Originclear, Inc. Reports Earnings Results for the Third Quarter Ended September 30, 2020
November 24, 2020 at 03:48 am IST
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OriginClear, Inc. announced earnings results for the third quarter ended September 30, 2020. For the third quarter, the company announced sales was USD 917,320 compared to USD 939,468 a year ago. Operating loss was USD 1.183 million compared to USD 964,655 a year ago. Net income was USD 5.018 million compared to net loss of USD 1.220 million a year ago. Basic earnings per share from continuing operations was USD 0.27 compared to basic loss per share from continuing operations of USD 0.54 a year ago. Diluted earnings per share from continuing operations was USD 0.03 compared to diluted loss per share from continuing operations of USD 0.03 a year ago. For the nine months, sales was USD 3.064 million compared to USD 2.696 million a year ago. Operating loss was USD 2.682 million compared to USD 2.836 million a year ago. Net income was USD 20.344 million compared to net loss of USD 8.318 million a year ago. Basic earnings per share from continuing operations was USD 1.75 compared to basic loss per share from continuing operations of USD 5.11 a year ago. Diluted earnings per share from continuing operations was USD 0.15 compared to diluted loss per share from continuing operations of USD 5.11 a year ago.
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. 
