The company's net sales for the full year ended September 30, 2008 were approximately $40.94 million, a 120.7% increase from net revenue of approximately $18.55 million for the 12 months ended September 30, 2007. Gross profit was $15.35 million, an increase of 61.1% from $9.53 million for the fiscal year ended September 30, 2007. In the fourth quarter of fiscal year 2008, the company has reported a net income of $6.88 million, an increase of 411.4%, compared to $1.35 million in the same period of 2007. Net sales increased 99.5% to $14.2 million, compared to $7.08 million in the fourth quarter of fiscal year 2007. The company has reported a gross profit of $3.8 million in the fourth quarter of fiscal year 2008, an increase of 5.8%, compared to the same period of 2007. Bo Huang, CEO of Sinoenergy, said: "We are pleased to report another successful year for Sinoenergy in which we implemented our strategic plan for growth and diversification while generating positive financial results."