Flemington, NJ, April 2, 2018 (GLOBE NEWSWIRE) — H/Cell Energy Corporation (OTCQB-HCCC) (“HCCC”), a company that designs and implements clean energy solutions featuring hydrogen energy systems, has announced financial results for its fiscal year ended December 31, 2017. For the twelve months ended December 31, 2017, HCCC generated revenue of $6,352,886 and net income of $8,897 or $0.00 in earnings per share, fully diluted. This compares to revenue of $5,007,103 and a net loss of $706,727, or ($0.25) in earnings per share, fully diluted, for the prior year ended December 31, 2016.
Andrew Hidalgo, CEO of HCCC, commented, “We are very pleased to post a profitable year in FY2017, especially as a young company. In addition, we had a substantial gain in revenue and earnings year over year. Our subsidiaries are performing well and we are establishing cost efficiencies as we assimilate each acquisition. As of December 31, 2017, our backlog of orders stood at $1,091,816 and our bid list totaled $7,100,030 which although does not represent orders, is a sign of future potential. We also believe that our financial condition is solid, with $455,700 in cash, $1,485,496 in assets and $420,550 in working capital as of December 31, 2017. We have a very bright future in clean energy with a market full of opportunities. We believe our hydrogen energy systems will become a primary energy source for electric power in both the residential and commercial sectors. HCCC remains focused on clean energy for a better environment.”
About H/Cell Energy Corporation:
H/Cell Energy Corporation is an integrator that focuses on the design and implementation of clean energy solutions including solar, battery, fuel cell and hydrogen generation systems. In addition, through its subsidiaries, HCCC also provides environmental systems and security systems integration. HCCC serves the residential, commercial and government sectors. Please visit our website at www.hcellenergy.com for more information.
Forward Looking Statements:
Certain statements in this press release are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of forward-looking words such as “anticipate,” “believe,” “forecast,” “estimate,” “expect,” and “intend,” among others. These forward-looking statements are based on current expectations and actual results could differ materially. H/Cell Energy Corporation does not undertake an obligation to update or revise any forward-looking statement. The information set forth herein speaks only as of the date hereof.