OriginClear Reports Increase in First Half Revenue Compared to First Half 2019, While Continuing to Reduce Operating Losses
Gains continued in Q2 despite COVID-19 lockdown.
CLEARWATER, FLORIDA – September 2, 2020 – OriginClear Inc. (OTC: OCLN), The Water Company For The New Economy™, today announces its recent 10-Q Quarterly Report, revenue for the six months ending June 30 increased by 22% over the same period in 2019 while losses from operations for the same period narrowed by 22%.
“Going into the second quarter, we went all-out to ensure COVID-19 work restrictions didn’t impact our business,” said Riggs Eckelberry, OriginClear CEO. “It appears we succeeded.”
“Our efforts to streamline operations quite apparently are paying off,” said Tom Marchesello, OriginClear Chief Operating Officer. “We will strive to continue to drive revenues and cost efficiencies for the balance of the year.”
For the six months ended June 30, 2020, revenue increased by $390,473 (22%) to $2,147,438 compared to $1,756,965 for the same period last year. Loss from operations narrowed by $429,288 (22%) to $1,499,914 from $1,929,202 for the same period last year.
For the three months ended June 30, 2020, revenue increased by $40,078 (4%) to $1,055,000 compared to $1,014,922 for the same period last year. Loss from operations narrowed by $61,166 (8%) to $748,030 from $809,196 for the same period last year.
