Flemington, NJ, November 9, 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 third fiscal quarter ended September 30, 2017.
For the three months ended September 30, 2017, HCCC generated revenue of $1,338,571 and a net loss of $52,446 or ($0.01) in earnings per share. For the nine months ended September 30, 2017, HCCC generated revenue of $5,136,074 and net income of $98,912 or $0.01 in earnings per share, fully diluted.
Andrew Hidalgo, CEO of HCCC, commented, “We are pleased to be profitable year-to-date through nine months. We experienced some project completion delays in the third quarter, however, our Australian operation was profitable and they are positioned nicely for the fourth quarter with approximately $962,000 of backlog yet to be invoiced. In addition, we have $5.9 million in active bids. From a balance sheet perspective, HCCC is healthy with over $400,000 in cash and assets of approximately $1.4 million. We look forward to a strong finish for FY2017.”
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, HCCC also provides security systems integration. HCCC 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.