NCRA - Nocera Inc. (OTC: NCRA) Announces Third Quarter 2019 Financial Results
ATLANTA, Nov. 20, 2019 /PRNewswire/ -- Nocera, Inc. www.nocera.company (OTC: NCRA) a provider of design, build, and installation services of aquaculture (fish farm) equipment reported its financial results for its third fiscal quarter ended September 30th, 2019.
Financial Highlights
- Sales Revenue of $1.01 million: Revenue for the quarter ended September 30th, 2019 was $1.01 million compared to nil for the comparable period in 2018. This increase in revenue was principally the result of the receipt of the first payment from our licensing agreement with JC Development.
- Net Income before taxes of approximately $786,000: Gross profit for the quarter ended September 30, 2019 was approximately $786,000, compared to nil for the comparable period in 2018.
- Earnings per Share of $0.064/share: The Company reported net income of $0.64/share for the quarter ended September 30, 2019, compared to a loss of $0.005/share in the comparable quarter of 2018. For the nine months ended September 30, 2019 the Company reported net income of $0.04/share, compared to a net loss of $0.009/share for the comparable period in 2018.
The Company's form 10-Q quarterly report for the period ending September 30th, 2019 may found at www.nocera.company The information contained in the form 10-Q for the period ending September 30, 2019 is hereby incorporated by reference.
Corporate Update
In the 4th quarter of 2019, the Company signed an agreement to produce 400 tank systems for Dongguan CIMC Intelligent Technology Co., Ltd. ("DG CIMC").
The Company also announced a Regional Agency Cooperation (Marketing) Agreement with JC Development, Ltd. covering the Asian region during the 4th quarter.
Management Commentary
Yin-Chieh "Jeff' Cheng, Chief Executive Officer, Nocera stated, "We are very pleased with our progress during the 3rd quarter of the year. Nocera has a signed a new agreement for additional 400 tank system, and entered into a marketing agreement for the Asia region."
About Nocera, Inc.
Operating primarily through its Grand Smooth, Inc. subsidiary, Nocera designs, builds, installs, equipment for the fish farming industry, as well as provides technical assistance to the operators of the equipment. The Company's Land-Based Recirculation Aquaculture Systems (RAS) can be used for saltwater and freshwater species. The RAS systems recycle water, and in the process help preserve the ecosystem by reducing pollution from an over concentration of fish in natural waterways or bodies. Nocera's RAS tanks can produce up to 20,000-30,000 lbs. of fish annually. For more information, please visit the corporate website at www.nocera.company.
Forward-Looking Statements
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the companies, are forward-looking statements that involve risks and uncertainties. There is no assurance that such statements will prove to be accurate, and actual results and future events could differ materially. Nocera undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events, or otherwise.
SOURCE Nocera, Inc.