OriginClear Inc. Announces Preliminary Guidance for the Third Quarter 2017
November 02, 2017 at 02:58 am IST
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OriginClear Inc. announced preliminary guidance that its Dallas-based subsidiary, Progressive Water Treatment (PWT) more than doubled its revenue from the second to the third quarter. Subject to final adjustments, revenue for the third quarter was $1,139,588, a 128% increase over the second quarter of 2017, and a 22% gain over the same quarter last year. While substantially up over the previous quarter, gross profits were $202,630 in the third quarter of 2017 versus $363,680 for the same quarter in 2016.
OriginClear, Inc. is a water technology company. The Company is engaged in designing, engineering, manufacturing and distribution of water treatment solutions for commercial, industrial, and municipal end markets. The Company conducts business, through its subsidiary, Water on Demand, Inc. (WODI). WODI is composed of three operating units, Modular Water Systems (MWS), Progressive Water Treatment (PWT), and Water on Demand (WOD). MWS houses a worldwide, exclusive master license to the intellectual property, consisting of five patents and related intellectual property, know-how and trade secrets (Early IP). PWT specializes in engineered water treatment solutions and custom treatment systems. WOD is an incubation of the Company which is focused on offering private businesses water self-sustainability as a service-the ability to pay for water treatment and purification services on a per-gallon basis. In addition, PWT rents equipment in contracts of varying duration.
ORIGINCLEAR, INC. 
