Ecosphere Technologies, Inc. Announces Unaudited Consolidated Financial Results for the First Quarter Ended March 31, 2012; Reaffirms Earnings Guidance for the Year of 2012
May 08, 2012 at 01:32 am IST
Ecosphere Technologies, Inc. announced unaudited consolidated financial results for the first quarter ended March 31, 2012. For the quarter, the company reported total revenues of $8,360,795 against $2,227,641 a year ago. Income from operations was $1,038,660 against loss from operations $3,330,208 a year ago. Net income applicable to common stock was $364,786 or $0.00 per basic and diluted share against net loss applicable to common stock of $3,799,662 or $0.03 per basic and diluted share a year ago. Net cash provided by operating activities was $1,105,583 against net cash used in operating activities of $1,223,917 a year ago. Purchase of property and equipment was $14,115 against $90,687 a year ago.
The company remains positive in its outlook for 2012, and is reaffirming its previously issued guidance for the year.