Cleantech Innovations, Inc. (CTEK) Misses Q1 EPS by 3c, Miss on Revenues

Cleantech Innovations, Inc. (NYSE: CTEK) reported Q1 EPS of $0.06, $0.03 worse than the analyst estimate of $0.09. Revenue for the quarter came in at $16.4 million versus the consensus estimate of $17.52 million.

Financial highlights for the first quarter 2018 include:

• Revenues for the first quarter were $16.4 million, a decrease of 10 percent from $18.3 million in the first quarter of 2017.
• Gross margins for the first quarter 2018 were 25 percent compared to 25 percent for the same period in 2017.
• GAAP net loss for the first quarter was $(0.7) million, or $(0.07) per basic and diluted share compared to net income of $0.01 million, or $0.00 per basic and diluted share in the same period of 2017.
• Non-GAAP adjusted EBITDA and Non-GAAP adjusted earnings exclude non-recurring charges related to our recent debt refinancing and the departure of a senior executive, totaling $0.7 million.
• Non-GAAP adjusted EBITDA was $0.9 million in the first quarter of 2018, compared to $1.1 million for the same period in 2017.
• Non-GAAP adjusted earnings per share for the first quarter 2018 was $0.06 per basic and $0.05 per diluted share, compared to $0.07 per basic and diluted share for the same period of 2017.

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

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