Environmental Solutions Worldwide Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014
November 14, 2014 at 03:45 pm
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Environmental Solutions Worldwide Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported revenue of $5,240,626 against $5,497,125 a year ago. Income from operations was $607,392 against $955,643 a year ago. Net loss before provision for income taxes was $1,029,395 against net income before provision for income taxes of $3,729,230 a year ago. Basic and diluted net loss per share was $7.40 against basic and diluted net earnings per share of $32.87 a year ago.
For the nine months, the company reported revenue of $20,276,171 against $10,242,470 a year ago. Income from operations was $4,668,624 against loss from operations of $2,462,854 a year ago. Net profit before provision for income taxes was $834,536 against net loss before provision for income taxes of $853,222 a year ago. Diluted net earnings per share were $6.02 against basic and diluted net loss per share of $7.55 a year ago. Net cash generated from operating activities was $5,018,717 against net cash used in operating activities of $1,688,815 a year ago. Acquisition of property, plant and equipment was $142,829 against $349,176 a year ago. Additions to property, plant and equipment under construction was $437,387 against $288,231 a year ago. EBITDA was $5,201,847 against LBITDA of $59,166 a year ago.
Environmental Solutions Worldwide, Inc. manufactures and markets a diverse line of catalytic emission conversion, emission control and emission support products and technologies for the transportation, construction, rail, marine, utility and other markets. These products are primarily designed for diesel engine applications, including medium and heavy-duty trucks, school buses, delivery vehicles, and garbage collection vehicles. In addition to land vehicles, its technology is used in marine engines. The Company sells its emission control products through a network of approximately 30 dealerships located throughout the United States, which is complemented by a team of seasoned emissions focused business development professionals, engineers and field technicians. It offers on-road diesel particulate filter (DPF) solutions, including ThermaCat-e DPF, LongMile-S DPF, Horizon DPF, Longview DPF and Vista DPF. Its off-road DPF products include ThermaCat DPF, Phoenix DPF and Skyline DPF.