Market Overview

Hebron Technology Co., Ltd. Reports Fiscal Year 2018 Financial Results

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WENZHOU, China, May 15, 2019 /PRNewswire/ -- Hebron Technology Co., Ltd. ("Hebron" or the "Company") (NASDAQ:HEBT), a developer, manufacturer and installer of valves and pipe fittings for use in the pharmaceutical, biological, food and beverage, and other clean industries, today announced its financial results for the fiscal year ended December 31, 2018. 

Fiscal Year 2018 Financial Highlights



Year ended December 31,



Changes




2018



2017



($)



(%)


Revenue


$

25,290,060



$

29,200,445




(3,910,385)




(13)

%

Installation service



17,297,212




23,748,141




(6,450,929)




(27)

%

Fluid equipment sales



7,992,848




5,452,304




2,540,544




47

%


















Gross profit



7,577,952




10,444,161




(2,866,209)




(27)

%

(Loss) Income from operations



(5,329,410)




3,877,317




(9,206,727)




(238)

%

Net income



(5,144,715)




7,136,387




(12,281,102)




(172)

%

Basic and diluted EPS


$

(0.33)



$

0.49




(0.82)




(167)

%

 

  • Total revenues decreased by 13.0% to $25.29 million for the twelve months ended December 31, 2018.
  • Operating (loss) income decreased 237.5% to operation loss of $5.3 million for the twelve months ended December 31, 2018 from operation income of $4.07 million for the same period of the prior fiscal year, primarily due to bad debt provision of $7.9 million for the twelve months ended December 31, 2018.
  • Net loss was $5.14 million, for the twelve months ended December 31, 2018, compared to net income of $7.14 million for the same period of the prior fiscal year.

 

<





Years ended December 31,



Changes



Changes




2018



%



2017



%



($)



(%)


Installation service



6,356,004




37

%


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