Energy Recovery (ERII) Misses Q1 EPS by 12c

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Go back to Energy Recovery (ERII) Misses Q1 EPS by 12c

Energy Recovery Reports Unaudited Financial Results for the First Quarter of 2015

May 7, 2015 5:14 PM EDT

FIRST QUARTER HIGHLIGHTS:

Total revenue increased by 50% to $5.9 million in the current period, from $3.9 million in the first quarter of 2014 Gross profit margin was 57% in the current period, compared to 58% in the first quarter of 2014, as a result of lower production levels offset by a favorable shift in mix Operating expenses increased by $5.4 million, or 91%, from $6.0 million in the first quarter of 2014 to $11.4 million in the current period primarily due to non-recurring legal and CEO transition expenses and to a lesser extent, higher research & development expenses Net loss of $(8.3) million,... More