Hongli Clean Energy Technologies Corp. Reports Consolidated Earnings Results for the Fourth Quarter and Year Ended June 30, 2015
For the year, revenue was $45,613,084 against $50,267,693 a year ago. Loss from operations was $3,099,450 against income from operations of $6,715,337 a year ago. Loss before income taxes was $1,417,909 against income before income taxes of $2,842,064 a year ago. Net loss was $3,463,774 or $0.15 per basic and diluted share against $990,582 or $0.05 per basic and diluted share a year ago. Net cash provided by operating activities was $530,514 against net cash used in operating activities of $648,578 a year ago. For the twelve months ended June 30, 2015, total revenue decreased by $4.7 million, or 9.3%, as a result of decreases in sales of coke and coal products and partially offset by sales of syngas which started to generate revenue from the second quarter of fiscal year 2015.