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Aspen Success, Quarterly Results

Aug 22, 2019 2:52:05 AM

Good morning!

We did it!

Cedric Ceballos and Fred Martin joined me on stage at the famous AREDAY 2019 conference to present the Enough is Enough™ campaign to an enthusiastic audience!

Cedric and Fred (bios here) grew up in Compton, California and played on the same basketball team in high school. Cedric went on to be a star player for the LA Lakers and Phoenix Suns, while Fred began a brilliant music career, currently touring the famous Compton Kidz Club...

(Click Image to Expand)

The audience LOVED the presentation.

Why? because it's about local action to immediately deal with the water problems, starting with Compton and then go on to other places like Newark, New Jersey and even little-known South Bend, Indiana—which I'm told has lead levels six TIMES what we saw in Flint, Michigan!

What's next? You'll learn all about it in my CEO Briefing today at 5pm Pacific.

Quarterly Results

We posted our 2nd Quarter report on Monday. A few highlights:

  1. Sales were $1,014,922, 37% higher than Q1 of this year, but 19% lower than the same quarter last year.
  2. At the same time, Cost of Goods Sold came in 22% less than same quarter last year, reflecting progress in improving gross margins.
  3. As a result, Gross Profit at $190,873 was roughly the same for this quarter as last year's at $193,698.
  4. Overall, our Loss from Operations was ($786,131), which is 29% lower than the same quarter last year.
  5. We saw significant reductions in all categories: Selling and marketing expenses, General and administrative expenses, Research and development, and Depreciation and amortization.   

Conclusion: business improved from Q1 to Q2, while our operations are increasing in efficiency. Losses From Operations are still substantial, but narrowing.

Outlook for 2nd Half 2019: our operating divisions are reporting that the Sales Reps we signed up early this year began to send us significant business in June and onward. And our new Corporate Sales Group began generating all-new leads this month.

In short, we believe that the third and fourth quarters will continue the improvement already seen from the first to the second quarter.

I'll be discussing these results in depth on the CEO Briefing today, so... Join me on today's call!

Riggs and Team

Riggs Eckelberry
President & CEO
OriginClear, Inc. (OCLN)

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