OriginClear Texas Unit More Than Doubles Revenue from Q2 to Q3
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.
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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