Tweet
VivoPower International PLC Reports Unaudited Financial Results
For the Six Months Ended December 31, 2019
LONDON, United Kingdom, February 25, 2020 (GLOBE NEWSWIRE) – VivoPower International PLC (Nasdaq: VVPR)
(“VivoPower” or the “Company”), an international solar and critical power company, today announced its results for the six
months ended December 31, 2019.
Highlights for the Six Months Ended December 31, 2019:
• Revenue of $31.4 million, up 63% over same period in prior year;
• Gross profit in Critical Power Services increased by 80% to $5.6 million, on the strength of 66% revenue growth and
improved margins in this segment;
• Further 42% ($2.1 million annualized) reduction in Corporate Office and Solar Development overheads;
• Positive adjusted EBITDA of $5.5 million for the period;
• Total profit after tax for the period of $1.1 million; and
• Earnings per share (EPS) of $0.12.
“We are very pleased with the financial results for the year to date; reporting a profit for the first time since March 31, 2017,”
said Art Russell, VivoPower’s Interim Chief Executive Officer. “Returning to sustained profitability has been our primary
strategic objective and this been accomplished through the dedication and hard work of our team to expand the business into
sectors with strong tailwinds, optimize our operations, reduce costs, and focus on profitability.”
Kevin Chin, VivoPower’s Chairman, added: “We have had to overcome a myriad of challenges
https://vivopower.com/wp-content/upl...al-Results.pdf
For the Six Months Ended December 31, 2019
LONDON, United Kingdom, February 25, 2020 (GLOBE NEWSWIRE) – VivoPower International PLC (Nasdaq: VVPR)
(“VivoPower” or the “Company”), an international solar and critical power company, today announced its results for the six
months ended December 31, 2019.
Highlights for the Six Months Ended December 31, 2019:
• Revenue of $31.4 million, up 63% over same period in prior year;
• Gross profit in Critical Power Services increased by 80% to $5.6 million, on the strength of 66% revenue growth and
improved margins in this segment;
• Further 42% ($2.1 million annualized) reduction in Corporate Office and Solar Development overheads;
• Positive adjusted EBITDA of $5.5 million for the period;
• Total profit after tax for the period of $1.1 million; and
• Earnings per share (EPS) of $0.12.
“We are very pleased with the financial results for the year to date; reporting a profit for the first time since March 31, 2017,”
said Art Russell, VivoPower’s Interim Chief Executive Officer. “Returning to sustained profitability has been our primary
strategic objective and this been accomplished through the dedication and hard work of our team to expand the business into
sectors with strong tailwinds, optimize our operations, reduce costs, and focus on profitability.”
Kevin Chin, VivoPower’s Chairman, added: “We have had to overcome a myriad of challenges
https://vivopower.com/wp-content/upl...al-Results.pdf
Comentario