Clean Diesel Technologies Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2015; Provides Earnings Guidance for the Fourth Quarter and Full Year 2016
March 30, 2016 at 12:05 pm
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Clean Diesel Technologies Inc. announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2015. For the quarter, the company reported revenues of $9.7 million compared to $8.7 million a year ago. Loss from continuing operations was $2.7 million compared to $3.1 million a year ago. Loss from continuing operations before income tax was $1.2 million compared to $2.6 million a year ago. Net loss from continuing operations was $0.9 million compared to $2.6 million a year ago. Net loss was $0.9 million compared to $2.7 million a year ago. Basic and diluted loss per share was $0.05 compared to $0.20 a year ago.
For the year, the company reported revenues of $39.7 million compared to $41.2 million a year ago. Loss from continuing operations was $10.3 million compared to $7.6 million a year ago. Loss from continuing operations before income tax was $8.8 million compared to $9.0 million a year ago. Net loss from continuing operations was $8.4 million compared to $9.1 million a year ago. Net loss was $8.5 million compared to $9.3 million a year ago. Basic and diluted loss per share was $0.54 compared to $0.78 a year ago.
The company provided revenue guidance for the full year 2016. For the year, the company expects revenue to be between $39 million and $43 million. The company expected gross margins to be between 27% and 29%.
For the fourth quarter of 2016, the company targeting to be break even on an income from continuing operations.
CDTi Advanced Materials, Inc. develops technology and materials for catalyst markets, including emissions, industrial and electrocatalyst applications. The Company is engaged in the catalyst design, engineering, and coating for on and off-road as well as energy storage applications. It develops technology and materials incorporating various base metals that can enhance catalytic performance and reduce the use of platinum group metals (PGMs) in catalyst coatings. It offers complete solutions for heavy and light duty engines, fuel treatment and materials technologies. Its products include exhaust control systems, fuel borne catalyst and catalyst products. Exhaust control systems includes Purifilter, Purifilter Plus M, AZ DOC, DZ DOC, and others. Its fuel borne catalyst include PatFluid, Platinum Plus, and others. The Company delivers its technology to customers through catalyst coatings as well as catalytic material supply and licensing arrangements.
Clean Diesel Technologies Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2015; Provides Earnings Guidance for the Fourth Quarter and Full Year 2016