Revenue for nine months ended September 30, 2020 increased over nine months ended September 30, 2019
Clearwater, FL – December 2, 2020 – OriginClear Inc. (OTC: OCLN), The Water Company for the New Economy™, announces that revenues and gross profits for the first nine months of 2020 outpaced the same period in 2019.
The company reported the following highlights from its recent quarterly report:
- Revenue for the nine months ended September 30, 2020 increased by 14% to $3,064,758 compared to $2,696,433 for the same period last year.
- Gross profit for the same period increased by 20% to $348,176 compared to $290,294 last year.
- Loss from operations for the same nine months ended September 30, 2020 decreased by 5% to $2,682,435 compared to $2,836,416 for the same period last year.
BroncBoost™ booster pump skids being manufactured in OriginClear's Texas facility
Texas Team Efforts
“Thanks to the hard work of our Texas-based team, we are continuing to outpace 2019,” said Riggs Eckelberry, OriginClear CEO. “Even more importantly, we saw a boost in booked orders late in the third quarter, including approximately $450,000 in jobs in progress which have not yet been recognized.”
Revenue for the three months ended 9/30/20 decreased by 2% to $917,320 compared to $939,468 for the same period last year. The three months ended September 30, 2020 showed a Gross Loss, $(17,388) vs $80,640 and Loss from operations widened to $1,183,722 from $964,655.