LiqTech International (LIQT) Reports Q1 Revenues Above Estimates

LiqTech International (NYSE: LIQT) reported Q1 EPS of $, versus ($0.03) reported last year. Revenue for the quarter came in at $2.4 million versus the consensus estimate of $1.8 million.

Financial highlights for the three months ended March 31, 2018

• Net sales for the three months ended March 31, 2018 were $2.4 million compared to $3.0 million for the same period in 2017, representing a decrease of $0.6 million or 20%.
• The decrease in sales consisted of a decrease in sales of liquid filters and systems of $0.2 million and a decrease in sales of DPFs of $0.4 million.
• Gross profit for the three months ended March 31, 2018 was $(0.1) million compared to a gross profit of $0.3 million for the same period in 2017, representing a decrease of $0.4 million.
• Included in gross profit is depreciation of $0.2 million and $0.3 million for the three months ended March 31, 2018 and 2017, respectively.
• Total operating expenses for the three months ended March 31, 2018 were $1.3 million, representing an increase of $0.06 million, or 4.7%, compared to $1.3 million for the same period in 2017.
• Net loss for the three months ended March 31, 2018 was $1.5 million compared to a loss of $0.8 million for the comparable period in 2017, representing an increased loss of $0.7 million.
• Cash on hand and restricted cash for the period ended March 31, 2018 was $0.8 million compared to $2.5 million for the year ended December 31, 2017, representing a decrease of $1.7 million.
• Working capital for the period ended March 31, 2018 was $3.5 million compared to $4.7 million for the year ended December 31, 2017, representing a decrease of $1.2 million.

For earnings history and earnings-related data on LiqTech International (LIQT) click here.

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