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Hudson Technologies Reports Record Revenues of $52.2 Million for Second Quarter 2017; Diluted EPS of $0.20

PEARL RIVER, N.Y.--(BUSINESS WIRE)--

Hudson Technologies, Inc. (HDSN) announced results for the second quarter and six months ended June 30, 2017.

The Company reported record revenues of $52.2 million for the second quarter ended June 30, 2017, an increase of 51% compared to $34.6 million in the comparable 2016 period. The revenue increase in the quarter is primarily related to both price and volume increases of certain refrigerants sold. Gross margin in the second quarter of 2017 was 33% compared to 30% in the prior year period. Net income for the quarter, including the recognition of $0.8 million of non-recurring SG&A expense related to corporate development initiatives, was $8.5 million, or $0.21 per basic and $0.20 per diluted share, compared to net income of $4.8 million, or $0.15 per basic and $0.14 diluted share, in the second quarter of 2016.

For the six months ended June 30, 2017, Hudson reported revenues of $91.1 million, a 45% increase compared to $62.8 million in the comparable 2016 period. The increase is primarily related to a higher selling price of certain refrigerants and higher volumes of certain refrigerants sold. Gross margin increased to 33% for the first half of 2017 compared to 29% for the first half of 2016. Net income for the first six months of 2017 was $14.3 million, or $0.34 per basic and $0.33 per diluted share, compared to $7.8 million or $0.24 per basic and $0.23...


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