CLPS Incorporation Reports Financial Results for the Second Half and Full Year of Fiscal 2020
Second Half of Fiscal 2020 Highlights (all results compared to the six months ended
- Revenues increased by 37.2% to
$46.8 million from$34.1 million . - Gross profit increased by 25.1% to
$15.7 million from$12.6 million . - Net income attributable to CLPS Incorporation's shareholders was
$0.6 million , or$0.04 basic and diluted earnings per share, compared to net loss attributable to CLPS Incorporation's shareholders of$1.8 million , or$0.13 basic and diluted losses per share. - Non-GAAP net income attributable to CLPS Incorporation's shareholders1 increased by 200.9% to
$3.5 million , or$0.23 basic and diluted earnings per share, compared to$1.2 million , or$0.08 basic and diluted earnings per share (See Use of Non-GAAP Financial Measures below for a discussion of such measures as used in this press release).
Fiscal Year 2020 Highlights (all results compared to the twelve months ended
- Revenues increased by 37.7% to
$89.4 million from$64.9 million . - Gross profit increased by 31.0% to
$31.1 million from$23.8 million . - Net income attributable to CLPS Incorporation's shareholders was
$2.9 million , or$0.20 basic and diluted earnings per share, compared to net loss attributable to CLPS Incorporation's shareholders of$3.3 million , or$0.24 basic and diluted losses per share. - Non-GAAP net income attributable to CLPS Incorporation's shareholders1 increased by 85.3% to
$6.9 million , or$0.47 basic and diluted earnings per share, compared to$3.7 million , or$0.27 basic and diluted earnings per share (See Use of Non-GAAP Financial Measures below for a discussion of such measures as used in this press release).
Mr.
"Cultivating young talent has always been important to us. We are currently cooperating with
"Going forward, we will continue to expand our business and grow our market share, both internationally and locally. We hope to achieve sustainable, high-quality growth for
Ms.
Second Half and Fiscal Year 2020 Financial Results
Revenues
In the second half of fiscal 2020, revenues increased by
The number of clients increased by 53, or 30.5%, to 227 for the year ended
Revenues by Service
- Revenue from IT consulting services increased by
$13.5 million , or 42.3%, to$45.5 million and accounted for 97.2% of total revenue in the second half of fiscal 2020, up from$32.0 million , or 93.7% of total revenue, in the prior year period. For the year endedJune 30, 2020 , revenue from IT consulting services increased by$25.3 million , or 41.1%, to$87.1 million and accounted for 97.5% of total revenue, up from$61.8 million , or 95.1% of total revenue, in the prior year period. The increase was due to increased demand for the Company's IT consulting service from banks and other financial institutions, primarily from existing clients. For the twelve months endedJune 30, 2020 and 2019, 40.0% and 47.5% of IT consulting services revenue were from international banks, respectively. - Revenue from customized IT solution services decreased by
$1.0 million , or 45.4%, to$1.1 million in the second half of fiscal 2020 from$2.1 million . Revenue from customized IT solution services decreased by$1.2 million , or 39.3%, to$1.8 million for the year endedJune 30, 2020 , from$3.0 million in the same period of the previous year. The decrease was primarily due to decreasing demand from existing clients. - Revenue from other services increased to
$0.2 million in the second half of fiscal year 2020 from$0.04 million in the prior year period. Revenue from other services increased by$0.3 million , or 219.0%, to$0.4 million for the year endedJune 30, 2020 , from$0.1 million in the prior year period.
Revenues by Operational Areas
- Revenue from banking area increased by
$11.4 million , or 34.3% to$44.5 million for the year endedJune 30, 2020 , from$33.1 million in the prior year period. Revenue from banking area accounted for 49.8% and 51.2% of total revenues in fiscal 2020 and fiscal 2019, respectively. - Revenue from wealth management area increased by
$4.7 million , or 32.6% to$19.2 million for the year endedJune 30, 2020 , from$14.5 million in the prior year period. Revenue from wealth management area accounted for 21.5% and 22.4% of total revenues in fiscal 2020 and fiscal 2019, respectively. - Revenue from e-Commerce area increased by
$2.4 million , or 27.8% to$11.1 million for the year endedJune 30, 2020 , from$8.7 million in the prior year period. Revenue from e-Commerce area accounted for 12.4% and 13.4% of total revenues in fiscal 2020 and fiscal 2019, respectively. - Revenue from automotive area increased by
$1.6 million , or 77.3% to$3.6 million for the year endedJune 30, 2020 , from$2.0 million in the prior year period. Revenue from automotive area accounted for 4.1% and 3.2% of total revenues in fiscal 2020 and fiscal 2019, respectively.
Revenues by Geography
Revenue generated outside of mainland
Gross Profit and Gross Margin
Gross profit increased by
Gross profit increased by
Operating Expenses
Selling and marketing expenses increased by
Research and development expenses increased by
General and administrative expenses increased by
General and administrative expenses decreased by
Operating Income/Loss
Operating income increased by
Operating income increased by
Other Income and Expenses
Total other income, net of other expenses increased to
Total other income, net of other expenses increased to
Provision (Benefits) for Income Taxes
Provision for income taxes increased by
Provision for income taxes was
Net Income/Loss and EPS
Net income for the second half of fiscal 2020 increased by
Net income for the year ended
Cash Flow
As of
Net cash provided by operating activities was approximately
Financial Outlook
For fiscal year 2021, the Company expects, absent material acquisitions or non-recurring transactions, total sales growth in the range of approximately 30% to 35%, non-GAAP net income growth in the range of approximately 32% to 37% compared to fiscal year 2020 financial results.
This forecast reflects the Company's current and preliminary views, which are subject to change and are subject to risks and uncertainties, including, but not limited to, potential accounting adjustments attributable to
Exchange Rate
The balance sheet amounts with the exception of equity as of
Conference Call Information
The Company will hold a conference call at
|
+1-888-394-8218 |
|
+1-323-794-2588 |
Mainland |
400 120 8590 |
|
800 961 384 |
To access the live webcast of the conference call, please visit this link. The live and archived webcast will also be available through the Company's investor relations website at http://ir.clpsglobal.com.
A replay of the call will be available through
|
+1-844-512-2921 |
|
+1-412-317-6671 |
Passcode: |
1612001 |
About CLPS Incorporation
Headquartered in
Forward-Looking Statements
Certain of the statements made in this press release are "forward-looking statements" within the meaning and protections of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include statements with respect to the Company's beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates, intentions, and future performance, and involve known and unknown risks, uncertainties and other factors, which may be beyond the Company's control, and which may cause the actual results, performance, capital, ownership or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. All such statements attributable to us are expressly qualified in their entirety by this cautionary notice, including, without limitation, those risks and uncertainties related to the Company's financial and operational performance in the second half and full year of fiscal 2020, its expectations of the Company's future performance, its preliminary outlook and guidance offered in this presentation, as well as the risks and uncertainties described in the Company's most recently filed
Use of Non-GAAP Financial Measures
The unaudited condensed consolidated financial information is prepared in conformity with accounting principles generally accepted in
The presentation of these non-GAAP financial measures is not intended to be considered in isolation from, or as a substitute for, the financial information prepared and presented in accordance with
Contact:
CLPS Incorporation
Investor Relations Office
Phone: +86-182-2192-5378
Email: ir@clpsglobal.com
1 Non-GAAP net income attributable to CLPS Incorporation's shareholders is a non-GAAP financial measure, which is defined as net income attributable to the Company excluding share-based compensation expenses. Please refer to the section titled "Reconciliation of GAAP and Non-GAAP Results" for details. |
2 Non-GAAP general and administrative expenses is a non-GAAP financial measure, which is defined as general and administrative expenses excluding share-based compensation expenses. Please refer to the section titled "Reconciliation of GAAP and Non-GAAP Results" for details. |
3 Non-GAAP net income is a non-GAAP financial measure, which is defined as net income excluding share-based compensation expenses. Please refer to the section titled "Reconciliation of GAAP and Non-GAAP Results" for details. |
CLPS INCORPORATION |
|||||||||
CONSOLIDATED BALANCE SHEETS |
|||||||||
(Amounts in |
|||||||||
As of |
As of |
||||||||
2020 (Audited) |
2019 (Unaudited) |
||||||||
ASSETS |
|||||||||
Current assets |
|||||||||
Cash and cash equivalents |
$ |
12,652,120 |
$ |
11,234,260 |
|||||
Short-term investments |
636,934 |
- |
|||||||
Accounts receivable, net |
25,753,856 |
20,857,441 |
|||||||
Escrow receivable |
- |
200,000 |
|||||||
Prepayments, deposits and other assets, net |
1,280,967 |
1,998,499 |
|||||||
Prepaid income tax |
15,780 |
524,352 |
|||||||
Amounts due from related parties |
169,185 |
252,706 |
|||||||
Total Current Assets |
40,508,842 |
35,067,258 |
|||||||
Property and equipment, net |
452,472 |
471,886 |
|||||||
Intangible assets, net |
1,144,579 |
1,240,490 |
|||||||
|
2,118,700 |
2,184,001 |
|||||||
Long-term investments |
680,131 |
1,102,691 |
|||||||
Prepayments, deposits and other assets, net |
244,387 |
220,661 |
|||||||
Deferred tax assets, net |
203,247 |
251,912 |
|||||||
Total Assets |
$ |
45,352,358 |
$ |
40,538,899 |
|||||
LIABILITIES AND SHAREHOLDERS' EQUITY |
|||||||||
Current liabilities |
|||||||||
Short-term bank loans |
$ |
2,161,239 |
$ |
802,514 |
|||||
Accounts payable and other current liabilities |
489,043 |
1,006,896 |
|||||||
Tax payables |
1,426,614 |
1,178,472 |
|||||||
Contract liabilities |
755,178 |
1,241,706 |
|||||||
Salaries and benefits payable |
11,522,268 |
10,789,713 |
|||||||
Total Current Liabilities |
16,354,342 |
15,019,301 |
|||||||
Long-term bank loans |
22,554 |
- |
|||||||
Deferred tax liabilities |
163,163 |
192,127 |
|||||||
Unrecognized tax benefits |
194,939 |
- |
|||||||
TOTAL LIABILITIES |
16,734,998 |
15,211,428 |
|||||||
Commitments and Contingencies |
|||||||||
Shareholders' Equity |
|||||||||
Common stock, |
1,593 |
1,425 |
|||||||
Additional paid-in capital |
28,586,048 |
25,648,785 |
|||||||
Statutory reserves |
2,803,811 |
2,331,138 |
|||||||
Retained earnings |
(2,680,143) |
(2,776,767) |
|||||||
Accumulated other comprehensive loss |
(1,362,665) |
(960,744) |
|||||||
Total CLPS Incorporation's Shareholders' Equity |
27,348,644 |
24,243,837 |
|||||||
Non-controlling Interests |
1,268,716 |
1,083,634 |
|||||||
Total Shareholders' Equity |
28,617,360 |
25,327,471 |
|||||||
Total Liabilities and Shareholders' Equity |
$ |
45,352,358 |
$ |
40,538,899 |
|||||
* The shares and per share data are presented on a retroactive basis to reflect the nominal share issuance. |
CLPS INCORPORATION |
|||||||||
UNAUDITED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME |
|||||||||
(Amounts in |
|||||||||
For the six months ended |
|||||||||
2020 |
2019 |
||||||||
Revenues |
$ |
46,847,534 |
$ |
34,137,189 |
|||||
Less: Cost of revenues (note 1) |
(31,104,457) |
(21,552,693) |
|||||||
Gross profit |
15,743,077 |
12,584,496 |
|||||||
Operating expenses: |
|||||||||
Selling and marketing expenses (note 1) |
1,655,650 |
1,206,153 |
|||||||
Research and development expenses |
5,416,455 |
4,939,522 |
|||||||
General and administrative expenses (note 1) |
8,446,840 |
8,223,126 |
|||||||
Other operating expense |
187,496 |
- |
|||||||
Total operating expenses |
15,706,441 |
14,368,801 |
|||||||
Income (loss) from operations |
36,636 |
(1,784,305) |
|||||||
Subsidies and other income, net |
1,163,956 |
156,352 |
|||||||
Other expenses |
(77,229) |
(30,712) |
|||||||
Income (loss) before income tax and share of loss in equity |
1,123,363 |
(1,658,665) |
|||||||
Provision (benefits) for income taxes |
446,601 |
(56,283) |
|||||||
Income (loss) before share of income in equity investees |
676,762 |
(1,602,382) |
|||||||
Share of income in equity investees, net of tax |
107,895 |
(145,329) |
|||||||
Net income (loss) |
784,657 |
(1,747,711) |
|||||||
Less: Net income attributable to non-controlling interests |
215,359 |
89,434 |
|||||||
Net income (loss) attributable to CLPS Incorporation's |
$ |
569,298 |
$ |
(1,837,145) |
|||||
Other comprehensive loss (income) |
|||||||||
Foreign currency translation loss |
$ |
(432,198) |
$ |
(58,964) |
|||||
Less: foreign currency translation (loss) gain attributable to non- |
(30,277) |
2,052 |
|||||||
Other comprehensive loss attributable to |
$ |
(401,921) |
$ |
(61,016) |
|||||
Comprehensive income (loss) attributable to |
|||||||||
CLPS Incorporation shareholders |
$ |
167,377 |
$ |
(1,898,161) |
|||||
Non-controlling interests |
184,562 |
1 |
91,486 |
||||||
$ |
351,939 |
$ |
(1,806,675) |
||||||
Basic earnings (loss) per common share* |
$ |
0.04 |
$ |
(0.13) |
|||||
Weighted average number of share outstanding – basic |
15,169,655 |
13,889,460 |
|||||||
Diluted earnings (loss) per common share* |
$ |
0.04 |
$ |
(0.13) |
|||||
Weighted average number of share outstanding – diluted (note 2) |
15,212,010 |
13,889,460 |
|||||||
Note: |
|||||||||
(1) Includes share-based compensation expenses as follows: |
9,042 |
9,472 |
|||||||
Selling and marketing expenses |
181,257 |
46,100 |
|||||||
General and administrative expenses |
2,747,132 |
2,946,803 |
|||||||
(2) All dilutive potential common shares had anti-dilutive impact and were excluded in computation of diluted |
|||||||||
* The shares and per share data are presented on a retroactive basis to reflect the nominal share issuance. |
CLPS INCORPORATION |
||||||||
RECONCILIATION OF NON-GAAP AND GAAP RESULTS (Amounts in |
||||||||
For the six months ended |
||||||||
|
||||||||
2020 |
2019 |
|||||||
Cost of revenues |
$ |
(31,104,457) |
$ |
(21,552,693) |
||||
Less: share-based compensation expenses |
9,042 |
9,472 |
||||||
Non-GAAP cost of revenues |
$ |
(31,095,415) |
$ |
(21,543,221) |
||||
Selling and marketing expenses |
$ |
1,655,650 |
$ |
1,206,153 |
||||
Less: share-based compensation expenses |
181,257 |
46,100 |
||||||
Non-GAAP selling and marketing expenses |
$ |
1,474,393 |
$ |
1,160,053 |
||||
General and administrative expenses |
$ |
8,446,840 |
$ |
8,223,126 |
||||
Less: share-based compensation expenses |
2,747,132 |
2,946,803 |
||||||
Non-GAAP general and administrative expenses |
$ |
5,699,708 |
$ |
5,276,323 |
||||
Operating income (loss) |
$ |
36,636 |
$ |
(1,784,305) |
||||
Add: share-based compensation expenses |
2,937,431 |
3,002,375 |
||||||
Non-GAAP operating income |
$ |
2,974,067 |
$ |
1,218,070 |
||||
Operating margin |
0.1% |
(5.2%) |
||||||
Add: share-based compensation expenses |
6.2% |
8.8% |
||||||
Non-GAAP operating margin |
6.3% |
3.6% |
||||||
Net income (loss) |
$ |
784,657 |
$ |
(1,747,711) |
||||
Add: share-based compensation expenses |
2,937,431 |
3,002,375 |
||||||
Non-GAAP net income |
$ |
3,722,088 |
$ |
1,254,664 |
||||
Net income (loss) attributable to CLPS Incorporation's |
$ |
569,298 |
$ |
(1,837,145) |
||||
Add: share-based compensation expenses |
2,937,431 |
3,002,375 |
||||||
Non-GAAP net income attributable to |
3,506,729 |
1,165,230 |
||||||
$ |
$ |
|||||||
Weighted average number of share outstanding used |
15,169,655 |
13,889,460 |
||||||
GAAP basic earnings (loss) per common share |
$ |
0.04 |
$ |
(0.13) |
||||
Add: share-based compensation expenses |
0.19 |
0.21 |
||||||
Non-GAAP basic earnings per common share |
$ |
0.23 |
$ |
0.08 |
||||
Weighted average number of share outstanding used |
15,212,010 |
13,889,460 |
||||||
Add: effect of dilutive securities (note 1) |
- |
184,316 |
||||||
Weighted average number of share outstanding used |
15,212,010 |
14,073,776 |
||||||
GAAP diluted earnings (loss) per common share |
$ |
0.04 |
$ |
(0.13) |
||||
Add: share-based compensation expenses |
0.19 |
0.21 |
||||||
Non-GAAP diluted earnings per common share |
$ |
0.23 |
$ |
0.08 |
||||
Note: |
||||||||
(1) All dilutive potential common shares had anti-dilutive impact and were excluded in computation of |
||||||||
GAAP diluted earnings per share in the period when loss was reported. |
CLPS INCORPORATION |
||||||||
AUDITED CONSOLIDATED BALANCE SHEETS |
||||||||
(Amounts in |
||||||||
As of |
||||||||
2020 |
2019 |
|||||||
ASSETS |
||||||||
Current assets |
||||||||
Cash and cash equivalents |
$ |
12,652,120 |
$ |
6,601,335 |
||||
Short-term investments |
636,934 |
1,791,697 |
||||||
Accounts receivable, net |
25,753,856 |
19,263,584 |
||||||
Escrow receivable |
- |
200,000 |
||||||
Prepayments, deposits and other assets, net |
1,280,967 |
1,028,154 |
||||||
Prepaid income tax |
15,780 |
630,790 |
||||||
Amounts due from related parties |
169,185 |
230,540 |
||||||
Total Current Assets |
40,508,842 |
29,746,100 |
||||||
Property and equipment, net |
452,472 |
566,591 |
||||||
Intangible assets, net |
1,144,579 |
427,769 |
||||||
|
2,118,700 |
447,790 |
||||||
Long-term investments |
680,131 |
914,006 |
||||||
Prepayments, deposits and other assets, net |
244,387 |
222,507 |
||||||
Deferred tax assets, net |
203,247 |
338,221 |
||||||
Total Assets |
$ |
45,352,358 |
$ |
32,662,984 |
||||
LIABILITIES AND SHAREHOLDERS' EQUITY |
||||||||
Current liabilities |
||||||||
Short-term bank loans |
$ |
2,161,239 |
$ |
2,184,996 |
||||
Accounts payable and other current liabilities |
489,043 |
196,832 |
||||||
Tax payables |
1,426,614 |
915,629 |
||||||
Deferred subsidies |
- |
109,250 |
||||||
Deferred revenues |
- |
124,192 |
||||||
Contract liabilities |
755,178 |
- |
||||||
Salaries and benefits payable |
11,522,268 |
7,735,487 |
||||||
Total Current Liabilities |
16,354,342 |
11,266,386 |
||||||
Long-term bank loans |
22,554 |
- |
||||||
Deferred tax liabilities |
163,163 |
- |
||||||
Unrecognized tax benefits |
194,939 |
- |
||||||
TOTAL LIABILITIES |
16,734,998 |
11,266,386 |
||||||
Commitments and Contingencies |
||||||||
Shareholders' Equity |
||||||||
Common stock, |
1,593 |
1,391 |
||||||
Additional paid-in capital |
28,586,048 |
24,276,622 |
||||||
Statutory reserves |
2,803,811 |
1,833,802 |
||||||
Retained earnings |
(2,680,143) |
(4,509,729) |
||||||
Accumulated other comprehensive loss |
(1,362,665) |
(813,650) |
||||||
Total CLPS Incorporation's Shareholders' Equity |
27,348,644 |
20,788,436 |
||||||
Non-controlling Interests |
1,268,716 |
608,162 |
||||||
Total Shareholders' Equity |
28,617,360 |
21,396,598 |
||||||
Total Liabilities and Shareholders' Equity |
$ |
45,352,358 |
$ |
32,662,984 |
||||
* The shares and per share data are presented on a retroactive basis to reflect the nominal share issuance. |
CLPS INCORPORATION |
||||||||
AUDITED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME |
||||||||
(Amounts in |
||||||||
For the years ended |
||||||||
2020 |
2019 |
|||||||
Revenues |
$ |
89,415,798 |
$ |
64,932,937 |
||||
Less: Cost of revenues (note 1) |
(58,296,097) |
(41,178,356) |
||||||
Gross profit |
31,119,701 |
23,754,581 |
||||||
Operating expenses: |
||||||||
Selling and marketing expenses (note 1) |
3,059,877 |
2,179,029 |
||||||
Research and development expenses |
10,436,975 |
7,978,883 |
||||||
General and administrative expenses (note 1) |
16,343,936 |
17,384,393 |
||||||
Total operating expenses |
29,840,788 |
27,542,305 |
||||||
Income (loss) from operations |
1,278,913 |
(3,787,724) |
||||||
Subsidies and other income, net |
2,535,868 |
779,508 |
||||||
Other expenses |
(107,322) |
(92,429) |
||||||
Income (loss) before income tax and share of income (loss) in |
3,707,459 |
(3,100,645) |
||||||
Provision for income taxes |
835,444 |
186,615 |
||||||
Income (loss) before share of income (loss) in equity investees |
2,872,015 |
(3,287,260) |
||||||
Share of income (loss) in equity investees, net of tax |
207,363 |
(145,329) |
||||||
Net income (loss) |
3,079,378 |
(3,432,589) |
||||||
Less: Net income (loss) attributable to non-controlling interests |
141,139 |
(162,813) |
||||||
Net income (loss) attributable to CLPS Incorporation's |
$ |
2,938,239 |
$ |
(3,269,776) |
||||
Other comprehensive loss |
||||||||
Foreign currency translation loss |
$ |
(571,943) |
$ |
(429,348) |
||||
Less: foreign currency translation loss attributable to non- |
(22,928) |
(17,375) |
||||||
Other comprehensive loss attributable to |
$ |
(549,015) |
$ |
(411,973) |
||||
Comprehensive income (loss) attributable to |
||||||||
CLPS Incorporation shareholders |
$ |
2,389,224 |
$ |
(3,681,749) |
||||
Non-controlling interests |
118,211 |
(180,188) |
||||||
$ |
2,507,435 |
$ |
(3,861,937) |
|||||
Basic earnings (loss) per common share* |
$ |
0.20 |
$ |
(0.24) |
||||
Weighted average number of share outstanding – basic |
14,689,224 |
13,843,764 |
||||||
Diluted earnings (loss) per common share* |
$ |
0.20 |
$ |
(0.24) |
||||
Weighted average number of share outstanding – diluted (note 2) |
14,692,299 |
13,843,764 |
||||||
Note: |
||||||||
(1) Includes share-based compensation expenses as follows: |
14,110 |
9,472 |
||||||
Selling and marketing expenses |
211,573 |
46,100 |
||||||
General and administrative expenses |
3,778,397 |
6,960,517 |
||||||
(2) All dilutive potential common shares had anti-dilutive impact and were excluded in computation of diluted |
||||||||
* The shares and per share data are presented on a retroactive basis to reflect the nominal share issuance. |
CLPS INCORPORATION |
||||||||
RECONCILIATION OF NON-GAAP AND GAAP RESULTS (Amounts in |
||||||||
For the years ended |
||||||||
|
||||||||
2020 |
2019 |
|||||||
Cost of revenues |
$ |
(58,296,097) |
$ |
(41,178,356) |
||||
Less: share-based compensation expenses |
14,110 |
9,472 |
||||||
Non-GAAP cost of revenues |
$ |
(58,281,987) |
$ |
(41,168,884) |
||||
Selling and marketing expenses |
$ |
3,059,877 |
$ |
2,179,029 |
||||
Less: share-based compensation expenses |
211,573 |
46,100 |
||||||
Non-GAAP selling and marketing expenses |
$ |
2,848,304 |
$ |
2,132,929 |
||||
General and administrative expenses |
$ |
16,343,936 |
$ |
17,384,393 |
||||
Less: share-based compensation expenses |
3,778,397 |
6,960,517 |
||||||
Non-GAAP general and administrative expenses |
$ |
12,565,539 |
$ |
10,423,876 |
||||
Operating income (loss) |
$ |
1,278,913 |
$ |
(3,787,724) |
||||
Add: share-based compensation expenses |
4,004,080 |
7,016,089 |
||||||
Non-GAAP operating income |
$ |
5,282,993 |
$ |
3,228,365 |
||||
Operating Margin |
1.4% |
(5.8%) |
||||||
Add: share-based compensation expenses |
4.5% |
10.8% |
||||||
Non-GAAP operating margin |
5.9% |
5.0% |
||||||
Net income (loss) |
$ |
3,079,378 |
$ |
(3,432,589) |
||||
Add: share-based compensation expenses |
4,004,080 |
7,016,089 |
||||||
Non-GAAP net income |
$ |
7,083,458 |
$ |
3,583,500 |
||||
Net income (loss) attributable to CLPS Incorporation's |
$ |
2,938,239 |
$ |
(3,269,776) |
||||
Add: share-based compensation expenses |
4,004,080 |
7,016,089 |
||||||
Non-GAAP net income attributable to |
$ |
6,942,319 |
$ |
3,746,313 |
||||
Weighted average number of share outstanding used in |
14,689,224 |
13,843,764 |
||||||
GAAP basic earnings (loss) per common share |
$ |
0.20 |
$ |
(0.24) |
||||
Add: share-based compensation expenses |
0.27 |
0.51 |
||||||
Non-GAAP basic earnings per common share |
$ |
0.47 |
$ |
0.27 |
||||
Weighted average number of share outstanding used in |
14,692,299 |
13,843,764 |
||||||
Add: effect of dilutive securities (note 1) |
- |
194,824 |
||||||
Weighted average number of share outstanding used in |
14,692,299 |
14,038,588 |
||||||
GAAP diluted earnings (loss) per common share |
$ |
0.20 |
$ |
(0.24) |
||||
Add: share-based compensation expenses |
0.27 |
0.51 |
||||||
Non-GAAP diluted earnings per common share |
$ |
0.47 |
$ |
0.27 |
||||
Note: |
||||||||
(1) All dilutive potential common shares had anti-dilutive impact and were excluded in computation of |
||||||||
GAAP diluted earnings per share in the period when loss was reported. |
View original content:http://www.prnewswire.com/news-releases/clps-incorporation-reports-financial-results-for-the-second-half-and-full-year-of-fiscal-2020-301158427.html
SOURCE