Company’s initial guidance ahead of quarterly filings indicates revenues on growth trend
Los Angeles, CA – October 31, 2017 – OriginClear Inc. (OTC/QB: OCLN), a leading provider of water treatment solutions, today issued preliminary guidance that its Dallas-based subsidiary, Progressive Water Treatment (PWT) more than doubled its revenue from the second to the third quarter.
Subject to final adjustments, revenue for the third quarter was $1,139,588, a 128 percent increase over the second quarter of 2017, and a 22 percent gain over the same quarter last year. While substantially up over the previous quarter, gross profits were $202,630 in the third quarter of 2017 versus $363,680 for the same quarter in 2016.
“I’m very pleased with the substantial increase in PWT’s business,” said Bill Charneski, President of the OriginClear Group, which makes acquisitions and manages them. “I congratulate each and every employee of PWT for their hard work and dedication.”
OriginClear will issue final numbers, including consolidations, in the upcoming quarterly filings, due 15 November.