Business
CLPS Incorporation Reports Financial Results for the First Half of Fiscal Year 2020
SHANGHAI, March 6, 2020 /PRNewswire/ -- CLPS Incorporation (the "Company" or "CLPS") (Nasdaq: CLPS), today announced its unaudited financial results for the
About this update from Clps Incorporation
[{"type":"text","content":"SHANGHAI, March 6, 2020 /PRNewswire/ -- CLPS Incorporation (the \"Company\" or \"CLPS\") (Nasdaq: CLPS), today announced its unaudited financial results for the six months ended December 31, 2019, or the first half of the Company's fiscal year 2020.\nFirst Half of Fiscal 2020 Highlights (all results compared to the six months ended December 31, 2018) \nRevenues increased by 38.2% to $42.6 million from $30.8 million. Gross profit increased by 37.7% to $15.4 million from $11.2 million. Gross margin remained relatively flat at 36% compared to the prior year period. Net income attributable to CLPS Incorporation's shareholders was $2.4 million, or $0.17 basic and diluted earnings per share, compared to net loss attributable to CLPS Incorporation's shareholders of $1.4 million, or $0.10 basic and diluted losses per share. Non-GAAP net income attributable to CLPS Incorporation's shareholders[1] increased by 33.1% to $3.4 million, or $0.24 basic and diluted earnings per share, compared to $2.6 million, or $0.19 basic earnings per share and $0.18 diluted earnings per share (See Use of Non-GAAP Financial Measures below for a discussion of such measures as used in this press release).Mr. Raymond Lin, Co-Founder and Chief Executive Officer of CLPS, commented, \"With strong demand for global financial IT services and solutions, CLPS was able to continue the implementation of its global expansion strategy and make further improvements in its business. Our highly effective IT services and solutions were able to deliver on demand, and new technologies such as micro services, robotic process automation (RPA) applications, and big data lowered operational costs. We also provided professional training in management and technical subjects in order to improve the overall capabilities of our staff and to attract more talent.\"\n\"For the remainder of the fiscal year, CLPS will continue to expand globally, proactively acquire and service more international clients, especially those in the U.S., and continue to grow our acquired businesses. At the same time, we will launch comprehensive services related to our advantages in the credit card industry. We will also ensure sustainable and high quality growth for CLPS, and create long-term value for shareholders.\"\nMs. Rui Yang, acting Chief Financial Officer of CLPS, commented, \"During the first six mont...