Flemington, NJ, August 15, 2017 (GLOBE NEWSWIRE) — H/Cell Energy Corporation (OTCQB-HCCC) (“HCCC”), a company that designs and implements clean energy solutions featuring hydrogen energy systems, has announced financial results for its second fiscal quarter ended June 30, 2017. For the three months ended June 30, 2017, HCCC generated revenue of $1,930,658 and net income of $207,482 or $0.03 earnings per share, fully diluted. For the six months ended June 30, 2017, HCCC generated revenue of $3,797,503 and net income of $151,358 or $0.02 earnings per shares, fully diluted.
Andrew Hidalgo, CEO of HCCC, commented, “We are pleased to announce a very successful quarter, which included record revenue and earnings. In addition, our balance sheet net tangible asset value increased 38% from $492,278 on December 31, 2016 to $681,509 on June 30, 2017. As of June 30, 2017, HCCC had a backlog of project work to be completed of approximately $827,000 and an active bid list of potential projects of approximately $5.2 million. As we build shareholder value, HCCC will continue to focus on organic growth as well as seeking strategic acquisition candidates that can expand our geographic scope, add technical resources and increase the size of our customer base.”
About H/Cell Energy Corporation:
H/Cell Energy Corporation is a systems integrator that focuses on the design and implementation of clean energy solutions including solar, battery technology and hydrogen energy systems. In addition, through its Pride Group subsidiary based in Australia, the company also provides security systems integration. The company serves the residential, commercial and government sectors. Please visit our website at www.hcellenergy.com for more information.
Forward Looking Statements:
Certain statements in this press release are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of forward-looking words such as “anticipate,” “believe,” “forecast,” “estimate,” “expect,” and “intend,” among others. These forward-looking statements are based on current expectations and actual results could differ materially. H/Cell Energy Corporation does not undertake an obligation to update or revise any forward-looking statement. The information set forth herein speaks only as of the date hereof.