Business
CLPS Incorporation Reports Unaudited Financial Results for the Second Half and Full Year of Fiscal Year 2019
SHANGHAI, Oct. 18, 2019 /PRNewswire/ -- CLPS Incorporation (the "Company" or "CLPS") (Nasdaq: CLPS), a leading information technology ("IT") consulting and
About this update from Clps Incorporation
[{"type":"text","content":"SHANGHAI, Oct. 18, 2019 /PRNewswire/ -- CLPS Incorporation (the \"Company\" or \"CLPS\") (Nasdaq: CLPS), a leading information technology (\"IT\") consulting and solutions service provider focusing on the banking, insurance and financial sectors in China and globally, today announced its unaudited financial results for the six months and fiscal year ended June 30, 2019.\nSecond Half of Fiscal 2019 Highlights (all results compared to the six months ended June 30, 2018) \nRevenues increased by 27.7% to $34.1 million from $26.7 million. Gross profit increased by 43.0% to $12.6 million from $8.8 million. Net loss attributable to CLPS Incorporation's shareholders of $1.8 million, or $0.13 basic and diluted loss per share, compared to net income attributable to CLPS Incorporation's shareholders of $1.1 million, or $0.10 basic and $0.09 diluted earnings per share. Non-GAAP net income attributable to CLPS Incorporation's shareholders[1] increased by 5.6% to $1.2 million, or $0.08 basic and diluted earnings per share, from $1.1 million, or $0.10 basic and $0.09 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 2019 Highlights (all results compared to the twelve months ended June 30, 2018) \nRevenues increased by 32.7% to $64.9 million from $48.9 million. Gross profit increased by 34.5% to $23.8 million from $17.7 million. Net loss attributable to CLPS Incorporation's shareholders of $3.3 million, or $0.24 basic and diluted loss per share, compared to net income attributable to CLPS Incorporation's shareholders of $2.4 million, or $0.21 basic and diluted earnings per share. Non-GAAP net income attributable to CLPS Incorporation's shareholders[1] increased by 53.9% to $3.7 million, or $0.27 basic and diluted earnings per share, from $2.4 million, or $0.21 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, Chief Executive Officer of CLPS, commented, \"During the second half of our 2019 fiscal year, we continued to grow revenues by double digits, resulting in full year sales growth of 32.7%, which was in line with our expectations. Our non-GAAP net income for the fiscal year grew by 32.0%, which was also in line with our expectati...