Hollysys Automation Technologies announced financial results for Q1 of fiscal year 2019

Hollysys Automation Technologies, the leading provider of automation and control technologies and applications in China, incorporated in the British Virgin Islands and headquartered in China, announced its unaudited financial results for fiscal year 2019 first quarter ended September 30, 2018.

For this period, company’s total revenues were US$138.7 million, which is 20.1% higher as compared to the same period of the previous year. Non-GAAP net income attributable to Hollysys was US$28.1 million, an increase of 27.9% compared to the first quarter of fiscal 2018.
Non-GAAP gross margin was at 37.2% (36.6% for the same period of the prior year). Diluted earnings per share were US$0.46, an increase of 27.8% as compared to the first quarter of fiscal 2018.

The BVI company reported that for the current quarter net cash provided by operating activities was US$36.6 million.

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