OriginClear, Inc. Confirms In Its 2016 Annual Report Revenue Growth Of Over 430% And Gross Profit Increase Of Over 1,200%
Revenue growth and cost management reduced 2016 operating losses by nearly 50% over 2015
OriginClear’s consolidated revenue was $5,071,095 for 2016, a 431% increase from 2015. Gross Profits rose to $1,481,930 in 2016, an increase of 1,216% year over year.
“OriginClear is well on its way to accomplishing its long-term goals,” said Riggs Eckelberry, OriginClear CEO. “Our first acquisition has performed with stability and high customer satisfaction, while the technology division is making steady progress. We expect both areas to continue to expand in 2017.”
In 2016, the Company continued to strategically reduce corporate overhead and operating costs. Operating losses were cut nearly in half, from $6,966,557 in 2015 to $3,589,714 in 2016.
OriginClear Technologies made substantial progress in 2016, creating new licensees and joint venture partners for its breakthrough Electro Water Separation™ (EWS) technology. Revenue attributed to the technology activity grew from $180,771 to $276,458, a 53% increase over 2015.
Safe Harbor Statement:
Matters discussed in this release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein, and while expected, there is no guarantee that we will attain the aforementioned anticipated developmental milestones. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in reports filed by the Company.
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