Clean Diesel Technologies, Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2018; Provides Revenue Guidance for the Year 2018
August 14, 2018 at 04:05 pm EDT
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Clean Diesel Technologies, Inc. announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2018. For the quarter, the company reported revenues of $2,433,000 compared with $3,556,000 a year ago. Loss from operations was $1,154,000 compared with $932,000 a year ago. Loss from operations before income taxes was $767,000 compared with $811,000 a year ago. Net loss from continuing operations was $1,471,000 or $0.09 per basic and diluted share compared with $980,000 or $0.05 per basic and diluted share a year ago. Net loss was $1,952,000 or $0.12 per basic and diluted share compared with $385,000 or $0.01 per basic and diluted share a year ago.
For the six months, the company reported revenues of $4,630,000 compared with $7,405,000 a year ago. Loss from operations was $2,250,000 compared with $4,147,000 a year ago. Loss from operations before income taxes was $1,594,000 compared with $4,782,000 a year ago. Net loss from continuing operations was $2,335,000 or $0.15 per basic and diluted share compared with $4,950,000 or $0.32 per basic and diluted share a year ago. Net loss was $2,246,000 or $0.14 per basic and diluted share compared with $3,481,000 or $0.22 per basic and diluted share a year ago.
The company currently expects 2018 revenue of approximately $12 million. With the implementation of local partnerships in China and India the company believes that a growing pipeline of customers will begin to generate material revenue beginning in 2018 and accelerating into 2019.
CDTi Advanced Materials, Inc. develops technology and materials for catalyst markets, including emissions, industrial and electrocatalyst applications. The Company is engaged in the catalyst design, engineering, and coating for on and off-road as well as energy storage applications. It develops technology and materials incorporating various base metals that can enhance catalytic performance and reduce the use of platinum group metals (PGMs) in catalyst coatings. It offers complete solutions for heavy and light duty engines, fuel treatment and materials technologies. Its products include exhaust control systems, fuel borne catalyst and catalyst products. Exhaust control systems includes Purifilter, Purifilter Plus M, AZ DOC, DZ DOC, and others. Its fuel borne catalyst include PatFluid, Platinum Plus, and others. The Company delivers its technology to customers through catalyst coatings as well as catalytic material supply and licensing arrangements.
Clean Diesel Technologies, Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2018; Provides Revenue Guidance for the Year 2018