OriginClear Inc. Provides Earnings Guidance for the Year 2016
March 20, 2017 at 06:31 pm EDT
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OriginClear Inc. provided earnings guidance for the year 2016. The company's top line revenue is expected to exceed $5 million for 2016, an increase of over 425% from 2015. Gross profits are expected to exceed $1.4 million in 2016, a more than 1,100% increase year over year. In its annual report, the company expects to show continued reductions in operating losses, as a result of the increased revenue and continued savings at the corporate level.
OriginClear, Inc. is a water technology company. The Company is engaged in designing, engineering, manufacturing and distribution of water treatment solutions for commercial, industrial, and municipal end markets. The Company conducts business, through its subsidiary, Water on Demand, Inc. (WODI). WODI is composed of three operating units, Modular Water Systems (MWS), Progressive Water Treatment (PWT), and Water on Demand (WOD). MWS houses a worldwide, exclusive master license to the intellectual property, consisting of five patents and related intellectual property, know-how and trade secrets (Early IP). PWT specializes in engineered water treatment solutions and custom treatment systems. WOD is an incubation of the Company which is focused on offering private businesses water self-sustainability as a service-the ability to pay for water treatment and purification services on a per-gallon basis. In addition, PWT rents equipment in contracts of varying duration.