conducts business through its wholly-owned operating subsidiaries known as AES Water Solutions, AquaTex and Hamilton Water Transfer. The water division provides total frac water management solutions associated with the millions of gallons of water typically used during hydraulic fracturing and completions of horizontally drilled oil and gas wells. Frac water management services include water transfer to the frac site, non-chemical bacteria elimination and onsite testing, post-frac flow back and well test services, above-ground water storage tanks, and onsite frac water recycling and evaporation services. The Company believes offering compelling new technologies and bundling these services effectively reduces operator cost, minimizes transportation and waste water disposal well costs. AES Safety Services, the Company's oilfield safety consultancy division, provides experienced, trained safety personnel and contract safety engineers for E&P customers during oilfield operations from drilling to completion. Additional services provided under this division include training, inspection and environmental remediation. The Company's oilfield mobile power subsidiary does business as Sage Power Solutions and operates a fleet of mobile natural gas and diesel powered generators, light towers and related equipment for in-field power rental where remote locations provide little or no existing power infrastructure.

 
First Quarter 2015 Results  (ending March 31 st )
    Q1 2015   Q1 2014   CHANGE
Revenues   $8.5 million   $7.5 million   +13.3%
Gross Profit   $0.5 million   $2.0 million   -77.7%
Gross Margin   5.0%   27.2%   -80.3%
Income (loss) from Operations   $(2.25) million
  $0.13 million
  -1,769%
Adjusted EBITDA1   $(1.11) million   $0.53 million   -164%
Net Income (Loss)   $(3.13) million   $(0.02) million   -12,497%
             

1 A reconciliation table of the Adjusted EBITDA is provided below

First Quarter 2015

Revenues for the three months ended March 31, 2015 were $8.5 million, up 13.3% from $7.5 million in the comparable 2014 period. This increase in Q1 2015 over Q1 2014, was primarily attributable to the acquisition of Hamilton in mid-August 2014 and the growth in certain areas of our frac water management services division including our flow back services. Sequentially, revenues were down $2.6 million, or 23.6%, from the fourth quarter 2014 as all three divisions of Water, Safety and Power were impacted by the downturn pressures of our industry and oil prices with reduced activity levels with our service businesses.

The Company's gross profit and gross margin were $0.5 million and 5.0%, respectively, in the three months ended March 31, 2015 compared to $2.0 million and 27.2%, respectively, in the three months ended March 31, 2014.

Operating expenses were approximately $2.7 million, or approximately 31.8% of revenues, for the three months ended March 31, 2015 as compared to $1.9 million, or 25.3% of revenues in the comparable 2014 period. The Company generated an operating loss of $2.25 million in the three months ended March 31, 2015, compared to operating income of $0.13 million in the comparable 2014 period.

For the three months ended March 31, 2015, the Company had non-GAAP adjusted EBITDA of approximately $(1.11) million (EBITDA defined as earnings before interest, depreciation, amortization, non-cash stock option expenses, and one-time non-operational expense items). A reconciliation table of the adjusted EBITDA is provided below.

HII Technologies had approximately 57.3 million shares outstanding at March 31, 2015.

Balance Sheet and Liquidity

Cash and cash equivalents were $1.1 million (not including an additional $1.9 million in restricted cash) and total current assets were $13.3 million at March 31, 2015 compared to $14.0 million at December 31, 2014. Total assets decreased from $38.6 million at December 31, 2014 to $37.0 million at March 31, 2015. Total liabilities were $32.5 million and stockholders' equity was $4.5 million at March 31, 2015.

Net cash provided by operations increased to $0.56 million for the three months ended March 31, 2015 as compared to net cash used in operating activities of $0.68 million for the comparable 2014 period.

Updates from First Quarter 2015

As with most oilfield services providers, industry activity levels are highly correlated to the capital spending by oil and gas operators. The Q1 2015 well-publicized drop in oil prices created reductions in both activity levels and pricing for the industry. Although the impact has been severe on a national basis as indicated by oil and gas companies spending and rig counts, we believe we have benefited from the critical service profile of our business mix, the ability to bundle our services, applying new technologies that reduce operator costs as well as our focused geographic footprint in the southwest United States. These factors allowed for less of an impact on our operations than many other service companies.

As previously reported, in February 2015, several parts of our operations in Oklahoma and Texas experienced weather related challenges where ice and other issues temporarily disrupted the operations of our customers.

The Company swiftly reacted to the changing macro environment and instituted cost reductions in concert with reallocating our assets and crews to better align with our customers' changing objectives. Although each of the Company's Water, Safety and Power divisions experienced decreased revenues during the Q1 2015, the Company was able to mitigate some margin decline associated with the downturn pressures, as discussed below.

The Company's Water division experienced a decrease in revenue in Q1 2015 due to oilfield customers relocating drilling rigs and activity from certain areas of Oklahoma into other more economically attractive areas such as the Permian Basin and Delaware Basin. While we believe the Company acquired some of this work as it moved to West Texas, it resulted in lower interim utilization early in the quarter due to the operational transition. Additionally, the inclement weather in Texas and Oklahoma caused an estimated 14 days of work stoppage during February. These challenges were partially offset by significant growth in our flow back division in the first quarter particularly in West Texas with important new customers who currently maintain robust activity levels.

The Company's Safety division continued operating safety engineering service sites which include safety inspection, safety classroom training and certification programs in Ohio, West Virginia, and Texas. Although Q1 2015 revenues were slightly down sequentially compared to the Q4 2014, margins were mitigated by the pass-through of pricing pressures to the Company's employee and contractors' labor rates. The Safety division continues to view spill remediation services as a growth area of its business.

During Q1 2015, the Company's Power division revenues increased 42% compared to Q1 2014. Rebranded as Sage Power, the Company's power division executed a successful selling initiative to increase utilization with well-capitalized customers who could execute on a large, multi-site asset rental offering in exchange for appropriate pricing adjustments. The power division furthered its plan to provide turn-key power services company by expanding the scope of its services including diesel gap power applications, natural gas power, artificial lift, semi-permanent facilities power and grid installation and services.

"Offering new frac water related technologies that save customers money and drive efficiencies, cutting operational costs and bundling of our suite of services is the strategic approach the Company has taken to manage through this industry cycle", stated Matthew Flemming, CEO HII Technologies, Inc. He continued, "Our goal is to exit this cycle as a market share leader in the southwest United States using our cost-saving technologies to have a competitive advantage."

Operational Update

Managing the Industry down cycle

As previously reported, the Company has cut operating costs during the first quarter 2015, including, but not limited to, reductions in employee headcount in certain areas of Oklahoma and South Texas, reduced benefits and payroll rates, redeployment of appropriate employees, operating crews and assets to better optimize activity aligned with our customers' spend, and negotiated price concessions with vendors to improve operating efficiencies. These and other timely actions should be further realized in our operational performance into the Q2 2015.

Market pricing

As previously reported, the Company experienced pressure from customers to reduce prices mostly in the 10% to 20% range. In many cases, the Company has been able to pass through discounts to its equipment rental vendors and other direct costs. Our pricing benefits to some extent from the economically attractive basins and reservoirs that our Company serves in the Southwest US relative to higher operational cost areas. Additionally, the Company believes frac water management is not one of the larger costs in a typical completion or frac and has not been the primary focus of oilfield cost cutting targets in the Company's view.

Activity levels

Activity levels have been reduced throughout the United States in management's view and according to outside data such as the rig count reported by Baker Hughes. Within our geographic focus of the Southwest US, levels of activity have been maintained to a larger extent in the more economically attractive areas of Permian Basin, Delaware Basin of Texas. The Company has redeployed assets and crews accordingly. Currently, some of our customers in Oklahoma have moved their activity to parts of Texas. We believe we will continue to see reduced work levels in Oklahoma with select independents and domestic operators with less national acreage.

Although oil prices have appeared to recently recover from the commodity pricing lows in early Q1 2015, the outlook for oilfield services still remains somewhat cautious. The Company is observing that the customary rapid production decline rates associated with typical tight oil and unconventional shale reservoirs, combined with reduced drilling and rig counts, may lower total production and supply levels in the United States which in turn may support higher oil prices.

Acquiring market share

The Company continues to believe the demise of smaller owner/operator "mom and pop" companies and the apparent lack of meaningful technology with larger competitors will allow HII Technologies to pick up valuable market share in the frac water management market. Many smaller firms do not appear to be able to procure new equipment needed to adapt to customer requirements. Additionally, we continue to believe our customers are migrating to bundled service providers offering a full spectrum of services that can drive efficiencies and cost savings for oilfield operators and reduce vendor management costs.

New technologies commercialized

At the current reduced oil price levels, our customers indicate they are looking for cost saving ideas. The onsite rapid evaporation technology provides customers with the potential of reducing the expense and hassle of transporting the waste water. When needed, recycling onsite allows operators to re-use frac flow back water cheaper than the current alternative of hauling off water via trucking and disposal wells. Our AES HydroFLOW™ units, with a non-chemical technology for destroying bacteria in water to be used in fracing, have demonstrated the ability to generate savings for customers over current methods.

Customers who have observed the HydroFLOW™ demonstrations and the effectiveness of the technology have requested units for their operations. The Rapid-B technology has been introduced to complement the HydroFLOW units by analyzing the bacteria levels on site. The results can be realized within 15 minutes versus the customer shipping samples to third party laboratories which can take more than a week for results. Based on Rapid-B's immediate results, the customer can make the necessary adjustments to the frac water. These technologies offer cost savings to our customers.

Senior Credit Facility

We were not in compliance with certain financial covenants (fixed charge coverage ratio, tangible net worth and first lien leverage ratio) at December 31, 2014. In addition, we were not in compliance with the fixed charge coverage ratio, tangible net worth covenants, first lien leverage ratio and ratio of EBITDA to interest expense financial covenants at March 31, 2015. Effective May 20, 2015, we entered into a Third Modification and Waiver Agreement with Heartland Bank for each of the Credit Agreement and the Account Purchase Agreement dated August 12, 2014 (the "Third Amendments"), pursuant to which the Lenders waived certain existing defaults under the Credit Agreement, including a waiver of covenant compliance with respect to Fixed Charge Ratio, Tangible Net Worth Covenant and the First Lien Leverage for the periods ended December 31, 2014 and March 31, 2015 and with respect to the Ratio of EBITDA to Interest Expense for the period ended March 31, 2015. The Lenders under the Heartland facility waived default rate interest through March 31, 2015; and reset certain financial covenants under such facility for the remainder of 2015.

The Company plans to schedule an earnings and stockholder update call within the next few weeks which will be noticed by a press release.

Annual Meeting

HII Technologies' annual stockholders meeting is set for Monday, June 22, 2015 in Houston, Texas at 10 am CST. The Company has completed mailing a notice of meeting and proxy statement along with a copy of our annual report to all stockholders of record as of the record date April 28, 2015. A copy of the notice of meeting and proxy statement has been filed with the Securities and Exchange Commission. The Company will issue another press release at a later date with more details of this meeting.

About HII Technologies, Inc.

HII Technologies, Inc. is a Houston, Texas based oilfield services company focused on Total Frac Water Management with operations in Southwest United States. It has two supporting divisions in oilfield safety services and power management. By focusing on the critical service areas of Water, Safety and Power, the Company's bundled services approach has allowed them to become a cutting edge technology provider and cost saving solution to oilfield operators who are looking for ways to improve effectiveness in the current price environment. The Company's frac water management division does business as AES Water Solutions, AquaTex and Hamilton, its onsite oilfield contract safety consultancy does business as AES Safety Services and its mobile oilfield power subsidiary does business as Sage Power Solutions. HII Technologies' objective is to bring proven technologies to these operating divisions and to build a long-term competitive advantage for its stakeholders. Read more at www.HIITinc.com, www.AESWaterSolutions.com, www.AquaTexUSA.com, www.HamiltonFracWater.com, www.AESSafetyServices.com and www.Oilfield-Generators.com.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements as to matters that are not of historic fact are forward-looking statements. These forward-looking statements are based on HII's current expectations, estimates and projections about HII, its industry, its management's beliefs and certain assumptions made by management, and include statements regarding estimated capital expenditures, future operational and activity expectations, international growth, and anticipated financial performance in 2015. No assurance can be given that such expectations, estimates or projections will prove to have been correct. Whenever possible, these "forward-looking statements" are identified by words such as "expects," "believes," "anticipates" and similar phrases.

Readers are cautioned that any such forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict, including, but not limited to: risks that HII will be unable to achieve its financial, capital expenditure and operational projections, including quarterly and annual projections of revenue and/or operating income and risks that HII's expectations regarding future activity levels, customer demand, and pricing stability may not materialize (whether for HII as a whole or for geographic regions and/or business segments individually); risks that fundamentals in the U.S. oil and gas markets may not yield anticipated future growth in HII's businesses, or could further deteriorate or worsen from the recent market declines, and/or that HII could experience further unexpected declines in activity and demand for its hydraulic frac related water transfer business, its safety consultancy business or its generator and related equipment rental service businesses; risks relating to HII's ability to implement technological developments and enhancements; risks relating to compliance with environmental, health and safety laws and regulations, as well as actions by governmental and regulatory authorities; risks that HII may be unable to achieve the benefits expected from acquisition and disposition transactions, and risks associated with integration of the acquired operations into HII's operations; risks, in responding to changing or declining market conditions, that HII may not be able to reduce, and could even experience increases in, the costs of labor, fuel, equipment and supplies employed and used in HII's businesses; risks relating to changes in the demand for or the price of oil and natural gas; risks that HII may not be able to execute its capital expenditure program and/or that any such capital expenditure investments, if made, will not generate adequate returns; and other risks affecting HII's ability to maintain or improve operations, including its ability to maintain prices for services under market pricing pressures, weather risks, and the impact of potential increases in general and administrative expenses.

Because such statements involve risks and uncertainties, many of which are outside of HII's control, HII's actual results and performance may differ materially from the results expressed or implied by such forward-looking statements. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Other important risk factors that may affect HII's business, results of operations and financial position are discussed in its most recently filed Annual Report on Form 10-K, recent Quarterly Reports on Form 10-Q, recent Current Reports on Form 8-K and in other Securities and Exchange Commission filings. Unless otherwise required by law, HII also disclaims any obligation to update its view of any such risks or uncertainties or to announce publicly the result of any revisions to the forward-looking statements made here. However, readers should review carefully reports and documents that HII files periodically with the Securities and Exchange Commission.

1 Adjusted EBITDA Reconciliation Table
The following is a reconciliation of income from continuing operations attributable to the Company as presented in accordance with United States generally accepted accounting principles (GAAP) to adjusted EBITDA.

 
HII Technologies, Inc.
Adjusted EBITDA Reconciliation Table
For the quarter ended March 31, 2015
       
Net income (loss)   $ (3,130,602) 
Add back: Interest expense     765,832 
Taxes     103,321
Depreciation     780,589
Non-cash stock expense     270,108
Deferred finance costs amortization     12,712
Water recycling development / testing costs     16,124
One-time non-op items     68,673
EBITDA   $ (1,113,243)
       

Investor Relations Contact

Derek Gradwell
MZ Group
SVP, Natural Resources
Phone: 512-270-6990
Email: dgradwell@mzgroup.us
Web: www.mzgroup.us

Source: HII Technologies, Inc.

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HII Technologies, Inc. Announces $3.05 Million Private Placement With Institutional and Accredited Investors http://ir.hiitinc.com/press-releases/detail/597/hii-technologies-inc-announces-3-05-million-private-placement-with-institutional-and-accredited-investors Tue, 12 May 2015 18:02:00 -0400 http://ir.hiitinc.com/press-releases/detail/597/hii-technologies-inc-announces-3-05-million-private-placement-with-institutional-and-accredited-investors Amends Senior Credit Agreement to Resolve Technical Defaults

HOUSTON, TX -- (Marketwired) -- 05/12/15 -- HII Technologies, Inc. (OTCQB: HIIT) is pleased to announce that it has entered into definitive securities purchase agreements with institutional and accredited investors to purchase an aggregate of $3.05 million of its Series B Convertible Preferred Stock in a private placement at a price of $1,000 per share. Each share of Series B Convertible Preferred Stock is entitled to 12% annual cumulative dividends paid quarterly and is convertible into shares of our common stock at a conversion price of $0.40 per share. The investors will receive a warrant to purchase 1,250 shares of our common stock at an exercise price of $0.50 per share (i.e. 50% warrant coverage) for each share of Series B Convertible Preferred stock purchased.

The shares of Series B Convertible Preferred Stock and warrants described above have not been registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration with the SEC or an applicable exemption from such registration requirements. The securities were offered only to accredited investors. Pursuant to a registration rights agreement with the investors, we have agreed to file one or more registration statements with the SEC covering the resale of the shares of common stock issuable upon conversion of the Series B Preferred Convertible Stock and exercise of the warrants.

The offering is expected to close on or about May 13, 2015, subject to closing conditions, including entering into third amendment and waiver agreements with Heartland Bank, as Agent, which includes a waiver of the prior technical defaults, a waiver of the default rate interest and amended financial covenants.

ROTH Capital Partners acted as the sole placement agent for the offering.

About HII Technologies, Inc.

HII Technologies, Inc. is a Houston, Texas based oilfield services company focused on Total Frac Water Management with operations in the Southwest United States. It has two supporting divisions in oilfield power management and safety services. By focusing on the critical service areas of Water, Safety and Power, the Company's bundled services approach has allowed it to become a cutting edge technology provider and cost saving solution to oilfield operators who are looking for ways to improve efficiencies in the current price environment. The Company's frac water management division does business as AES Water Solutions, Hamilton and AquaTex, its onsite oilfield contract safety consultancy does business as AES Safety Services and its mobile oilfield power subsidiary does business as Sage Power Solutions, formerly South Texas Power (STP). HII Technologies' objective is to bring proven technologies to these operating divisions to build a long-term competitive advantage for its stakeholders. Read more at www.HIITinc.com,www.AESWaterSolutions.com, www.AquaTexUSA.com, www.HamiltonFracWater.com,www.AESSafetyServices.com and www.Oilfield-Generators.com.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements as to matters that are not of historic fact are forward-looking statements. These forward-looking statements are based on HII's current expectations, estimates and projections about HII, its industry, its management's beliefs and certain assumptions made by management, and include statements regarding estimated capital expenditures, future operational and activity expectations, international growth, and anticipated financial performance. No assurance can be given that such expectations, estimates or projections will prove to have been correct. Whenever possible, these "forward-looking statements" are identified by words such as "expects," "believes," "anticipates" and similar phrases.

Readers are cautioned that any such forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict, including, but not limited to: risks that HII will be unable to achieve its financial, capital expenditure and operational projections, including quarterly and annual projections of revenue and/or operating income and risks that HII's expectations regarding future activity levels, customer demand, and pricing stability may not materialize (whether for HII as a whole or for geographic regions and/or business segments individually); risks that fundamentals in the U.S. oil and gas markets may not yield anticipated future growth in HII's businesses, or could further deteriorate or worsen from the recent market declines, and/or that HII could experience further unexpected declines in activity and demand for its hydraulic frac related water transfer business, its safety consultancy business or its generator and related equipment rental service businesses; risks relating to HII's ability to implement technological developments and enhancements; risks relating to compliance with environmental, health and safety laws and regulations, as well as actions by governmental and regulatory authorities; risks that HII may be unable to achieve the benefits expected from acquisition and disposition transactions, and risks associated with integration of the acquired operations into HII's operations; risks, in responding to changing or declining market conditions, that HII may not be able to reduce, and could even experience increases in, the costs of labor, fuel, equipment and supplies employed and used in HII's businesses; risks relating to changes in the demand for or the price of oil and natural gas; risks that HII may not be able to execute its capital expenditure program and/or that any such capital expenditure investments, if made, will not generate adequate returns; and other risks affecting HII's ability to maintain or improve operations, including its ability to maintain prices for services under market pricing pressures, weather risks, and the impact of potential increases in general and administrative expenses.

Because such statements involve risks and uncertainties, many of which are outside of HII's control, HII's actual results and performance may differ materially from the results expressed or implied by such forward-looking statements. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Other important risk factors that may affect HII's business, results of operations and financial position are discussed in its most recently filed Annual Report on Form 10-K, recent Quarterly Reports on Form 10-Q, recent Current Reports on Form 8-K and in other Securities and Exchange Commission filings. Unless otherwise required by law, HII also disclaims any obligation to update its view of any such risks or uncertainties or to announce publicly the result of any revisions to the forward-looking statements made here. However, readers should review carefully reports and documents that HII files periodically with the Securities and Exchange Commission.

Investor Relations Contact

Derek Gradwell
MZ Group
SVP, Natural Resources
Phone: 512-270-6990
Email: dgradwell@mzgroup.us
Web: www.mzgroup.us

Source: HII Technologies, Inc.

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HII Technologies, Inc. Reports Fourth Quarter and Full Year 2014 Financial Results http://ir.hiitinc.com/press-releases/detail/596/hii-technologies-inc-reports-fourth-quarter-and-full-year-2014-financial-results Wed, 15 Apr 2015 18:09:00 -0400 http://ir.hiitinc.com/press-releases/detail/596/hii-technologies-inc-reports-fourth-quarter-and-full-year-2014-financial-results HOUSTON, TX -- (Marketwired) -- 04/15/15 -- HII Technologies, Inc. (HIIT) ("HII Technologies" or the "Company"), an oilfield service company focused in frac water management with supporting divisions in oilfield power and safety services, today announced its financial results for the fiscal year and fourth quarter ended December 31, 2014.

Fourth Quarter and Full-Year 2014 Highlights;

  • Pro-forma  2014 revenues and adjusted EBITDA 1  totaled $44.1 million and $6.0 million, respectively (giving effect of the  acquisition of Hamilton as of January 1, 2014)
  • Fourth quarter 2014 revenues were approximately  $11.1 million, an increase of approximately 131% from $4.8 million in the  fourth quarter of 2013, and sequential revenue growth of 11.0% from $10.0  million in the third quarter of 2014
  • Gross margins averaged 28.2% for the year and 28.0%  for the fourth quarter ended December 31, 2014, and approximately 30% for  the year pro forma
  • Experienced  significant traction in non-chemical bacteria kill AES HydroFLOW™ technology and Rapid-B™ on-site  test systems with new customers
  • Appointed  a Chief Financial Officer in December 2014.

The Company's frac water management services division conducts business through its wholly-owned operating subsidiaries known as AES Water Solutions, AquaTex and Hamilton Water Transfer. The water division provides total frac water management solutions associated with the millions of gallons of water typically used during hydraulic fracturing and completions of horizontally drilled oil and gas wells. Frac water management services include water transfer to the frac site, non-chemical bacteria elimination and onsite testing, post-frac flow back and well test services, above-ground water storage tanks, and onsite frac water recycling and evaporation services. The Company believes bundling these services effectively reduces operator cost and minimizes third-party trucking and waste water disposal well costs. AES Safety Services, the Company's oilfield safety consultancy division, provides experienced, trained safety personnel and contract safety engineers for E&P customers during oilfield operations from drilling to completion. Additional services provided under our Safety Services division include training, inspection and environmental remediation. The Company's oilfield mobile power subsidiary does business as Sage Power Solutions and operates a fleet of mobile natural gas and diesel powered generators, light towers and related equipment for in-field power rental where remote locations provide little or no existing power infrastructure. 

 

Fourth Quarter 2014 Results (ending December 31 st )
 
    Q4 2014   Q4 2013   CHANGE
Revenues   $11.1 million   $4.8 million   +131%
Gross Profit   $3.1 million   $1.3 million   +138%
Gross Margin   28.0%   26.9%   +4.0%
Income (loss) from Operations   $(2.78) million   $(0.39) million   +638%
Adjusted EBITDA1   $0.44 million   $0.09 million   +389%
Net Income (Loss)   $(6.6) million   $(0.5) million   -1,220%
             

1  A reconciliation table of the Adjusted EBITDA is provided below

Fourth Quarter 2014

Revenues for the three months ended December 31, 2014 were $11.1 million, up 131% from $4.8 million in the comparable 2013 period. This increase was primarily attributable to the acquisition of Hamilton in mid-August, 2014 and the continued growth in frac water management services within the Company's water division from AES Water Solutions and AquaTex (acquired in November 2013). Additionally, increased revenues came from organic growth in AES Safety Services, including its new spill remediation services. Organic growth was also realized in Sage Power Solutions' business of mobile oilfield power. All three divisions of Water, Safety and Power benefited from continued horizontal drilling and related hydraulic frac activity as essential services for oilfield.

The Company's gross profit and gross margin were $3.1 million and 28.0%, respectively, in the three months ended December 31, 2014 compared to $1.3 million and 26.9%, respectively, in the three months ended December 31, 2013.

Operating expenses were approximately $5.9 million, or approximately 53.2% of revenues, for the three months ended December 31, 2014 as compared to $1.7 million, or 34.9% of revenues in the comparable 2013 period. The Company generated an operating loss of $2.8 million in the three months ended December 31, 2014, which included a non-cash impairment charge for customer intangibles, a write-down of $2.3 million, compared to an operating loss of $0.39 million in the comparable 2013 period.

For the three months ended December 31, 2014, the Company had non-GAAP adjusted EBITDA of approximately $0.44 million (EBITDA defined as earnings before interest, depreciation, amortization, non-cash stock option expenses, and one-time non-operational expense items). A reconciliation table of the adjusted EBITDA is provided below.

 
Fiscal Year 2014 Results (ending December 31 st )
 
    FY 2014   FY 2013   CHANGE
Revenues   $35.4 million   $14.6 million   +142%
Gross Profit   $10.0 million   $3.8 million   +163%
Gross Margin   28.2%   26.2%   +8.0%
Income (loss) from Operations   ($2.9) million   $(0.6) million   -383%
Adjusted EBITDA1   $2.36 million   $0.5 million   +372%
Net Income (Loss)   ($2.4) million   $(1.2) million   -100%
             

Pro forma 2014 revenues and adjusted EBITDA would have been approximately $44.1 million and $6.0 million, respectively if the Company's acquisition of Hamilton occurred on January 1, 2014. 

Fiscal Year 2014

Revenues for fiscal 2014 were $35.4 million, up 142% from $14.5 million in the comparable 2013 period.

The Company's gross profit and gross margin improved for fiscal 2014 were $10.0 million and 28.2%, respectively, in compared to $3.8 million and 26.2%, respectively, in fiscal 2013. Operating expenses for fiscal 2014 were approximately $12.8 million, or 36.2% of revenues compared to $4.4 million, or 30.2% of revenues in fiscal 2013, the increase primarily attributable to newly added employee compensation expense, consulting fees, the cost of public reporting and holding company expenses, as well as the testing and development costs related to water recycling technologies. The Company recorded fiscal 2014 operating loss of $2.9 million in 2014 compared to an operating loss of $0.6 million in fiscal 2013, which included a non-cash impairment charge for customer intangibles, a write down of $2.34 million.

The Company had non-GAAP adjusted EBITDA of approximately $2.6 million in fiscal 2014 and $6.0 million pro forma adjusted EBITDA compared to $0.5 million adjusted EBITDA in 2013. A reconciliation table of the adjusted EBITDA is provided below. Net loss for fiscal 2014 was $2.4 million compared to a loss of $1.2 million in fiscal 2013.

HII Technologies had approximately 55.7 million shares outstanding at December 31, 2014.

Balance Sheet and Liquidity

Cash and cash equivalents were $1.3 million (not including an additional $1.7 million in restricted cash) and total current assets were $14.0 million at December 31, 2014 compared to $5.0 million at December 31, 2013. Total assets increased from $10.2 million at December 31, 2013 to $38.6 million at December 31, 2014. On August 12, 2014, the previous secured the line of credit was paid off using proceeds from the new senior credit facility discussed below. Total Liabilities were $31.2 million and Stockholders' Equity was $7.3 million at December 31, 2014.

Net cash used in operations increased to $2.5 million for the twelve months ended December 31, 2014 as compared to net cash used in operating activities of $0.89 million for the comparable 2013 period.

Updates from 2014

Each of the Company's Water, Safety and Power divisions experienced operational growth and increased revenues during 2014, as discussed below.

The Company's Water division experienced significant growth in 2014 due to an increased customer base, expansion into new territories with operational activities and growing its services offerings into cradle-to-grave frac water management. The August 2014 Hamilton acquisition also provided new customers and geographic expansion in Oklahoma. Total MSAs, or master service agreements, with customers by end of the year 2014 were 89, and grew by 51 during 2014.

The Company's Safety division continued operating safety engineering service sites that include safety inspection, safety classroom training and certification programs in Ohio, West Virginia, and Texas. AES Safety Services also developed its service offering of rapid spill response programs for site clean-up and remediation after environmental occurrences.  

During 2014, the Company's power division geographically expanded into new parts of Texas. Rebranded as Sage Power Solutions in early 2015, the power division grew into a turn-key power services company expanding the scope of its services including diesel gap power applications, natural gas power, artificial lift, semi-permanent facilities power and grid installation and services. 

"Fiscal 2014 demonstrated our capacity to grow organically with our critical services of Water, Safety and Power through our existing divisions and through accretive acquisitions evidenced by the Hamilton acquisition in August," stated Matthew Flemming, CEO of HII Technologies.

Operational Update

Managing the Industry down cycle

The Company has cut operating costs during the fourth quarter 2014 and the first quarter 2015, including , but not limited to, reductions in force employee headcount, benefits and payroll rates, redeployment of appropriate employees, operating crews and assets to better optimize activity aligned with our customers' spend, and negotiated price concessions with vendors to improve operating efficiencies.

Market pricing

The Company has experienced pressure from customers to reduce prices, in some isolated circumstances, in the 10% to 20% range. In most cases, the Company has been able to pass through discounts to its equipment rental vendors and direct costs to avoid margin declines. We do not believe we have seen the same level of compression as higher operational cost areas such as North Dakota. Additionally, the Company believes the larger frac costs of pressure pumping are more a target focus for operational savings than the less costly frac water management services we provide.

Activity levels

Activities levels have been reduced throughout the United States in management's view and according to outside data such as the rig count reported by Baker Hughes. Within our geographic focus of the Southwest US, levels of activity have been maintained better in the more economically attractive areas of Permian Basin, Delaware basin and other parts of Texas. Currently, some of our customers in Oklahoma have moved activity to parts of Texas and we believe we will continue to see moderate work levels in Oklahoma with select independents and other domestic operators. The essential service profile of our work has also helped us preserve activity compared to optional oilfield services.

During 2014, there were 51 new Master Services Agreements (MSA) added. As a result of these new MSAs, areas of activity expanded in Oklahoma and North Texas for our frac water management group. Some of these customers have also initiated new work in parts of New Mexico and Texas.

Acquiring market share

Due to the downturn in oil prices, many of the small "mom and pop" companies are not able to thrive and cannot afford to purchase the equipment customers require. In our Company's view, customers are migrating to bundled service providers offering a full spectrum of services who can drive efficiencies for oilfield operators and reduce vendor management costs. The Company's total water management system as a bundled package to a customer can lower the operating cost. Sage Power has expanded its services to include natural gas generation which can also be bundled as a package and demonstrated to lower operating costs for several oil companies in Texas. These efficiency drivers of our turn-key service offerings and the anticipated reduced competition from small, single service operators, and help develop our goal to be a market share leader in the Southwest United States as the industry recycle continues.

New technologies commercialized

At the current reduced oil price levels, our customers indicate they are looking for cost saving ideas. The onsite rapid evaporation technology allows customers to reduce the expense and hassle of hauling off waste water. When needed, recycling onsite allows operators to reuse frac flow back water cheaper than the current alternative of hauling off water via trucking and disposal wells. Our AES HydroFLOW™ units for destroying bacteria in water to be used in fracing have been demonstrated to generate savings for customers and has been well received. Customers who have observed demonstrations on the effectiveness of the technology have requested units for their operations. The Rapid-B technology has been introduced to complement the HydroFLOW units by analyzing the bacteria levels on site. The results can be realized within 15 minutes versus the customer shipping samples to third party laboratories. Based on the immediate results, the customer can make the necessary adjustments to the flow stream. These technologies offer cost savings to our customers.

February inclement weather

In February 2015, several parts of our operations in Oklahoma and Texas experienced weather related challenges where ice and other issues temporarily disrupted the operations of our customers.

Senior Credit Facility

We were not in compliance with certain financial covenants (fixed charge coverage ratio, tangible net worth and first lien leverage ratio) at December 31, 2014 and we have reason to believe that we may not be in compliance with certain covenants for the period ended March 31, 2015. As of the date hereof, we have not received any notice of acceleration from Heartland Bank. In addition, we are in active discussions with Heartland Bank for a waiver of such non-compliance for these periods and for certain technical defaults.

Conclusion

Mr. Flemming continued, "We have taken proactive cost containment steps to manage this industry cycle downturn and are very pleased in this environment our newer technology-oriented service offerings such as AES HydroFLOW™ have generated new opportunities for our Company with some of the larger oilfield customers in the US. We are working diligently to procure the appropriate waivers from our senior lender and look forward to concluding additional milestones to bring value to our stakeholders. Additionally, we intend to consider the appropriate acquisition opportunities that present themselves during this industry down turn with a goal to emerge as a leading and innovative oilfield services and solutions provider."

The Company anticipates releasing its first quarter 2015 revenue results with further corporate updates and 2015 revenue guidance by May 2015.

Investor Conference Call

The Company will host a webcast and conference call with investors at 10:00 am Eastern Time, 9:00am Central Time on Thursday, April 16, 2015. Chief Executive Officer, Matthew Flemming, Chief Financial Officer, Acie Palmer and President of AES Water Solutions, Brent Mulliniks will discuss the Company's milestones, growth strategy and financial position.

Date: Thursday, April 16, 2015
Time: 10:00 am ET / 9:00 am CT
Dial-in (US): 888-397-5352
Dial-in (Intl.): 719-457-2727
Conference ID: 8161572
Webcast: http://public.viavid.com/index.php?id=113841

A replay of the call will be available after 1 pm ET April 16th. To access the replay, use (877) 870-5176 for U.S. callers and (858) 384-5517 for international callers. The PIN number is 8161572.

About HII Technologies, Inc.

HII Technologies, Inc. is a Houston, Texas based Oilfield Services Company focused on Total Frac Water Management with operations in Southwest United States. It has two supporting divisions in oilfield safety services and power management. By focusing on the critical service areas of Water, Safety and Power, the Company's bundled services approach has allowed them to become a cutting edge technology provider and cost saving solution to oilfield operators who are looking for ways to improve effectiveness in the current price environment. The Company's frac water management division does business as AES Water Solutions, AquaTex and Hamilton , its onsite oilfield contract safety consultancy does business as AES Safety Services and its mobile oilfield power subsidiary does business as Sage Power Solutions, formerly South Texas Power (STP). HII Technologies' objective is to bring proven technologies to these operating divisions and to build a long-term competitive advantage for its stakeholders. Read more at www.HIITinc.com, www.AESWaterSolutions.comwww.AquaTexUSA.comwww.HamiltonFracWater.com, www.AESSafetyServices.com and www.Oilfield-Generators.com.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements as to matters that are not of historic fact are forward-looking statements. These forward-looking statements are based on HII's current expectations, estimates and projections about HII, its industry, its management's beliefs and certain assumptions made by management, and include statements regarding estimated capital expenditures, future operational and activity expectations, international growth, and anticipated financial performance in 2014. No assurance can be given that such expectations, estimates or projections will prove to have been correct. Whenever possible, these "forward-looking statements" are identified by words such as "expects," "believes," "anticipates" and similar phrases.

Readers are cautioned that any such forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict, including, but not limited to: risks that HII will be unable to achieve its financial, capital expenditure and operational projections, including quarterly and annual projections of revenue and/or operating income and risks that HII's expectations regarding future activity levels, customer demand, and pricing stability may not materialize (whether for HII as a whole or for geographic regions and/or business segments individually); risks that fundamentals in the U.S. oil and gas markets may not yield anticipated future growth in HII's businesses, or could further deteriorate or worsen from the recent market declines, and/or that HII could experience further unexpected declines in activity and demand for its hydraulic frac related water transfer business, its safety consultancy business or its generator and related equipment rental service businesses; risks relating to HII's ability to implement technological developments and enhancements; risks relating to compliance with environmental, health and safety laws and regulations, as well as actions by governmental and regulatory authorities; risks that HII may be unable to achieve the benefits expected from acquisition and disposition transactions, and risks associated with integration of the acquired operations into HII's operations; risks, in responding to changing or declining market conditions, that HII may not be able to reduce, and could even experience increases in, the costs of labor, fuel, equipment and supplies employed and used in HII's businesses; risks relating to changes in the demand for or the price of oil and natural gas; risks that HII may not be able to execute its capital expenditure program and/or that any such capital expenditure investments, if made, will not generate adequate returns; and other risks affecting HII's ability to maintain or improve operations, including its ability to maintain prices for services under market pricing pressures, weather risks, and the impact of potential increases in general and administrative expenses.

Because such statements involve risks and uncertainties, many of which are outside of HII's control, HII's actual results and performance may differ materially from the results expressed or implied by such forward-looking statements. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Other important risk factors that may affect HII's business, results of operations and financial position are discussed in its most recently filed Annual Report on Form 10-K, recent Quarterly Reports on Form 10-Q, recent Current Reports on Form 8-K and in other Securities and Exchange Commission filings. Unless otherwise required by law, HII also disclaims any obligation to update its view of any such risks or uncertainties or to announce publicly the result of any revisions to the forward-looking statements made here. However, readers should review carefully reports and documents that HII files periodically with the Securities and Exchange Commission.

Fourth Quarter 2014 Income Statement

The table below sets forth the summary Company's Statement of Operations, for the fourth quarter ended December 31, 2013;

   
Revenue $ 11,123,042
Cost of revenues   8,009,504
Gross margin   28.0%
Operating Expenses   5,845,846
Operating loss   (2,732,309)
Other expenses   (5,141,012)
Net loss $ (6,579,418)
     

2014 Pro Forma Combined Income Statement 

     
    Pro Forma
    Consolidated
     
Revenues   $44,120,806
Cost of revenues   30,670,316
     
  Gross profit   13,450,490
     
Operating expenses:    
  Selling, general and administrative   13,735,852
     
  Total operating expenses   13,735,852
     
Income (loss) from operations   (285,362)
     
Other income (expense)    
  Loss on debt conversion   (11,063)
  Interest expense, net   (5,021,035)
     
Loss before income taxes   (5,317,460)
     
Benefit for deferred income taxes   5,639,233
     
Net income   $321,774
Deemed dividend   (720,424)
Cumulative dividend   (101,342)
     
Net income attributable to common shareholders   $(499,993)
     

 

1 Adjusted EBITDA Reconciliation Table

The following is a reconciliation of income from continuing operations attributable to the Company as presented in accordance with United States generally accepted accounting principles (GAAP) to adjusted EBITDA.

   
HII Technologies, Inc.  
Adjusted EBITDA Reconciliation Table  
For the quarter and year ended December 31, 2014  
   
    Quarter     Year     Pro Forma  
                         
Net income (loss)   $ (6,579,418 )   $ (2,395,053 )   $ 321,774  
                         
Add back:                        
Interest expense     898,002       2,070,531       2,104,624  
Taxes     69,485       (5,414,370 )     (5,413,356 )
Depreciation*     3,402,325       4,309,827       5,161,170  
Non-cash stock expense     69,685       368,907       368,907  
Debt discount amortization     1,626,878       1,683,679       1,683,679  
Deferred finance costs amortization     867,570       1,085,272       1,085,272  
Water recycling development / testing costs     25,174       181,002       181,002  
One-time non-op items     60,500       471,236       471,236  
                         
EBITDA   $ 440,201     $ 2,361,031     $ 5,964,308  
                         

*Includes one-time, non-cash intangible customer impairment charge.

Investor Relations Contact

Derek Gradwell
SVP Natural Resources
MZ Group North America
Phone: 512-270-6990
Email: dgradwell@mzgroup.us
Web: www.mzgroup.us

Source: HII Technologies, Inc.

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HII Technologies Announces Participation in Upcoming Investor Conference http://ir.hiitinc.com/press-releases/detail/595/hii-technologies-announces-participation-in-upcoming-investor-conference Mon, 13 Apr 2015 08:00:00 -0400 http://ir.hiitinc.com/press-releases/detail/595/hii-technologies-announces-participation-in-upcoming-investor-conference HOUSTON, TX -- (Marketwired) -- 04/13/15 -- HII Technologies, Inc. (OTCQB: HIIT) ("HII Technologies" or the "Company"), an oilfield service company focused in frac water management with supporting divisions in oilfield power and safety services, today announced that management will present at the following upcoming investor conference.

IPAA OGIS New York
Date: Monday, April 20, 2015 at 2:25 PM ET
Location: The Sheraton Towers Time Square
New York, NY
Webcast: http://www.investorcalendar.com/IC/CEPage.asp?ID=173849

Conference participation is by invitation only and registration is mandatory. For more information or to schedule a one-on-one meeting, please contact MZ Group or the conference coordinator.

Please view HII Technologies' website, http://ir.hiitinc.com/ir-calendar for additional information and available webcast of the presentation.

About OGIS® New York

The IPAA Oil & Gas Investment Symposium New York (OGIS New York) is a hallmark on the industry calendar and an annual must destination for serious energy investors. There is a distinct advantage for investors participating at OGIS New York, as the unique and focused setting allows for benefits that go beyond the basic company presentation.

About HII Technologies, Inc.

HII Technologies, Inc. is a Houston, Texas based oilfield Services Company focused on Total Frac Water Management with operations in the Southwest United States. It has two supporting divisions in oilfield power management and safety services. By focusing on the critical service areas of Water, Safety and Power, the Company's bundled services approach has allowed them to become a cutting edge technology provider and cost saving solution to oilfield operators who are looking for ways to improve efficiencies in the current price environment. The Company's frac water management division does business as AES Water Solutions, Hamilton and AquaTex, its onsite oilfield contract safety consultancy does business as AES Safety Services and its mobile oilfield power subsidiary does business as Sage Power Solutions, formerly South Texas Power (STP). HII Technologies' objective is to bring proven technologies to these operating divisions to build a long-term competitive advantage for its stakeholders. Read more at www.HIITinc.comwww.AESWaterSolutions.comwww.AquaTexUSA.comwww.HamiltonFracWater.com, www.AESSafetyServices.com and www.Oilfield-Generators.com.

Investor Relations Contact

Derek Gradwell
SVP Natural Resources
MZ Group North America
Phone: 512-270-6990
Email: dgradwell@mzgroup.us
Web: www.mzgroup.us

Source: HII Technologies, Inc.

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HII Technologies to Host Fiscal 2014 Earnings Conference Call on April 16, 2015 http://ir.hiitinc.com/press-releases/detail/594/hii-technologies-to-host-fiscal-2014-earnings-conference-call-on-april-16-2015 Tue, 31 Mar 2015 16:05:00 -0400 http://ir.hiitinc.com/press-releases/detail/594/hii-technologies-to-host-fiscal-2014-earnings-conference-call-on-april-16-2015 Files Extension for FY 2014 10-K Filing

HOUSTON, TX -- (Marketwired) -- 03/31/15 -- HII Technologies, Inc. (OTCQB: HIIT) ("HII Technologies" or the "Company"), an oilfield service company focused in frac water management with supporting divisions in oilfield power and safety services, today announced that it will host a conference call at 11:00 am ET on Thursday, April 16, 2015 to discuss its financial results for the year ended December 31, 2014.

The Company's CEO Matthew Flemming, and CFO Acie Palmer will host the call. Brent Mulliniks, President of the Company's subsidiary AES Water Solutions subsidiary and a Company director, will also participate on behalf of the Company.

Date: April 16, 2015
Time: 10:00 AM Eastern Time
Conference Line (U.S.): 1-888-397-5352
International Dial-In: 1-719-457-2727
Conference ID: 8161572
Webcast: http://public.viavid.com/index.php?id=113841

Please dial in at least 10 minutes before the start of the call to ensure timely participation. A playback of the call will be available until 11:59 pm Eastern Time on May 16, 2015. To listen, call 1-877-870-5176 within the United States or 1-719-325-2458 when calling internationally. Please use the replay pin number 8161572.

The Company has filed a Form 12b-25 Notification of Late Filing with the Securities and Exchange Commission (SEC) to avail itself of the 15-day grace period for timely filing its 2014 Annual Report on Form 10-K, which is expected to be filed on or before April 15, 2015.

About HII Technologies, Inc.
HII Technologies, Inc. is a Houston, Texas based oilfield Services Company focused on Total Frac Water Management with operations in the Southwest United States. It has two supporting divisions in oilfield power management and safety services. By focusing on the critical service areas of Water, Safety and Power, the Company's bundled services approach has allowed them to become a cutting edge technology provider and cost saving solution to oilfield operators who are looking for ways to improve efficiencies in the current price environment. The Company's frac water management division does business as AES Water Solutions, Hamilton and AquaTex, its onsite oilfield contract safety consultancy does business as AES Safety Services and its mobile oilfield power subsidiary does business as Sage Power Solutions, formerly South Texas Power (STP). HII Technologies' objective is to bring proven technologies to these operating divisions to build a long-term competitive advantage for its stakeholders. Read more at www.HIITinc.comwww.AESWaterSolutions.comwww.AquaTexUSA.comwww.HamiltonFracWater.com, www.AESSafetyServices.com and www.Oilfield-Generators.com.

Investor Relations Contact

Derek Gradwell
SVP Natural Resources
MZ Group North America
Phone: 512-270-6990
Email: dgradwell@mzgroup.us
Web: www.mzgroup.us

Source: HII Technologies, Inc.

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HII Technologies, Inc. Announces Two New Customer Wins for Bacteria Testing and Removal http://ir.hiitinc.com/press-releases/detail/584/hii-technologies-inc-announces-two-new-customer-wins-for-bacteria-testing-and-removal Tue, 10 Mar 2015 09:58:00 -0400 http://ir.hiitinc.com/press-releases/detail/584/hii-technologies-inc-announces-two-new-customer-wins-for-bacteria-testing-and-removal HOUSTON, TX -- (Marketwired) -- 03/10/15 -- HII Technologies, Inc. (OTCQB: HIIT) ("HII Technologies" or the "Company"), an oilfield service company focused in frac water management with supporting divisions in oilfield power and safety services, today announced it has new agreements with two major E&P companies in West Texas to provide on-site testing and elimination of bacteria using the Company's AES HydroFLOW® and Rapid-B™ test technologies.

Bacteria introduced into a well causes a range of problems that may damage the producing formation, cause corrosion, and result in loss of production. The cost of treating Microbiologically Influenced Corrosion (MIC) is estimated to be hundreds of millions of dollars per year, and hundreds of thousands of dollars for a single well. The traditional approach for preventing bacteria build-up has been to use oxidants and biocides to treat bacteria in water prior to it going downhole for fracing. Previous testing techniques required operators to wait one to three weeks for results and by the time the sample results were produced, some bacteria have survived the biocide treatment and remained in the water. The Vivione Rapid-B™ system makes in-field bacteria testing available in real time so that quantitative data can be used to calculate dosing of biocides. The Rapid-B™ system in combination with AES HydroFLOW® successfully destroys up to 99% of bacteria in water without the use of chemicals resulting in cost savings for operators in the field.

A major E&P company with a market capitalization of over $50 billion hired AES Water Solutions to test for bacteria in water and frac fluids in West Texas in order to systematically identify potential points of bacterial contamination throughout all stages of the frac. AES dispatched a mobile bacteria testing lab and collected fluid samples at each key point in the process, including discrete samples of various size proppants and gels. The Rapid-B™ technology was able to provide living bacteria counts within 15 minutes of initiating the test, resulting in identification of several samples with high bacteria levels detected after the biocide treatment. Rapid-B™ identified quantitative values for living bacteria allowing time to apply additional treatment of biocides based on real-time data before the fluid entered the formation.

Another major E&P company with large drilling and completion programs in West Texas began using the AES HydroFLOW® to kill bacteria in fresh and produced water pits, which resulted in maintained lower bacteria levels in stored water without use of chemicals. AES Water Solutions attached HydroFLOW® devices on the exterior of pipelines used to recirculate water in large pits (~250,000 bbls) and ruptured the cells of bacteria in the water. When compared with periodic dosing of oxidants which were no longer present in the water after the initial reaction, the HydroFLOW® continuously treated the water with greater long term effectiveness at neutralizing bacteria, and at a significantly reduced cost per month. The customer engaged AES Water Solutions to operate HydroFLOW® units during water transfer to a hydraulic fracturing operation for on-the-fly bacteria treatment.

"We are pleased to announce these new customer wins with active oilfield operators for the testing and removal of bacteria using AES HydroFLOW® systems," said Brent Mulliniks, President of AES Water Solutions. "Both contracts are with new customers in our core operating region of West Texas. This progress provides further evidence of the demand for the commercialization of AES HydroFLOW® and Rapid-B™ systems. The additions of large new customers gives us confidence that we can expect growth in this segment in an environment where the single service providers are losing market share to full bundled service providers."

The HydroFLOW® system provides lower cost bacteria treatment than chemicals (up to 70% savings), and is supported by testing from the Vivione Rapid-B™ that validates HydroFLOW's® effectiveness. HydroFLOW® is able to not only reduce the cost for neutralizing bacteria, but also considerably reduces the footprint and traffic of treatment equipment. AES Water Solutions provides a cost-competitive combination of water transfer and bacteria neutralization that saves time, cost and significantly reduces the footprint of on-site equipment. 

About HII Technologies, Inc.
HII Technologies, Inc. is a Houston, Texas based oilfield Services Company focused on Total Frac Water Management with operations in the Southwest United States. It has two supporting divisions in oilfield power management and safety services. By focusing on the critical service areas of Water, Safety and Power, the Company's bundled services approach has allowed them to become a cutting edge technology provider and cost saving solution to oilfield operators who are looking for ways to improve efficiencies in the current price environment. The Company's frac water management division does business as AES Water Solutions, Hamilton and AquaTex, its onsite oilfield contract safety consultancy does business as AES Safety Services and its mobile oilfield power subsidiary does business as Sage Power Solutions, formerly South Texas Power (STP). HII Technologies' objective is to bring proven technologies to these operating divisions to build a long-term competitive advantage for its stakeholders. Read more at www.HIITinc.com, www.AESWaterSolutions.comwww.AquaTexUSA.comwww.HamiltonFracWater.com, www.AESSafetyServices.com and www.Oilfield-Generators.com.

Embedded Video Available: https://vimeo.com/110159146

Investor Relations Contact

Derek Gradwell
SVP Natural Resources
MZ Group North America
Phone: 512-270-6990
Email: dgradwell@mzgroup.us
Web: www.mzgroup.us

Source: HII Technologies, Inc.

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HII Technologies, Inc. to Present at the 27th Annual Roth Conference on March 10, 2015 http://ir.hiitinc.com/press-releases/detail/574/hii-technologies-inc-to-present-at-the-27th-annual-roth-conference-on-march-10-2015 Thu, 26 Feb 2015 08:00:00 -0500 http://ir.hiitinc.com/press-releases/detail/574/hii-technologies-inc-to-present-at-the-27th-annual-roth-conference-on-march-10-2015 HOUSTON, TX -- (Marketwired) -- 02/26/15 -- HII Technologies, Inc. (OTCQB: HIIT) ("HII Technologies" or the "Company"), an oilfield service company focused in frac water management with supporting divisions in oilfield power and safety services today announced that management will present at the upcoming 27th Annual Roth investor conference.

27th Annual Roth Conference

Date: March 10, 2015

Time: 9:00 am PT

Location:
The Ritz Carlton 
Dana Point, CA

Webcast: http://wsw.com/webcast/roth29/hiit

About HII Technologies, Inc.Attendance at the conference is by invitation only and interested investors should contact the conference organizers at ROTH Capital. For more information about the conference or to schedule a meeting with Victory management, please contact your ROTH representative.

HII Technologies, Inc. is a Houston, Texas based oilfield Services Company focused on Total Frac Water Management with operations in the Southwest United States. It has two supporting divisions in oilfield power management and safety services. By focusing on the critical service areas of Water, Safety and Power, the Company's bundled services approach has allowed them to become a cutting edge technology provider and cost saving solution to oilfield operators who are looking for ways to improve efficiencies in the current price environment. The Company's frac water management division does business as AES Water Solutions, Hamilton and AquaTex, its onsite oilfield contract safety consultancy does business as AES Safety Services and its mobile oilfield power subsidiary does business as Sage Power Solutions, formerly South Texas Power (STP). HII Technologies' objective is to bring proven technologies to these operating divisions to build a long-term competitive advantage for its stakeholders. Read more at www.HIITinc.com, www.AESWaterSolutions.com, www.AquaTexUSA.com, www.HamiltonFracWater.com, www.AESSafetyServices.com and www.Oilfield-Generators.com.

Investor Relations Contact

Derek Gradwell
SVP Natural Resources
MZ Group North America
Phone: 512-270-6990
Email: dgradwell@mzgroup.us
Web: www.mzgroup.us

Source: HII Technologies, Inc.

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HII Technologies, Inc. Announces New Name and Rebranding of Its Power Division Subsidiary to "Sage Power Solutions" http://ir.hiitinc.com/press-releases/detail/564/hii-technologies-inc-announces-new-name-and-rebranding-of-its-power-division-subsidiary-to-sage-power-solutions Tue, 24 Feb 2015 08:00:00 -0500 http://ir.hiitinc.com/press-releases/detail/564/hii-technologies-inc-announces-new-name-and-rebranding-of-its-power-division-subsidiary-to-sage-power-solutions Adds Services, Territory Expansion and New Customer Agreements

HOUSTON, TX -- (Marketwired) -- 02/24/15 -- HII Technologies, Inc. (OTCQB: HIIT) ("HII Technologies" or the "Company"), an oilfield service company focused in frac water management with supporting divisions in oilfield power and safety services today announced it is renaming its Power division subsidiary known as KMHVC, Inc. dba South Texas Power (STP) to "Sage Power Solutions, Inc." as part of a rebranding initiative for the Company's Power division. The rebranding and renaming of the subsidiary will take effect within the next thirty days and is in connection with the Power division's geographic expansion into other parts of Texas and Oklahoma and its service offering expansion to now include Oilfield Power Management Solutions.

"The Company's Power division is growing into a Southwest United States based power management company," stated Chad Crady its President. "Since its launch as South Texas Power (STP), the Company's Power division initially focused in the South Texas Eagle Ford Shale market providing diesel 'gap power' applications used by oil operators in remote locations typically where no power grid is available. Today, it has grown both geographically and in its service offering due to its customers' requirements for expanded scope of Power services including natural gas power, artificial lift, semi-permanent facilities power and grid installation and services." Mr. Crady continued, "Renaming the Company's Power division to 'Sage Power Solutions' emphasizes its growth and ability to work at a corporate level with its customers as a full-service oilfield power management solutions provider."

The Company's Power division also announced today a new contract to provide ten new natural gas generators for rental and service for a large oilfield operator in the Eagle Ford Shale area in a semi-permanent artificial lift application, saving the customer an estimated $85 thousand a month in operating costs just on those units compared to the previous approach.

"We are pleased to announce the transition to higher value services for oilfield operators. Adding natural gas power, contract electrical services and grid installation through our own fleet and via strategic corporate partnerships has been well received by our oilfield customers. In our experience today, oil companies want a one-stop-shop for their power needs and we believe that our Power division now offers a comprehensive suite of services allowing it to function as a single source Power provider for oilfield operators," said Matt Flemming, CEO of HII Technologies. "We believe the future is promising for the Company's Power division and currently anticipate other milestones within fiscal year 2015."

About HII Technologies, Inc.

HII Technologies, Inc. is a Houston, Texas based oilfield services company focused in Total Frac Water Management with operations in the southwest United States. It has two supporting divisions in oilfield power management and safety services. By focusing on the critical service areas of Water, Safety and Power, the Company is positioned to take advantage of the activity in horizontal drilling and hydraulic fracturing within the United States' active shale and unconventional "tight oil" plays. The Company's frac water management division does business as AES Water Solutions, Hamilton and AquaTex, its oilfield safety services division does business as AES Safety Services, and its oilfield power subsidiary is rebranding previously South Texas Power (STP) to Sage Power Solutions. The holding company, HII Technologies' objective is to bring proven technologies to these operating divisions to build a long-term competitive advantage for its stakeholders. Read more at www.HIITinc.comwww.AESWaterSolutions.comwww.AquaTexUSA.com, www.HamiltonFracWater.comwww.AESSafetyServices.com and www.Oilfield-Generators.com.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements as to matters that are not of historic fact are forward-looking statements. These forward-looking statements are based on HII's current expectations, estimates and projections about HII, its industry, its management's beliefs and certain assumptions made by management, and include statements regarding estimated capital expenditures, future operational and activity expectations, international growth, and anticipated financial performance in 2015. No assurance can be given that such expectations, estimates or projections will prove to have been correct. Whenever possible, these "forward-looking statements" are identified by words such as "expects," "believes," "anticipates" and similar phrases.

Readers are cautioned that any such forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict, including, but not limited to: risks that HII will be unable to achieve its financial, capital expenditure and operational projections, including quarterly and annual projections of revenue and/or operating income and risks that HII's expectations regarding future activity levels, customer demand, and pricing stability may not materialize (whether for HII as a whole or for geographic regions and/or business segments individually); risks that fundamentals in the U.S. oil and gas markets may not yield anticipated future growth in HII's businesses, or could further deteriorate or worsen from the recent market declines, and/or that HII could experience further unexpected declines in activity and demand for its hydraulic frac related water transfer business, its safety consultancy business or its generator and related equipment rental service businesses; risks relating to HII's ability to implement technological developments and enhancements; risks relating to compliance with environmental, health and safety laws and regulations, as well as actions by governmental and regulatory authorities; risks that HII may be unable to achieve the benefits expected from acquisition and disposition transactions, and risks associated with integration of the acquired operations into HII's operations; risks, in responding to changing or declining market conditions, that HII may not be able to reduce, and could even experience increases in, the costs of labor, fuel, equipment and supplies employed and used in HII's businesses; risks relating to changes in the demand for or the price of oil and natural gas; risks that HII may not be able to execute its capital expenditure program and/or that any such capital expenditure investments, if made, will not generate adequate returns; and other risks affecting HII's ability to maintain or improve operations, including its ability to maintain prices for services under market pricing pressures, weather risks, and the impact of potential increases in general and administrative expenses.

Because such statements involve risks and uncertainties, many of which are outside of HII's control, HII's actual results and performance may differ materially from the results expressed or implied by such forward-looking statements. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Other important risk factors that may affect HII's business, results of operations and financial position are discussed in its most recently filed Annual Report on Form 10-K, recent Quarterly Reports on Form 10-Q, recent Current Reports on Form 8-K and in other Securities and Exchange Commission filings. Unless otherwise required by law, HII also disclaims any obligation to update its view of any such risks or uncertainties or to announce publicly the result of any revisions to the forward-looking statements made here. However, readers should review carefully reports and documents that HII files periodically with the Securities and Exchange Commission.

Investor Relations Contact

Derek Gradwell
MZ Group
SVP, Natural Resources
Phone: 512-270-6990
Email: dgradwell@mzgroup.us
Web: www.mzgroup.us

Source: HII Technologies, Inc.

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HII Technologies, Inc. Announces Preliminary Revenues for Fiscal 2014 and Provides Operational Update http://ir.hiitinc.com/press-releases/detail/554/hii-technologies-inc-announces-preliminary-revenues-for-fiscal-2014-and-provides-operational-update Thu, 29 Jan 2015 08:00:00 -0500 http://ir.hiitinc.com/press-releases/detail/554/hii-technologies-inc-announces-preliminary-revenues-for-fiscal-2014-and-provides-operational-update Fiscal 2014 Revenues Increase Over 140% (and Over 200% on a Pro Forma Basis) From Fiscal 2013

HOUSTON, TX -- (Marketwired) -- 01/29/15 -- HII Technologies, Inc. (OTCQB: HIIT) ("HII Technologies" or the "Company"), an oilfield service company focused in frac water management, oilfield power and safety services, headquartered in Houston, Texas, today announced its preliminary unaudited results for consolidated revenues from operations for the fourth quarter 2014 and fiscal 2014 approximated $11.0 million and $35.3 million, respectively.

On a combined pro forma basis, the Company's revenues for fiscal 2014 was approximately $44.5 million. These pro forma results give effect to the Company's acquisition of Hamilton Investment Group ("Hamilton"), a frac water management company, as of January 1, 2014, while it actually closed on August 12, 2014. The Company's revenues exceeded the published analyst expectation for the fourth quarter 2014. The Company was expecting pro forma fiscal 2014 guidance of at least $50 million.

"Fiscal 2014 was a very good year for the Company. We increased our market share, revenues and gross margins during the year, diversified our frac water management services to include new technologies, and secured additional master service agreements (MSAs) with major E&P customers. The Company's revenues in fiscal 2014 increased to $35.3 million (and $44.5 million on a pro forma basis) from $14.6 million, or approximately 140% (and approximately 200% on a pro forma basis) for fiscal 2013," stated Matt Flemming, CEO of HII Technologies.

"Our 2014 revenue growth resulted from a combination of factors including strong sales from all three of our divisions, the introduction of additional frac water management service offerings, such as Flow Back services, and our acquisition of Hamilton in August 2014. Difficult weather conditions during December 2014, slower than anticipated implementation of safety spill response programs, and delays in natural gas power orders were all contributing factors in our challenge in achieving our previously announced fiscal 2014 pro forma revenue guidance of at least $50 million. Notwithstanding some of the operating challenges last year, we exited 2014 with a $50 million revenue run rate and significant new business activity with six new MSAs in the fourth quarter. We currently see continued growth and market share gains in the 2015 fiscal year," concluded Flemming. 

Operational Update: Opportunistic Positioning and Operational Flexibility

"Looking at the recent decline in commodity prices in the last few months, the current bearish view on the oil & gas industry is understandable. In response to these concerns, we have taken proactive steps for cost containment and operational flexibility. These steps include reductions in total employees (about 10%) and salaries in areas where activity has moved or slowed. We expect these measures to reduce annual operating expenses by approximately $450,000. We also realized operating savings from vendor responses from requests for price discounts with rental items, and operational efficiencies and lower labor costs in our water transfer business via utilization of more efficient equipment," stated Acie Palmer, HII Technologies' CFO.

"The decline in the national rig count has not significantly impacted our localized geographic markets and the demand for oilfield services including the critical service of frac water management. Additionally, according to Baker-Hughes, the U.S. Rig Count is higher today than January 2014 for rigs within the Permian Basin which supports management's belief that we are well positioned in economically attractive basins within the domestic United States. The current volatility, while challenging, has had limited current impact on our daily business," added Mr. Palmer.

"We believe that the current pricing environment for the Company's customers could serve to accelerate the commercialization of our new cost-efficient designed service offerings, such as AES HydroFLOW™," said Brent Mulliniks, President of the Water division of HII Technologies. "In our opinion, our new frac water management service offerings provide key differentiators for our customers and, in turn, should develop further our competitive advantage."

The Company will continue to evaluate potentially accretive acquisitions and the current decline in oil prices could, in management's opinion, result in attractive prices for such opportunities in an effort to rapidly build our market share.

HII Technologies is optimistic for 2015 and will continue to seek ways to leverage its current operations and expertise to maximize shareholder value. The Company anticipates releasing its full 2014 financial results in connection with filing its Annual Report on Form 10-K in March, 2015.

About HII Technologies, Inc.

HII Technologies, Inc. is a Houston, Texas based oilfield services company with operations in Texas, Oklahoma, Ohio and West Virginia. By focusing on the critical service areas of Water, Safety and Power, the Company is positioned to take advantage of the activity in horizontal drilling and hydraulic fracturing within the United States' active shale and unconventional "tight oil" plays. The Company's frac water management division does business as AES Water Solutions, Hamilton and AquaTex, its onsite oilfield contract safety consultancy does business as AES Safety Services, and its mobile oilfield power subsidiary does business as South Texas Power (STP). The holding company, HII Technologies' objective is to bring proven technologies to these operating divisions to build a long-term competitive advantage for its stakeholders. Read more at www.HIITinc.comwww.AESWaterSolutions.comwww.AquaTexUSA.com, www.HamiltonFracWater.comwww.AESSafetyServices.com and www.Oilfield-Generators.com.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements as to matters that are not of historic fact are forward-looking statements. These forward-looking statements are based on HII's current expectations, estimates and projections about HII, its industry, its management's beliefs and certain assumptions made by management, and include statements regarding estimated capital expenditures, future operational and activity expectations, international growth, and anticipated financial performance in 2015. No assurance can be given that such expectations, estimates or projections will prove to have been correct. Whenever possible, these "forward-looking statements" are identified by words such as "expects," "believes," "anticipates" and similar phrases.

Readers are cautioned that any such forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict, including, but not limited to: risks that HII will be unable to achieve its financial, capital expenditure and operational projections, including quarterly and annual projections of revenue and/or operating income and risks that HII's expectations regarding future activity levels, customer demand, and pricing stability may not materialize (whether for HII as a whole or for geographic regions and/or business segments individually); risks that fundamentals in the U.S. oil and gas markets may not yield anticipated future growth in HII's businesses, or could further deteriorate or worsen from the recent market declines, and/or that HII could experience further unexpected declines in activity and demand for its hydraulic frac related water transfer business, its safety consultancy business or its generator and related equipment rental service businesses; risks relating to HII's ability to implement technological developments and enhancements; risks relating to compliance with environmental, health and safety laws and regulations, as well as actions by governmental and regulatory authorities; risks that HII may be unable to achieve the benefits expected from acquisition and disposition transactions, and risks associated with integration of the acquired operations into HII's operations; risks, in responding to changing or declining market conditions, that HII may not be able to reduce, and could even experience increases in, the costs of labor, fuel, equipment and supplies employed and used in HII's businesses; risks relating to changes in the demand for or the price of oil and natural gas; risks that HII may not be able to execute its capital expenditure program and/or that any such capital expenditure investments, if made, will not generate adequate returns; and other risks affecting HII's ability to maintain or improve operations, including its ability to maintain prices for services under market pricing pressures, weather risks, and the impact of potential increases in general and administrative expenses.

Because such statements involve risks and uncertainties, many of which are outside of HII's control, HII's actual results and performance may differ materially from the results expressed or implied by such forward-looking statements. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Other important risk factors that may affect HII's business, results of operations and financial position are discussed in its most recently filed Annual Report on Form 10-K, recent Quarterly Reports on Form 10-Q, recent Current Reports on Form 8-K and in other Securities and Exchange Commission filings. Unless otherwise required by law, HII also disclaims any obligation to update its view of any such risks or uncertainties or to announce publicly the result of any revisions to the forward-looking statements made here. However, readers should review carefully reports and documents that HII files periodically with the Securities and Exchange Commission.

Investor Relations Contact

Derek Gradwell
MZ Group
SVP, Natural Resources
Phone: 512-270-6990
Email: dgradwell@mzgroup.us
Web: www.mzgroup.us

Source: HII Technologies, Inc.

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HII Technologies Announces Exclusive Agreement and Commercialization of Hydropath Technology for Oilfield Bacteria Deactivation and Removal http://ir.hiitinc.com/press-releases/detail/544/hii-technologies-announces-exclusive-agreement-and-commercialization-of-hydropath-technology-for-oilfield-bacteria-deactivation-and-removal Wed, 28 Jan 2015 08:00:00 -0500 http://ir.hiitinc.com/press-releases/detail/544/hii-technologies-announces-exclusive-agreement-and-commercialization-of-hydropath-technology-for-oilfield-bacteria-deactivation-and-removal HOUSTON, TX -- (Marketwired) -- 01/28/15 -- HII Technologies, Inc. (OTCQB: HIIT) ("HII Technologies" or the "Company"), an oilfield service company focused in frac water management headquartered in Houston, Texas, today announced an exclusive agreement with HydroFLOW® Holdings USA, LLC. Under this agreement, the Company receives the exclusive right provide bacteria deactivation and removal services to the Oil & Gas frac water industry using the patented Hydropath technology which powers the HydroFLOW® water treatment devices. The agreement covers the entire domestic United States for at least ten years and its exclusivity provisions are subject to customary purchase minimums per year.

Marketed as AES HydroFLOW®, the Company has launched this new bacteria deactivation service for treating frac water "on-the-fly" to the frac during water transfer. It also is available for flow back, frac pit circulation and recycling applications where water is to be used in completions. HydroFLOW® has been proven to reduce up to 99% of bacteria in water prior to use downhole in oilfield fracing at costs that are 50% to 80% cheaper than current industry approaches of biocide and chemical treatments to water. According to the National Association of Corrosion Engineers (NACE), estimates of total costs attributed to all types of corrosion are upwards of $200 billion. Microbiologically Influenced Corrosion (MIC) is estimated to account for as much as 40-50% of all internal corrosion. AES HydroFLOW® eliminates sulfate reducing and acid reducing (SRB and ARB) bacteria, which account for corrosion downhole.

The patented technology is utilized by attaching the AES HydroFLOW® unit to the outside of water transfer pipe or hose of any customary diameter size. The AES HydroFLOW® units induce a safe electric signal of ±150kHz into any size water pipe on which they are installed (metal or PVC). This charge forms a hydration layer of pure water around the cell. Osmosis forces water into the bacteria and/or algae, creating osmotic pressure, which ruptures the cell membrane and causes the cell to die. In addition, the electric signal flowing through the metal pipe agitates existing bacteria colonies and causes them to gradually release. AES HydroFLOW® operates continuously treating water in pits or during in-bound transfer to the frac for a fraction of the cost of chemical biocides, while maintaining constant treatment rather than the additional costs and inefficiencies associated with periodic doses. The Company believes this new approach is a major industry advance as a cost-effective method for reducing bacteria in frac water pipelines, ponds, and tanks at high flow rates.

The ability to validate bacteria destruction is important to customer acceptance. Via another partnership, the Company can now offer a proprietary onsite test to determine whether bacteria have been reduced or removed. The proprietary Rapid-B™ mobile bacteria analyzer, unrelated to HydroFLOW®, allows for immediate onsite verification of the total bacteria count in the water. Bacteria counts are analyzed with this Rapid-B™ test in-field within 15 minutes rather than today's current practice of shipping samples to laboratories and waiting days for results. This agility allows for validation of bacteria counts prior to the water being used in the frac. HII Technologies is the only company that offers these services in the US and believes it has a 'first mover' advantage in oilfield services to utilize onsite rapid bacteria testing technology to validate the effectiveness of the HydroFLOW® device in real-time. 

Brent Mulliniks, President of AES Water Solutions commented, "We have tested the effectiveness of the Hydropath technology in the latter half of 2014 with select customers with encouraging results and cost reductions giving our customers the opportunity to avoid expensive biocide treatments. During this apparent industry downturn with oil prices, reducing costs and gaining efficiencies are important to our customers. We believe that the AES HydroFLOW® is a breakthrough for operating costs savings while providing sustainable chemical-free water treatment that the industry is seeking." Mr. Mulliniks continued, "This patent protected technology improves sustainable water use and adds to our comprehensive suite of frac water management solutions. The Rapid-B™ testing technology sourced from another partnership gives onsite analytics for customers to immediately understand the impact of this new service offering."

The Company currently charges day rate and monthly service contract agreements for AES HydroFLOW® and per diem/per test charges for its onsite rapid bacteria testing services.

About HII Technologies, Inc.

HII Technologies, Inc. is a Houston, Texas based oilfield services company with operations in Texas, Oklahoma, Ohio and West Virginia. By focusing on the critical service areas of Water, Safety and Power, the Company is positioned to take advantage of the changing environment in horizontal drilling and hydraulic fracturing within the United States' active shale and unconventional "tight oil" plays. The Company's frac water management division does business as AES Water Solutions, Hamilton and AquaTex, its onsite oilfield contract safety consultancy does business as AES Safety Services, and its mobile oilfield power subsidiary does business as South Texas Power (STP). The holding company, HII Technologies' objective is to bring proven technologies to these operating divisions to build a long-term competitive advantage for its stakeholders. Read more at www.HIITinc.comwww.AESWaterSolutions.comwww.AquaTexUSA.comwww.HamiltonFracWater.comwww.AESSafetyServices.com and www.Oilfield-Generators.com.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements as to matters that are not of historic fact are forward-looking statements. These forward-looking statements are based on HII's current expectations, estimates and projections about HII, its industry, its management's beliefs and certain assumptions made by management, and include statements regarding estimated capital expenditures, future operational and activity expectations, international growth, and anticipated financial performance in 2015. No assurance can be given that such expectations, estimates or projections will prove to have been correct. Whenever possible, these "forward-looking statements" are identified by words such as "expects," "believes," "anticipates" and similar phrases.

Readers are cautioned that any such forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict, including, but not limited to: risks that HII will be unable to achieve its financial, capital expenditure and operational projections, including quarterly and annual projections of revenue and/or operating income and risks that HII's expectations regarding future activity levels, customer demand, and pricing stability may not materialize (whether for HII as a whole or for geographic regions and/or business segments individually); risks that fundamentals in the U.S. oil and gas markets may not yield anticipated future growth in HII's businesses, or could further deteriorate or worsen from the recent market declines, and/or that HII could experience further unexpected declines in activity and demand for its hydraulic frac related water transfer business, its safety consultancy business or its generator and related equipment rental service businesses; risks relating to HII's ability to implement technological developments and enhancements; risks relating to compliance with environmental, health and safety laws and regulations, as well as actions by governmental and regulatory authorities; risks that HII may be unable to achieve the benefits expected from acquisition and disposition transactions, and risks associated with integration of the acquired operations into HII's operations; risks, in responding to changing or declining market conditions, that HII may not be able to reduce, and could even experience increases in, the costs of labor, fuel, equipment and supplies employed and used in HII's businesses; risks relating to changes in the demand for or the price of oil and natural gas; risks that HII may not be able to execute its capital expenditure program and/or that any such capital expenditure investments, if made, will not generate adequate returns; and other risks affecting HII's ability to maintain or improve operations, including its ability to maintain prices for services under market pricing pressures, weather risks, and the impact of potential increases in general and administrative expenses.

Because such statements involve risks and uncertainties, many of which are outside of HII's control, HII's actual results and performance may differ materially from the results expressed or implied by such forward-looking statements. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Other important risk factors that may affect HII's business, results of operations and financial position are discussed in its most recently filed Annual Report on Form 10-K, recent Quarterly Reports on Form 10-Q, recent Current Reports on Form 8-K and in other Securities and Exchange Commission filings. Unless otherwise required by law, HII also disclaims any obligation to update its view of any such risks or uncertainties or to announce publicly the result of any revisions to the forward-looking statements made here. However, readers should review carefully reports and documents that HII files periodically with the Securities and Exchange Commission.

Investor Relations Contact

Derek Gradwell
MZ Group
SVP, Natural Resources
Phone: 512-270-6990
Email: dgradwell@mzgroup.us

Source: HII Technologies, Inc.

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HII Technologies Announces Participation in Upcoming Investor Conference http://ir.hiitinc.com/press-releases/detail/534/hii-technologies-announces-participation-in-upcoming-investor-conference Thu, 22 Jan 2015 08:00:00 -0500 http://ir.hiitinc.com/press-releases/detail/534/hii-technologies-announces-participation-in-upcoming-investor-conference HOUSTON, TX -- (Marketwired) -- 01/22/15 -- HII Technologies, Inc. (OTCQB: HIIT) ("HII Technologies" or the "Company"), an oilfield service company focused in frac water management, oilfield power and safety services headquartered in Houston, Texas, today announced that management will present at the upcoming IPAA OGIS Florida investor conference.

OGIS Florida
Date: February 3, 2015
Location: The Ritz-Carlton
Fort Lauderdale, FL

Conference participation is by invitation only and registration is mandatory. For more information on the conference or to schedule a one-on-one meeting, please contact the conference coordinator. Webcasts of the presentation will be made available on HII Technologies' website at http://ir.hiitinc.com/ir-calendar.

About OGIS® Florida 

The OGIS Florida has become one of the premier outlets for publicly traded independent exploration and production, service and supply and MLP companies to present their company profiles to the investment

About HII Technologies, Inc.

HII Technologies, Inc. is a Houston, Texas based oilfield services company with operations in Texas, Oklahoma, Ohio and West Virginia. By focusing on the critical service areas of Water, Safety and Power, the Company is positioned to take advantage of the significant anticipated growth in horizontal drilling and hydraulic fracturing within the United States' active shale and unconventional "tight oil" plays. The Company's frac water management division does business as AES Water Solutions, Hamilton and AquaTex, its onsite oilfield contract safety consultancy does business as AES Safety Services, and its mobile oilfield power subsidiary does business as South Texas Power (STP). The holding company, HII Technologies' objective is to bring proven technologies to these operating divisions to build a long-term competitive advantage for its stakeholders. Read more at www.HIITinc.comwww.AESWaterSolutions.comwww.AquaTexUSA.com, www.HamiltonFracWater.comwww.AESSafetyServices.com and www.Oilfield-Generators.com.

Investor Relations Contact

Derek Gradwell
MZ Group
SVP, Natural Resources
Phone: 512-270-6990
Email: dgradwell@mzgroup.us
Web: www.mzgroup.us

Source: HII Technologies, Inc.

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HII Technologies to Present to the Energy Prospectus Group http://ir.hiitinc.com/press-releases/detail/524/hii-technologies-to-present-to-the-energy-prospectus-group Tue, 13 Jan 2015 08:00:00 -0500 http://ir.hiitinc.com/press-releases/detail/524/hii-technologies-to-present-to-the-energy-prospectus-group HOUSTON, TX -- (Marketwired) -- 01/13/15 -- HII Technologies, Inc. (OTCQB: HIIT) ("HII Technologies" or the "Company"), an oilfield service company focused in frac water management, oilfield power and safety services headquartered in Houston, Texas, today announced that Matt Flemming, CEO and Brent Mulliniks, President of the Company's subsidiary, AES Water Solutions, will present a review and investor update of the Company to the Energy Prospectus Group (EPG). The EPG luncheon will be held at the Hess Club located at 5430 Westheimer, Houston, Texas on January 30, 2015 starting at 11:30 am. Interested attendees who would like to meet management and attend the luncheon may register for the meeting at https://www.energyprospectus.com/event.php?eventId=142.

A copy of the presentation will be available on the Company's website on January 30th. The presentation will also be available to members of the Energy Prospectus Group at www.energyprospectus.com

About the Energy Prospectus Group

Energy Prospectus Group (EPG) is a networking organization for private investors that are heavily invested in the energy sector. Members are geologists, engineers, landman, financial professionals and small business owners. Many of them have decades of experience in the energy industry. EPG members have access to individual company profiles and forecast models plus several Watch Lists that are housed on the organization's website. The organization also has numerous networking events throughout the year where members and guests get to meet the management of presenting companies. This forum gives members an opportunity to share their ideas on individual companies, the markets and trends in the industry.

About HII Technologies, Inc.

HII Technologies, Inc. is a Houston, Texas based oilfield services company with operations in Texas, Oklahoma, Ohio and West Virginia. By focusing on the critical service areas of Water, Safety and Power, the Company is positioned to take advantage of the significant anticipated growth in horizontal drilling and hydraulic fracturing within the United States' active shale and unconventional "tight oil" plays. The Company's frac water management division does business as AES Water Solutions, Hamilton and AquaTex, its onsite oilfield contract safety consultancy does business as AES Safety Services, and its mobile oilfield power subsidiary does business as South Texas Power (STP). The holding company, HII Technologies' objective is to bring proven technologies to these operating divisions to build a long-term competitive advantage for its stakeholders. Read more at www.HIITinc.comwww.AESWaterSolutions.comwww.AquaTexUSA.com, www.HamiltonFracWater.comwww.AESSafetyServices.com and www.Oilfield-Generators.com.

Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements as to matters that are not of historic fact are forward-looking statements. These forward-looking statements are based on HII's current expectations, estimates and projections about HII, its industry, its management's beliefs and certain assumptions made by management, and include statements regarding estimated capital expenditures, future operational and activity expectations, international growth, and anticipated financial performance in 2014. No assurance can be given that such expectations, estimates or projections will prove to have been correct. Whenever possible, these "forward-looking statements" are identified by words such as "expects," "believes," "anticipates" and similar phrases.

Readers are cautioned that any such forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict, including, but not limited to: risks that HII will be unable to achieve its financial, capital expenditure and operational projections, including quarterly and annual projections of revenue and/or operating income and risks that HII's expectations regarding future activity levels, customer demand, and pricing stability may not materialize (whether for HII as a whole or for geographic regions and/or business segments individually); risks that fundamentals in the U.S. oil and gas markets may not yield anticipated future growth in HII's businesses, or could further deteriorate or worsen from the recent market declines, and/or that HII could experience further unexpected declines in activity and demand for its hydraulic frac related water transfer business, its safety consultancy business or its generator and related equipment rental service businesses; risks relating to HII's ability to implement technological developments and enhancements; risks relating to compliance with environmental, health and safety laws and regulations, as well as actions by governmental and regulatory authorities; risks that HII may be unable to achieve the benefits expected from acquisition and disposition transactions, and risks associated with integration of the acquired operations into HII's operations; risks, in responding to changing or declining market conditions, that HII may not be able to reduce, and could even experience increases in, the costs of labor, fuel, equipment and supplies employed and used in HII's businesses; risks relating to changes in the demand for or the price of oil and natural gas; risks that HII may not be able to execute its capital expenditure program and/or that any such capital expenditure investments, if made, will not generate adequate returns; and other risks affecting HII's ability to maintain or improve operations, including its ability to maintain prices for services under market pricing pressures, weather risks, and the impact of potential increases in general and administrative expenses.

Because such statements involve risks and uncertainties, many of which are outside of HII's control, HII's actual results and performance may differ materially from the results expressed or implied by such forward-looking statements. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Other important risk factors that may affect HII's business, results of operations and financial position are discussed in its most recently filed Annual Report on Form 10-K, recent Quarterly Reports on Form 10-Q, recent Current Reports on Form 8-K and in other Securities and Exchange Commission filings. Unless otherwise required by law, HII also disclaims any obligation to update its view of any such risks or uncertainties or to announce publicly the result of any revisions to the forward-looking statements made here. However, readers should review carefully reports and documents that HII files periodically with the Securities and Exchange Commission.

Investor Relations Contact

Derek Gradwell
MZ Group
SVP, Natural Resources
Phone: 512-270-6990
Email: dgradwell@mzgroup.us
Web: www.mzgroup.us

Source: HII Technologies, Inc.

]]>
HII Technologies Provides Operational Update; Business Activity Remains Robust http://ir.hiitinc.com/press-releases/detail/504/hii-technologies-provides-operational-update-business-activity-remains-robust Thu, 04 Dec 2014 09:30:00 -0500 http://ir.hiitinc.com/press-releases/detail/504/hii-technologies-provides-operational-update-business-activity-remains-robust Added New Water Services Contract With Major Domestic E&P Company; Company Added 10 New Master Service Agreements Since End of September

HOUSTON, TX -- (Marketwired) -- 12/04/14 -- HII Technologies, Inc. (OTCQB: HIIT) ("HII Technologies" or the "Company"), an oilfield services company headquartered in Houston, Texas, provided a timely update on current operations.

"While we understand the market's concern over falling crude oil prices, we note that business continues to grow rapidly at HII Technologies," stated Matthew Flemming, CEO. "Our top five customers represent more than 50% of our current revenues and are comprised of Apache, Devon, Chesapeake, Pioneer, and American Energy Partners. Our geographic footprint in the Southwest United States, includes some of the most economically feasible basins such as the Eagle Ford Shale and Permian basins, which have lower production costs in relation to the rest of the US shale plays. New business activity has remained robust and we currently have seen no slowdown in customer demand or oilfield operators for our frac water management services."

Below is a summary of important developments:

  • HIIT's customer base continues to expand rapidly; we have added ten new Master Service Agreements (MSA) since the end of September 2014.
  • The Company's customers continue to request new value-added services. We recently received a contract from a major US oilfield producer in West Texas for water facilities services. We believe this relationship will produce annual revenues of at least $6 million.
  • Currently, HIIT is aware of customer pullback only in the Bakken where higher operating and transportation costs affect activity, and this does not affect HIIT's business. 
  • Gas production is rising, which will also create rising demand for our services, and we expect this demand to remain stable.
  • Evaporation technology product line has been commercialized in the last 90 days and customer demand has been highly receptive to this technology in lieu of high trucking and waste water disposal costs.
  • The Rig Count activity grew from 900 rigs in Texas and 212 in Oklahoma in August 2014 to 901 and 214 respectively by the end of November, according to the Baker Hughes Rig Count.
  • Our guidance for the full year 2014 remains unchanged at $50-53 million in revenues and $8-10 million in EBITDA (both figures pro forma for the Hamilton acquisition).

"Our core water transfer services remain in demand by operators and our technology continues to differentiate us in the marketplace adding lower cost alternatives and services to oilfield operators. Additionally, we have seen an increase in the number of accretive acquisition opportunities that are presented to us. The HIIT team is looking forward to another year of rapid growth in 2015," concluded Mr. Flemming.

About HII Technologies, Inc.

HII Technologies, Inc. is a Houston, Texas based oilfield services company with operations in Texas, Oklahoma, Ohio and West Virginia. By focusing on the critical service areas of Water, Safety and Power, the Company is positioned to take advantage of the significant anticipated growth in horizontal drilling and hydraulic fracturing within the United States' active shale and unconventional "tight oil" plays. The Company's frac water management division does business as AES Water Solutions, Hamilton and AquaTex, its onsite oilfield contract safety consultancy does business as AES Safety Services, and its mobile oilfield power subsidiary does business as South Texas Power (STP). The holding company, HII Technologies' objective is to bring proven technologies to these operating divisions to build a long-term competitive advantage for its stakeholders. Read more at www.HIITinc.com, www.AquaTexUSA.com, www.AESWaterSolutions.com, www.AESSafetyServices.com and www.Oilfield-Generators.com.

Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements as to matters that are not of historic fact are forward-looking statements. These forward-looking statements are based on HII's current expectations, estimates and projections about HII, its industry, its management's beliefs and certain assumptions made by management, and include statements regarding estimated capital expenditures, future operational and activity expectations, international growth, and anticipated financial performance in 2014. No assurance can be given that such expectations, estimates or projections will prove to have been correct. Whenever possible, these "forward-looking statements" are identified by words such as "expects," "believes," "anticipates" and similar phrases.

Readers are cautioned that any such forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict, including, but not limited to: risks that HII will be unable to achieve its financial, capital expenditure and operational projections, including quarterly and annual projections of revenue and/or operating income and risks that HII's expectations regarding future activity levels, customer demand, and pricing stability may not materialize (whether for HII as a whole or for geographic regions and/or business segments individually); risks that fundamentals in the U.S. oil and gas markets may not yield anticipated future growth in HII's businesses, or could further deteriorate or worsen from the recent market declines, and/or that HII could experience further unexpected declines in activity and demand for its hydraulic frac related water transfer business, its safety consultancy business or its generator and related equipment rental service businesses; risks relating to HII's ability to implement technological developments and enhancements; risks relating to compliance with environmental, health and safety laws and regulations, as well as actions by governmental and regulatory authorities; risks that HII may be unable to achieve the benefits expected from acquisition and disposition transactions, and risks associated with integration of the acquired operations into HII's operations; risks, in responding to changing or declining market conditions, that HII may not be able to reduce, and could even experience increases in, the costs of labor, fuel, equipment and supplies employed and used in HII's businesses; risks relating to changes in the demand for or the price of oil and natural gas; risks that HII may not be able to execute its capital expenditure program and/or that any such capital expenditure investments, if made, will not generate adequate returns; and other risks affecting HII's ability to maintain or improve operations, including its ability to maintain prices for services under market pricing pressures, weather risks, and the impact of potential increases in general and administrative expenses.

Because such statements involve risks and uncertainties, many of which are outside of HII's control, HII's actual results and performance may differ materially from the results expressed or implied by such forward-looking statements. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Other important risk factors that may affect HII's business, results of operations and financial position are discussed in its most recently filed Annual Report on Form 10-K, recent Quarterly Reports on Form 10-Q, recent Current Reports on Form 8-K and in other Securities and Exchange Commission filings. Unless otherwise required by law, HII also disclaims any obligation to update its view of any such risks or uncertainties or to announce publicly the result of any revisions to the forward-looking statements made here. However, readers should review carefully reports and documents that HII files periodically with the Securities and Exchange Commission.

Investor Relations Contact

Derek Gradwell
MZ Group North America
Phone: 512-270-6990
Email: dgradwell@mzgroup.us
Web: www.mzgroup.us 

Source: HII Technologies, Inc.

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HII Technologies, Inc. Announces New VP of Business Development for Hii Technologies' Water Divisions http://ir.hiitinc.com/press-releases/detail/494/hii-technologies-inc-announces-new-vp-of-business-development-for-hii-technologies-water-divisions Thu, 20 Nov 2014 08:00:00 -0500 http://ir.hiitinc.com/press-releases/detail/494/hii-technologies-inc-announces-new-vp-of-business-development-for-hii-technologies-water-divisions HOUSTON, TX -- (Marketwired) -- 11/20/14 --  HII Technologies, Inc. (OTCQB: HIIT) ("HII Technologies" or the "Company"), an oilfield services company headquartered in Houston, Texas, today announced the hiring of Peter Baldwin as new Vice President of Business Development for HII Technologies' Water Divisions.

"We have been hard at work developing a comprehensive suite of oilfield services to provide to our customers and by hiring Pete, the Company will be well positioned to increase its client base and leadership position in water management and safety services," commented Brent Mulliniks, AES Water Solutions' President. "Pete's extensive industry experience and proven ability to garner strategic relationships will benefit the Company as we further execute our growth initiatives, technology commercialization and gain momentum in the market," continued Mr. Mulliniks.

Pete Baldwin has over 25 years of environmental experience with a focus on environmental, health & safety for oil and gas clients worldwide. Most recently, Mr. Baldwin was Vice President and Global Market Leader for Oil & Gas Environmental Services at CH2M HILL (the largest environmental and water engineering company in the world) with focus on groundwater, soil assessment/ remediation, oilfield water management, and safety services.

Pete Baldwin has developed environmental strategies for integrated and independent oil companies worldwide, including Shell, BP, Chevron, EOG, and Apache, and developed strategic account teams for key clients. Pete will help support development efforts by targeting new accounts and increasing awareness of HII Technologies' offerings that include Total Water Management through water transfer, storage, flow back support, recycling and evaporation; employing innovative technologies to improve quality while maintaining cost effective delivery.

About HII Technologies, Inc.

HII Technologies, Inc. is a Houston, Texas based oilfield services company with operations in Texas, Oklahoma, Ohio and West Virginia. By focusing on the critical service areas of Water, Safety and Power, the Company is positioned to take advantage of the significant anticipated growth in horizontal drilling and hydraulic fracturing within the United States' active shale and unconventional "tight oil" plays. The Company's frac water management division does business as AES Water Solutions, Hamilton and AquaTex, its onsite oilfield contract safety consultancy does business as AES Safety Services, and its mobile oilfield power subsidiary does business as South Texas Power (STP). The holding company, HII Technologies' objective is to bring proven technologies to these operating divisions to build a long-term competitive advantage for its stakeholders. Read more at www.HIITinc.com, www.AquaTexUSA.com, www.AESWaterSolutions.com, www.AESSafetyServices.com and www.Oilfield-Generators.com.

Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements as to matters that are not of historic fact are forward-looking statements. These forward-looking statements are based on HII's current expectations, estimates and projections about HII, its industry, its management's beliefs and certain assumptions made by management, and include statements regarding estimated capital expenditures, future operational and activity expectations, international growth, and anticipated financial performance in 2014. No assurance can be given that such expectations, estimates or projections will prove to have been correct. Whenever possible, these "forward-looking statements" are identified by words such as "expects," "believes," "anticipates" and similar phrases.

Readers are cautioned that any such forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict, including, but not limited to: risks that HII will be unable to achieve its financial, capital expenditure and operational projections, including quarterly and annual projections of revenue and/or operating income and risks that HII's expectations regarding future activity levels, customer demand, and pricing stability may not materialize (whether for HII as a whole or for geographic regions and/or business segments individually); risks that fundamentals in the U.S. oil and gas markets may not yield anticipated future growth in HII's businesses, or could further deteriorate or worsen from the recent market declines, and/or that HII could experience further unexpected declines in activity and demand for its hydraulic frac related water transfer business, its safety consultancy business or its generator and related equipment rental service businesses; risks relating to HII's ability to implement technological developments and enhancements; risks relating to compliance with environmental, health and safety laws and regulations, as well as actions by governmental and regulatory authorities; risks that HII may be unable to achieve the benefits expected from acquisition and disposition transactions, and risks associated with integration of the acquired operations into HII's operations; risks, in responding to changing or declining market conditions, that HII may not be able to reduce, and could even experience increases in, the costs of labor, fuel, equipment and supplies employed and used in HII's businesses; risks relating to changes in the demand for or the price of oil and natural gas; risks that HII may not be able to execute its capital expenditure program and/or that any such capital expenditure investments, if made, will not generate adequate returns; and other risks affecting HII's ability to maintain or improve operations, including its ability to maintain prices for services under market pricing pressures, weather risks, and the impact of potential increases in general and administrative expenses.

Because such statements involve risks and uncertainties, many of which are outside of HII's control, HII's actual results and performance may differ materially from the results expressed or implied by such forward-looking statements. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Other important risk factors that may affect HII's business, results of operations and financial position are discussed in its most recently filed Annual Report on Form 10-K, recent Quarterly Reports on Form 10-Q, recent Current Reports on Form 8-K and in other Securities and Exchange Commission filings. Unless otherwise required by law, HII also disclaims any obligation to update its view of any such risks or uncertainties or to announce publicly the result of any revisions to the forward-looking statements made here. However, readers should review carefully reports and documents that HII files periodically with the Securities and Exchange Commission.

Investor Relations Contact

Derek Gradwell
MZ Group North America
Phone: 512-270-6990
Email: dgradwell@mzgroup.us
Web: www.mzgroup.us 

Source: HII Technologies, Inc.

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HII Technologies Announces Participation in Upcoming Investor Conference http://ir.hiitinc.com/press-releases/detail/484/hii-technologies-announces-participation-in-upcoming-investor-conference Wed, 19 Nov 2014 08:00:00 -0500 http://ir.hiitinc.com/press-releases/detail/484/hii-technologies-announces-participation-in-upcoming-investor-conference HOUSTON, TX -- (Marketwired) -- 11/19/14 -- HII Technologies, Inc. (OTCQB: HIIT) ("HII Technologies" or the "Company"), today announced that management will present at the following upcoming investor conference.

LD Micro Conference

Date: December 2, 2014 at 11:30 AM Pacific Time
Location: Luxe Hotel
  Los Angeles, CA
Webcast: http://wsw.com/webcast/ldmicro7/hiit

Conference participation is by invitation only and registration is mandatory. For more information on the conferences or to schedule a one-on-one meeting, please contact the conference coordinators. Webcasts of certain presentations will be made available on HII Technologies' website at http://ir.hiitinc.com/ir-calendar.

About LD Micro Conference

The LD Micro Conference is a three-day conference organized by LD Micro, an internet-based newsletter that provides self-directed investors information on selected public companies that in the opinion of LD Micro have great investment potential. More than two hundred institutions focused on small and micro-cap stocks are expected to attend. For more information, please visit the conference website at http://www.ldmicro.com/

About HII Technologies, Inc.

HII Technologies, Inc. is a Houston, Texas based oilfield services company with operations in Texas, Oklahoma, Ohio and West Virginia. By focusing on the critical service areas of Water, Safety and Power, the Company is positioned to take advantage of the significant anticipated growth in horizontal drilling and hydraulic fracturing within the United States' active shale and unconventional "tight oil" plays. The Company's frac water management division does business as Hamilton, AES Water Solutions and AquaTex, its onsite oilfield contract safety consultancy does business as AES Safety Services, and its mobile oilfield power subsidiary does business as South Texas Power (STP). The holding company, HII Technologies' objective is to bring proven technologies to these operating divisions to build a long-term competitive advantage for its stakeholders. Read more at www.HIITinc.comwww.AquaTexUSA.comwww.AESWaterSolutions.com, www.AESSafetyServices.com and www.Oilfield-Generators.com.

Investor Relations Contact

Derek Gradwell
SVP Natural Resources
MZ Group North America
Phone: 512-270-6990
Email: dgradwell@mzgroup.us
Web: www.mzgroup.us

Source: HII Technologies, Inc.

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HII Technologies, Inc. Reports Third Quarter and Nine Months Financial Results http://ir.hiitinc.com/press-releases/detail/474/hii-technologies-inc-reports-third-quarter-and-nine-months-financial-results Mon, 17 Nov 2014 08:00:00 -0500 http://ir.hiitinc.com/press-releases/detail/474/hii-technologies-inc-reports-third-quarter-and-nine-months-financial-results HOUSTON, TX -- (Marketwired) -- 11/17/14 -- HII Technologies, Inc. (OTCQB: HIIT) ("HII Technologies" or the "Company"), today announced financial results for the third quarter and nine months ended September 30, 2014.

Third Quarter 2014 Highlights :

  • Revenue totaled $10.0 million, a 155% increase over Q3, 2013 due to strong sales growth from all three divisions as well as the acquisition of Hamilton in mid-August,
  • Gross Profit increased by $1.8 million, a 157% increase to $2.9 million compared to Q3, 2013,
  • Adjusted EBITDA was $1.3 million and $1.8 million for the quarter and nine months ended September 30, 2014, respectively,
  • Closed the immediately accretive Hamilton acquisition growing our Frac Water Management division,
  • Further capitalized the Company with a new $18 million senior credit facility in August and a $4 million Series A preferred stock offering in June-July,
  • Successfully commercialized frac water evaporation technology addressing customer's expensive trucking/disposal issues,
  • Pro forma Revenues and Adjusted EBITDA for the nine months ended September 30, 2014 were $32.5 million and $5.4 million, respectively, giving effect to the Hamilton acquisition as if it had occurred on January 1, 2014.

The Company's frac water management services division conducts business through its wholly-owned subsidiaries known as AES Water Solutions, AquaTex and Hamilton Water Transfer. The water division provides total frac water management solutions associated with the millions of gallons of water typically used during hydraulic fracturing and completions of horizontally drilled oil and gas wells. Frac water management services include in-bound water transfer to the frac, post-frac flow back and well test services, above-ground tank storage, as well as onsite frac water recycling and evaporation services reducing trucking and waste water disposal well costs.  AES Safety Services, the Company's oilfield safety consultancy division, provides experienced, trained safety personnel including contract safety engineers during oilfield operations from drilling to completion for E&P customers. Additional services provided under our Safety Services division include training, inspection and environmental remediation. The Company's oilfield mobile power subsidiary does business as South Texas Power (STP) and operates a fleet of mobile natural gas and diesel powered generators, light towers and related equipment for in-field power rental where remote locations provide little or no existing power infrastructure. 

Third Quarter 2014 Results  (ending September 30th)
    Q3 2014   Q3 2013   CHANGE
Revenues   $10.0 million   $3.9 million   +155%
Gross Profit   $2.9 million   $1.1 million   +157%
Gross Margin   29.1%   28.9%   +0.7%
Income (loss) from Operations   $0.33 million   ($0.07 million)   +566%
Adjusted EBITDA(1)   $1.3 million   $0.07 million   +1,512%
Net Income (Loss)   $4.8 million   ($0.18 million)   +2,868%
             

(1) A reconciliation table of the Adjusted EBITDA is provided below

Revenues for the three months ended September 30, 2014 were $10.0 million, up 155% from $3.9 million in the comparable 2013 period. This increase was primarily attributable to the acquisition of Hamilton in mid-August, 2014, as well as the continued growth within the Company's water division from AES Water Solutions and AquaTex (acquired in November 2013) and frac water management services. Additionally, increased revenues came from organic growth of AES Safety Services, including its new spill remediation service line, and organic growth in STP's business in mobile oilfield power. All three divisions -- Water, Safety and Power -- benefited from continued horizontal drilling and related hydraulic fracing activity in the U.S.

"As expected, the third quarter provided for significant organic growth across all divisions with exceptional performance in our frac water management segment," commented Brent Mulliniks, Director and President of AES Water Solutions. The addition of Hamilton has given us a much greater operational latitude and the opportunity to provide existing services to an expanded customer base and in new geographic areas. With third quarter revenues increasing by more than 155% from the same period in 2013, we are experiencing a ramp in our growth in the second half of 2014 including increased market share in the natural gas section of the Barnett Shale for re-completions and re-fracs that should mark a record year," Mulliniks concluded.

The cost of revenues increased by approximately 154% to $7.1 million in the three months ended September 30, 2014, or 71% of revenues, compared to cost of revenues of $2.8 million, or 71% of revenues for comparable 2013 period. The Company's gross profit and gross margin were $2.9 million and 29.1%, respectively, in the three months ended September 30, 2014 compared to $1.1 million and 28.9%, respectively, in the three months ended September 30, 2013.

Operating expenses were approximately $2.6 million, or 25.9% of revenues, for the three months ended September 30, 2014 as compared to $1.2 million, or 30.7% of revenues, in the comparable 2013 period. The decrease was primarily attributable to increased revenues covering a higher percentage of operating costs. The Company generated an operating profit of $0.33 million in the three months ended September 30, 2014 compared to an operating loss of $0.07 million in the comparable 2013 period.

For the three months ended September 30, 2014, the Company had non-GAAP adjusted EBITDA of approximately $1.3 million, (EBITDA defined as earnings before interest, taxes, depreciation, amortization, non-cash stock option expenses, and one-time non-operational expense items). A reconciliation table of the adjusted EBITDA is provided below. The net income for the three months ended September 30 2014 was $4.8 million compared to a loss of $0.18 million in the comparable 2013 period. The net income for the third quarter 2014 included a tax benefit related to the reduction of the valuation allowance on the deferred tax asset of $5.6 million, the amortization of non-cash debt discount costs of $0.06 million and the amortization of deferred financing costs of $0.09 million. HII Technologies had approximately 53.1 million shares outstanding at September 30, 2014.

Nine Months 2014 Results  (ending September 30)
    9M 2014   9M 2013   CHANGE
Revenues   $24.3 million   $9.8 million   +149%
Gross Profit   $6.9 million   $2.5 million   +171%
Gross Margin   28.3%   25.9%   +9%
Income (loss) from Operations   $0.06 million   ($0.19 million)   +134%
Adjusted EBITDA(1)   $1.8 million   $0.3   +483%
Net Income (Loss)   $4.2 million   ($.66 million)   +731%
             

Balance Sheet and Liquidity

Total assets increased from $10.2 million at December 31, 2013 to $45.2 million at September 30, 2014. On August 12, 2014, the balance of $4.8 million on the line of credit was paid off using proceeds from the new senior credit facility discussed below.

Cash and cash equivalents were $1.98 million (not including restricted cash) and total current assets were $15.9 million at September 30, 2014 compared to $0.9 million and $5.0 million at December 31, 2013, respectively. Net cash used in operations increased to $3.0 million for the nine months ended September 30, 2014 as compared to net cash used in operating activities of $0.5 million for the comparable 2013 period primarily due to the 5.6 million tax benefit for the reduction of a deferred tax asset allowance.

Operational Updates

Debt Financing

On August 12, 2014 the company announced that it had secured $18 million of senior secured debt funding from a group of lenders, led by Heartland Bank, an Arkansas State Bank based in Little Rock, Arkansas. The credit facility included an accordion feature of $10 million for future capital needs, which use is subject to lender approval.

Acquisitions

On August 12, 2014, the Company consummated the acquisition of Hamilton Investment Group, Inc. ("Hamilton") pursuant to the terms of a Stock Purchase Agreement dated August 11, 2014. The $11.3 million purchase price consisted of $9 million in cash and $2.3 million in shares of the Company's common stock valued based on a 20-day trailing average ($0.65275), or 3,523,554 shares.

Founded in 1993 in Guthrie, Oklahoma, Hamilton provides frac water transfer services to oilfield operators located in Oklahoma and North Texas. Today, Hamilton has an inventory of approximately 50 miles of aluminum pipe and lay flat hose, as well as pumps and other related equipment, which they deploy in a services business model similar to AquaTex and AES Water Solutions, HII's frac water services subsidiaries. Oilfield operators contract with Hamilton to transport the necessary 5 to 10 million gallons of water needed for a single hydraulic fracturing completion or 'frac' of a well.

Guidance

The Company is not changing or updating guidance at this time and anticipates issuing fiscal year 2015 guidance by the end of March 2015.

"The third quarter proved to be a transformational period for us," stated Matthew Flemming, CEO of HII Technologies. "Our increased access to capital and subsequent closing on Hamilton set the stage for double digit annual growth and gave HIIT the access to new customers and locations that would have been substantially more time consuming to enter organically. We believe our improved liquidity profile and this recent acquisition provides investors with further evidence of the type of accretive opportunities we continue to identify and have the experience to close. We plan to continue future growth through similar accretive transactions supported by marked organic growth across each of our business units."

For more information and management's discussion and analysis of the quarter results, please see the Company's Quarterly Report on Form 10-Q filed November 14, 2014 with the Securities and Exchange Commission.

Investor Conference Call

The Company will host a webcast and conference call with investors at 11:00 am Eastern Time on Monday, November 17, 2014. CEO Matthew Flemming and President Brent Mulliniks will discuss the company's milestones, growth strategy and financial position.

Date: Monday, November 17, 2014
Time: 11:00 am ET / 10:00 am CT
Dial-in (US): 888-461-2024
Dial-in (Intl.): 719-325-2454
Conference ID: 8973958
Webcast: http://public.viavid.com/index.php?id=111850

A replay of the call will be available after 2 pm ET November 17th. To access the replay, use 877-870-5176 for U.S. callers and 858-384-5517 for international callers. The PIN number is 8973958.

About HII Technologies, Inc.

HII Technologies, Inc. is a Houston, Texas based oilfield services company with operations in Texas, Oklahoma, Ohio and West Virginia. By focusing on the critical service areas of Water, Safety and Power, the Company is positioned to take advantage of the significant anticipated growth in horizontal drilling and hydraulic fracturing within the United States' active shale and unconventional "tight oil" plays. The Company's frac water management division does business as AquaTex, Hamilton and AES Water Solutions, its onsite oilfield contract safety consultancy does business as AES Safety Services, and its mobile oilfield power subsidiary does business as South Texas Power (STP). The holding company, HII Technologies' objective is to bring proven technologies to these operating divisions to build a long-term competitive advantage for its stakeholders. Read more at www.HIITinc.com, www.AquaTexUSA.com, www.AESWaterSolutions.com, www.AESSafetyServices.com and www.Oilfield-Generators.com.

Non-GAAP Adjusted EBITDA Reconciliation Table

Following is a reconciliation of income from continuing operations attributable to the Company for the three and nine months ended September 30, 2014 as presented in accordance with United States generally accepted accounting principles (GAAP) to EBITDA.

Q3 2014: Net Income $ 4,849,770  
  Add back:      
    Interest   1,036,479  
    Taxes   (5,561,237 )
    Depreciation   613,522  
    Non-cash stock expense   55,981  
    One-time non-operational items   265,641  
  Adjusted EBITDA $ 1,260,156  
         
9 Months 2014: Net Income $ 4,184,365  
  Add back:      
    Interest   1,352,324  
    Taxes   (5,483,854 )
    Depreciation   907,502  
    Non-cash stock expense   299,402  
    One-time non-operational items   566,565  
  Adjusted EBITDA $ 1,826,304  
         
Pro Forma:        
9 Months 2014: Net Income $ 5,391,583  
  Add back:      
    Interest   2,913,347  
    Taxes   (5,482,840 )
    Depreciation   1,758,845  
    Non-cash stock expense   299,402  
    One-time non-operational items   566,565  
  Adjusted EBITDA $ 5,446,902  

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements as to matters that are not of historic fact are forward-looking statements. These forward-looking statements are based on HII's current expectations, estimates and projections about HII, its industry, its management's beliefs and certain assumptions made by management, and include statements regarding estimated capital expenditures, future operational and activity expectations, international growth, and anticipated financial performance in 2014. No assurance can be given that such expectations, estimates or projections will prove to have been correct. Whenever possible, these "forward-looking statements" are identified by words such as "expects," "believes," "anticipates" and similar phrases.

Readers are cautioned that any such forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict, including, but not limited to: risks that HII will be unable to achieve its financial, capital expenditure and operational projections, including quarterly and annual projections of revenue and/or operating income and risks that HII's expectations regarding future activity levels, customer demand, and pricing stability may not materialize (whether for HII as a whole or for geographic regions and/or business segments individually); risks that fundamentals in the U.S. oil and gas markets may not yield anticipated future growth in HII's businesses, or could further deteriorate or worsen from the recent market declines, and/or that HII could experience further unexpected declines in activity and demand for its hydraulic frac related water transfer business, its safety consultancy business or its generator and related equipment rental service businesses; risks relating to HII's ability to implement technological developments and enhancements; risks relating to compliance with environmental, health and safety laws and regulations, as well as actions by governmental and regulatory authorities; risks that HII may be unable to achieve the benefits expected from acquisition and disposition transactions, and risks associated with integration of the acquired operations into HII's operations; risks, in responding to changing or declining market conditions, that HII may not be able to reduce, and could even experience increases in, the costs of labor, fuel, equipment and supplies employed and used in HII's businesses; risks relating to changes in the demand for or the price of oil and natural gas; risks that HII may not be able to execute its capital expenditure program and/or that any such capital expenditure investments, if made, will not generate adequate returns; and other risks affecting HII's ability to maintain or improve operations, including its ability to maintain prices for services under market pricing pressures, weather risks, and the impact of potential increases in general and administrative expenses.

Because such statements involve risks and uncertainties, many of which are outside of HII's control, HII's actual results and performance may differ materially from the results expressed or implied by such forward-looking statements. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Other important risk factors that may affect HII's business, results of operations and financial position are discussed in its most recently filed Annual Report on Form 10-K, recent Quarterly Reports on Form 10-Q, recent Current Reports on Form 8-K and in other Securities and Exchange Commission filings. Unless otherwise required by law, HII also disclaims any obligation to update its view of any such risks or uncertainties or to announce publicly the result of any revisions to the forward-looking statements made here. However, readers should review carefully reports and documents that HII files periodically with the Securities and Exchange Commission.

Investor Relations Contact

Derek Gradwell
MZ Group North America
Phone: 512-270-6990
Email: dgradwell@mzgroup.us
Web: www.mzgroup.us

Source: HII Technologies, Inc.

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HII Technologies to Host Third Quarter 2014 Earnings Conference Call http://ir.hiitinc.com/press-releases/detail/464/hii-technologies-to-host-third-quarter-2014-earnings-conference-call Fri, 07 Nov 2014 08:00:00 -0500 http://ir.hiitinc.com/press-releases/detail/464/hii-technologies-to-host-third-quarter-2014-earnings-conference-call 11:00 am ET Monday, November 17

HOUSTON, TX -- (Marketwired) -- 11/07/14 -- HII Technologies, Inc. (OTCQB: HIIT) ("HII Technologies" or the "Company"), today announced that management will host a conference call and webcast to discuss its third quarter 2014 financial results and provide an update on its operations.

Date:  Monday, November 17, 2014 
Time:  11:00 am ET 
Dial-in (US):  888-461-2024 
Dial-in (Intl.):  719-325-2454 
Conference ID:  8973958 
Webcast:  http://public.viavid.com/index.php?id=111850 

A replay of the call will be available after 2:00 pm ET November 17, 2014. To access the replay, use 877-870-5176 for U.S. callers and 858-384-5517 for international callers. The PIN number is 8973958.

About HII Technologies, Inc.

HII Technologies, Inc. is a Houston, Texas based oilfield services company with operations in Texas, Oklahoma, Ohio and West Virginia. By focusing on the critical service areas of Water, Safety and Power, the Company is positioned to take advantage of the significant anticipated growth in horizontal drilling and hydraulic fracturing within the United States' active shale and unconventional "tight oil" plays. The Company's frac water management division does business as AquaTex, Hamilton and AES Water Solutions, its onsite oilfield contract safety consultancy does business as AES Safety Services, and its mobile oilfield power subsidiary does business as South Texas Power (STP). The holding company, HII Technologies' objective is to bring proven technologies to these operating divisions to build a long-term competitive advantage for its stakeholders. Read more at www.HIITinc.comwww.AquaTexUSA.comwww.AESWaterSolutions.comwww.AESSafetyServices.com and www.Oilfield-Generators.com.

Investor Relations Contact

Derek Gradwell
MZ Group North America
Phone: 512-270-6990
Email: dgradwell@mzgroup.us
Web: www.mzgroup.us

Source: HII Technologies, Inc.

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HII Technologies, Inc. Announces Preliminary Revenues for Third Quarter 2014 to Exceed $9.6 Million; Sequential Quarterly Increase of at Least 41% http://ir.hiitinc.com/press-releases/detail/454/hii-technologies-inc-announces-preliminary-revenues-for-third-quarter-2014-to-exceed-9-6-million-sequential-quarterly-increase-of-at-least-41 Thu, 23 Oct 2014 16:15:00 -0400 http://ir.hiitinc.com/press-releases/detail/454/hii-technologies-inc-announces-preliminary-revenues-for-third-quarter-2014-to-exceed-9-6-million-sequential-quarterly-increase-of-at-least-41 HOUSTON, TX -- (Marketwired) -- 10/23/14 -- HII Technologies, Inc. (OTCQB: HIIT) ("HII Technologies" or the "Company"), today announced that its preliminary unaudited results for consolidated revenues from operations for the third quarter ended September 30, 2014 exceeded $9.6 million. This represents a 146% increase from the Company's $3.9 million in revenues for the third quarter of 2013 and over a 41% sequential quarterly increase from the Company's second quarter 2014 revenues of approximately $6.8 million.

On a combined pro forma basis, the Company's revenues for the quarter and nine months ended September 30, 2014 exceeded $11.0 million and $32.8 million, respectively. These pro forma results give pro forma effect to the Company's acquisition of Hamilton Investment Group as of January 1, 2014 while it actually closed on August 12, 2014.

"We are continuing to experience an active growth pattern. Currently, the Company has not seen a slow down in activity levels with our customers, reflecting on recent commodity price swings, for our critical services offerings of water, power and safety," stated Matthew Flemming, CEO of HII Technologies. "The revenue increase this quarter is indicative of our ability to grow organically and be able to immediately recognize the accretive acquisition of Hamilton's frac water management business in Oklahoma."

The Company anticipates filing its Quarterly Report on Form 10-Q for the period ended September 30, 2014 and announcing earnings and related financial results for the period by November 15, 2014.

About HII Technologies, Inc.

HII Technologies, Inc. is a Houston, Texas based oilfield services company with operations in Texas, Oklahoma, Ohio and West Virginia. By focusing on the critical service areas of Water, Safety and Power, the Company is positioned to take advantage of the significant anticipated growth in horizontal drilling and hydraulic fracturing within the United States' active shale and unconventional "tight oil" plays. The Company's frac water management division does business as AquaTex, Hamilton and AES Water Solutions, its onsite oilfield contract safety consultancy does business as AES Safety Services, and its mobile oilfield power subsidiary does business as South Texas Power (STP). The holding company, HII Technologies' objective is to bring proven technologies to these operating divisions to build a long-term competitive advantage for its stakeholders. Read more at www.HIITinc.com, www.AquaTexUSA.com, www.AESWaterSolutions.com, www.AESSafetyServices.com and www.Oilfield-Generators.com.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements as to matters that are not of historic fact are forward-looking statements. These forward-looking statements are based on HII's current expectations, estimates and projections about HII, its industry, its management's beliefs and certain assumptions made by management, and include statements regarding estimated capital expenditures, future operational and activity expectations, international growth, and anticipated financial performance in 2014. No assurance can be given that such expectations, estimates or projections will prove to have been correct. Whenever possible, these "forward-looking statements" are identified by words such as "expects," "believes," "anticipates" and similar phrases.

Readers are cautioned that any such forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict, including, but not limited to: risks that HII will be unable to achieve its financial, capital expenditure and operational projections, including quarterly and annual projections of revenue and/or operating income and risks that HII's expectations regarding future activity levels, customer demand, and pricing stability may not materialize (whether for HII as a whole or for geographic regions and/or business segments individually); risks that fundamentals in the U.S. oil and gas markets may not yield anticipated future growth in HII's businesses, or could further deteriorate or worsen from the recent market declines, and/or that HII could experience further unexpected declines in activity and demand for its hydraulic frac related water transfer business, its safety consultancy business or its generator and related equipment rental service businesses; risks relating to HII's ability to implement technological developments and enhancements; risks relating to compliance with environmental, health and safety laws and regulations, as well as actions by governmental and regulatory authorities; risks that HII may be unable to achieve the benefits expected from acquisition and disposition transactions, and risks associated with integration of the acquired operations into HII's operations; risks, in responding to changing or declining market conditions, that HII may not be able to reduce, and could even experience increases in, the costs of labor, fuel, equipment and supplies employed and used in HII's businesses; risks relating to changes in the demand for or the price of oil and natural gas; risks that HII may not be able to execute its capital expenditure program and/or that any such capital expenditure investments, if made, will not generate adequate returns; and other risks affecting HII's ability to maintain or improve operations, including its ability to maintain prices for services under market pricing pressures, weather risks, and the impact of potential increases in general and administrative expenses.

Because such statements involve risks and uncertainties, many of which are outside of HII's control, HII's actual results and performance may differ materially from the results expressed or implied by such forward-looking statements. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Other important risk factors that may affect HII's business, results of operations and financial position are discussed in its most recently filed Annual Report on Form 10-K, recent Quarterly Reports on Form 10-Q, recent Current Reports on Form 8-K and in other Securities and Exchange Commission filings. Unless otherwise required by law, HII also disclaims any obligation to update its view of any such risks or uncertainties or to announce publicly the result of any revisions to the forward-looking statements made here. However, readers should review carefully reports and documents that HII files periodically with the Securities and Exchange Commission.

Investor Relations Contact

Derek Gradwell
MZ Group North America
Phone: 512-270-6990
Email: dgradwell@mzgroup.us
Web: www.mzgroup.us

Source: HII Technologies, Inc.

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