Cleantech Innovations, Inc. (CTEK) Tops Q4 EPS by 13c,, Beats on Revenues

Note: EPS may not be comparable

Cleantech Innovations, Inc. (NYSE: CTEK) reported Q4 EPS of $0.21, $0.13 better than the analyst estimate of $0.08. Revenue for the quarter came in at $18.7 million versus the consensus estimate of $17.72 million.

Financial highlights for the fourth quarter and full year of 2017 include:

• Revenues for the fourth quarter were $18.7 million, an increase of 15 percent from $16.2 million in the fourth quarter of 2016. Revenues for the full year 2017 were $71.6 million, an increase of 19 percent from $60.2 million for the same period in 2016.
• Gross Margins for the fourth quarter 2017 were 31 percent of revenue compared to 23 percent of revenue for the same period in 2016. Gross Margins for the full year 2017 were 29 percent compared to 20 percent of revenue for the same period in 2016.
• GAAP net loss for the fourth quarter was $(1.6) million, or $(0.17) per basic and diluted share compared to net income of $3.8 million, or $0.47 per basic and $0.46 per diluted share in the same period of 2016. GAAP net loss for the full year 2017 was $(0.4) million, or $(0.05) per basic and diluted share compared to net income of $5.0 million, or $0.61 per basic and $0.60 per diluted share in the same period of 2016.
• Non-GAAP adjusted EBITDA was $2.5 million in the fourth quarter of 2017, compared to $1.5 million for the same period in 2016. Non-GAAP adjusted EBITDA was $7.8 million for the full year 2017, compared to $3.6 million for the same period in 2016.
• Non-GAAP adjusted earnings per share for the fourth quarter 2017 was $0.21 per basic and diluted share compared to $0.18 per basic and $0.17 per diluted share for the same period of 2016. Non-GAAP adjusted earnings per share for the full year 2017 was $0.64 per basic share and $0.63 per diluted share compared to $0.41 per basic share and $0.40 per diluted share for the same period of 2016.

For earnings history and earnings-related data on Cleantech Innovations, Inc. (CTEK) click here.

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