Uge International Ltd. Reports Earnings Results for the Third Quarter Ended September 30, 2020
November 24, 2020 at 12:19 pm
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UGE International Ltd. announced earnings results for the third quarter ended September 30, 2020. For the third quarter, the company announced sales was USD 398,796 compared to USD 496,404 a year ago. Operating loss was USD 497,834 compared to USD 694,506 a year ago. Net income was USD 583,945 compared to net loss of USD 743,427 a year ago. Basic earnings per share from continuing operations was USD 0.03 compared to basic loss per share from continuing operations of USD 0.04 a year ago. For the nine months, sales was USD 1.533 million compared to USD 3.505 million a year ago. Operating loss was USD 1.635 million compared to USD 1.484 million a year ago. Net loss was USD 617,663 compared to USD 1.697 million a year ago. Basic loss per share from continuing operations was USD 0.03 compared to USD 0.09 a year ago.
UGE International Ltd. develops, owns, and operates community and commercial solar generation and storage projects. The Company operates through three segments: EPC, Engineering services, and Energy generation. The EPC segment is engaged in building solar energy projects for third parties. It provides engineering and consulting services through the Engineering services segment. The Energy generation segment is engaged in the sale of electricity generated, and the sale of renewable energy credits. The Company's distributed energy solutions deliver cleaner energy to businesses and consumers. The Company has installed approximately 750 projects. The Company's solar projects include the Bertoline, Zerega Avenue, Abingdon, Staten Island Community, Sharp New Jersey Headquarters, Brinks Warehouse, Smithville, Bertoline, and Norway, among others.