AquaVenture Holdings Limited Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2017; Reaffirms Earnings Guidance for the Year 2017
AquaVenture Holdings Limited reported unaudited consolidated earnings results for the first quarter ended March 31, 2017. For the quarter, the company reported total revenues of $29,008,000 compared to $27,129,000 a year ago. Loss from operations was $3,194,000 compared to $734,000 a year ago. Loss before income tax expense was $5,191,000 compared to $3,360,000 a year ago. Net loss was $6,126,000 or $0.23 per basic and diluted share compared to $3,988,000 a year ago. Net cash provided by operating activities was $5,300,000 compared to $5,450,000 a year ago. Capital expenditures were $3,153,000 compared to $5,447,000 a year ago. Adjusted EBITDA was $8,529,000 compared to $7,986,000 a year ago.
For the full year 2017, the company reaffirms that it expects to achieve revenues between $127 million and $132 million, of which approximately 8% is expected to be inorganic (including the operations in Peru); adjusted EBITDA between $37 and $41 million. Revenues and adjusted EBITDA increases are expected to include growth from both organic and inorganic components, with the inorganic increases weighted more heavily towards the second half of 2017.