THT Heat Transfer Technology, Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Provides Revenue Guidance for the Second Quarter of 2015
THT Heat Transfer Technology, Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported sales revenue of $8,174,000 against $8,289,000 a year ago. Operating income was $1,080,000 against $669,000 a year ago. Income before income taxes was $1,074,000 against $566,000 a year ago. Net income was $914,000 or $0.04 basic and diluted per share against $481,000 or $0.02 basic and diluted per share a year ago. Net cash used in operating activities was $692,000 against $1,903,000 a year ago. The increase was due to the cumulative effect of the foregoing factors. The increase was mainly due to a decrease in its total expenses. The decrease in sales revenue was primarily attributable to lower sales revenue from plate heat exchangers and shell-and-tube heat exchangers.
The company expects to generate sales revenue in the range of $9 million to $12 million in the second quarter of 2015, compared with $12.7 million in the same period of 2014.