Business
CLPS Incorporation Reports Financial Results for the Second Half and Full Year of Fiscal 2020
HONG KONG, Oct. 22, 2020 /PRNewswire/ -- CLPS Incorporation (the "Company" or "CLPS") (Nasdaq: CLPS), today announced its financial results for the six months
About this update from Clps Incorporation
[{"type":"text","content":"HONG KONG, Oct. 22, 2020 /PRNewswire/ -- CLPS Incorporation (the \"Company\" or \"CLPS\") (Nasdaq: CLPS), today announced its financial results for the six months ended June 30, 2020 and full year of fiscal year 2020.\nSecond Half of Fiscal 2020 Highlights (all results compared to the six months ended June 30, 2019) \nRevenues increased by 37.2% to $46.8 million from $34.1 million. Gross profit increased by 25.1% to $15.7 million from $12.6 million. Net income attributable to CLPS Incorporation's shareholders was $0.6 million, or $0.04 basic and diluted earnings per share, compared to net loss attributable to CLPS Incorporation's shareholders of $1.8 million, or $0.13 basic and diluted losses per share. Non-GAAP net income attributable to CLPS Incorporation's shareholders1 increased by 200.9% to $3.5 million, or $0.23 basic and diluted earnings per share, compared to $1.2 million, or $0.08 basic and diluted earnings per share (See Use of Non-GAAP Financial Measures below for a discussion of such measures as used in this press release).Fiscal Year 2020 Highlights (all results compared to the twelve months ended June 30, 2019) \nRevenues increased by 37.7% to $89.4 million from $64.9 million. Gross profit increased by 31.0% to $31.1 million from $23.8 million. Net income attributable to CLPS Incorporation's shareholders was $2.9 million, or $0.20 basic and diluted earnings per share, compared to net loss attributable to CLPS Incorporation's shareholders of $3.3 million, or $0.24 basic and diluted losses per share. Non-GAAP net income attributable to CLPS Incorporation's shareholders1 increased by 85.3% to $6.9 million, or $0.47 basic and diluted earnings per share, compared to $3.7 million, or $0.27 basic and 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, \"As the disruption from the COVID-19 pandemic persists, the health and safety of our employees and their families, as well as our customers and business partners, have been and will continue to be our top priority. Despite the current circumstances, we are pleased to see stable growth in the second half and full year of fiscal 2020 in both our international and local markets. This year, we acquired Ridik to further...