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OriginClear's Texas Unit Revenue Accelerates with Industry's Positive Outlook
OriginClear's Texas Unit Revenue Accelerates with Industry's Positive Outlook.
About this update from Originclear, Inc.
[{"type":"text","content":"\n\n\n\nOriginClear's Texas Unit Revenue Accelerates with Industry's Positive Outlook\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nOriginClear's Texas Unit Revenue Accelerates with Industry's Positive Outlook\nAfter doubling from Q2 to Q3, Progressive Water Treatment maintains performance in Q4\nPR Newswire\nLOS ANGELES, Feb. 23, 2018\n\n\n\nLOS ANGELES, Feb. 23, 2018 /PRNewswire/ -- OriginClear Inc. (OTC/QB: OCLN), a leading provider of water treatment solutions, today issued preliminary guidance that revenue for the six months ended December 31, 2017 for its Dallas-based subsidiary, Progressive Water Treatment (PWT), increased by over 24 percent as compared to the six months ended December 31, 2016 with an increase in gross profit of 13 percent during the same period.\n\n\n \n \n\n \nWith open purchase orders totaling more than $1.5 million so far this quarter, the company believes that the acceleration is continuing, as PWT received commitments for a full quarter's business while only halfway through it. However, such purchase orders do not represent final orders.\n\nCEO Riggs Eckelberry discussed the preliminary guidance in a sponsored appearance on MoneyTV: https://www.originclear.com/video/originclear-subsidiary-accelerates \n\nThe company believes that the 2016 U.S. Presidential election created uncertainties as to funding for water treatment, regulatory burdens and the health of the economy. Prior to the election, PWT found that many customers were putting their water treatment projects on hold. Even after the post-election period, the outlook remained uncertain; and it was not until mid-2017 that orders picked up.\n\nThe turnaround for PWT showed up in the third quarter of 2017, with revenue more than doubling over the second quarter of 2017. The fourth quarter of 2017 remained strong as well, delivering about 1M in revenue and bringing PWT total revenue over the last six months of 2017 to over $2M, a 24 percent increase over the same period in 2016. Also, the gross profit for the last six months of 2017 was approximately $460K, a 13 percent increase over the...