Hudson Technologies Inc. (HDSN) Tops Q1 EPS by 2c

Hudson Technologies Inc. (NASDAQ: HDSN) reported Q1 EPS of $0.01, $0.02 better than the analyst estimate of ($0.01). Revenue for the quarter came in at $15.6 million versus the consensus estimate of $13.58 million.

Kevin J. Zugibe, Chairman and Chief Executive Officer of Hudson Technologies commented, “As expected, we saw a decrease in revenue for the quarter as compared to last year due to the approximately 50% decline in the price of R-22 during 2013 following the issuance of the EPA’s disappointing final rule last April, which increased R-22 allowances for 2013 and 2014. Nonetheless, we stayed focused on serving the needs of existing and new customers and, despite some challenging weather in the first quarter of 2014, drove increased volumes during the quarter as well as an increase in service revenues compared to last year. We look forward to the EPA’s final rule for the 2015 through 2020 time period and believe the EPA’s return to a step down approach to the phase out of virgin production of R-22 will provide certainty in the market and a foundation for the growth in reclamation.”

For earnings history and earnings-related data on Hudson Technologies Inc. (HDSN) click here.

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