Highpower International (HPJ) Reports Q3 EPS of $0.39 on Revenues of $90.6M

Highpower International (NASDAQ: HPJ) reported Q3 EPS of $0.39. Revenue for the quarter came in at $90.6 million.

Mr. George Pan, Chairman and CEO of Highpower International, commented, "During the third quarter of 2018, we once again achieved net sales growth that surpassed our guidance thanks to healthy growth in both our lithium ion and Ni-MH battery businesses. New and existing customers in the high-end consumer product, industrial application, and artificial intelligence product industries in particular grew our lithium ion battery business. In addition, our Ni-MH battery business benefited from increased demand generated by the trend of consumer electronics providers switching from one-time-use batteries and nickel-cadmium batteries to clean re-chargeable batteries.

"The high price of raw materials in the third quarter declined slightly quarter over quarter. We were also able to improve production efficiency and scale, which helped us maintain our gross margin from the prior year period. At the same time, we are concerned about the uncertain impacts from global trade conflicts in the near future. However, we will spare no effort to execute on our strategy of producing higher quality and safer battery products and services while managing our prices, operations, and customer expectations to minimize the impact," Mr. Pan concluded.

For earnings history and earnings-related data on Highpower International (HPJ) click here.

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