Category Archives: Unaudited financial results

Talon Metals reported financial results for three months ended March 31, 2019

Talon Metals Corp. announced financial results for the quarter ended March 31, 2019. For these three months, the BVI corporation reported net loss of US$2.8mln or US$0.01 per share, compared to a net loss of US$2.0mln or US$0.02 per share for the quarter ended March 31, 2018. The year-over-year increase in net loss was mainly the result of a loss on the fair value revaluation of the Resource Capital Fund VI L.P. unsecured convertible loan, administration expenses and stock option compensation.

For the three months ended March 31, 2019, capitalized exploration costs and deferred expenditures on the Tamarack Nickel-Copper-Cobalt Project amounted to US$12.0mln before a recovery of US$4.8mln – compared to US$0.2mln for the three months ended March 31, 2018. The total net capitalized exploration cost on the project was US$47.2mln as at March 31, 2019.

Euro Tech holding reported unaudited financial results for 1H 2018

Euro Tech Holdings Company Limited announced the unaudited financial results for the six months period ended June 30, 2018. The BVI company reported 9.29% increase of revenues from approximately US$8,707,000 for the six months ended June 30, 2017 to approximately US$9,516,000 in the same period of this year. During this period, revenues from trading activities increased by US$264,000, and from manufacturing activities they increased by US$545,000.

In 1H 2018, Euro Tech’s gross profits made approximately US$1,460,000, which is 23% decrease as compared to approximately US$1,895,000 for the first half of the previous year. The reason of the decrease was mainly the fall of the gross profit margin percentage of contract in the highly competitive market circumstances.

Selling and administrative expenses made approximately US$2,437,000 in the first six months of 2018, compared to approximately US$2,491,000 for 1H 2017. Net profit was approximately US$878,000 in the reported period, as compared to net loss of approximately US$92,000 in the same period of 2017.

The BVI company declared and paid dividend of US$0.70 per share. It is expected that the economic slowdown in China will adversely affect the performance of Euro Tech in the second half of 2018.

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.

EOG Resources announced financial results for third quarter 2018

British Virgin Islands-registered oil and gas exploration company EOG Resources announced financial results for the third quarter of 2018. During this period, the company generated significant free cash flow and exceeded its production targets. Third quarter net income reported by the BVI company was US$1.2 billion, or US$2.05 per share, as compared to third quarter 2017 net income of US$101 million, or US$0.17 per share. Net cash from operating activities in this period was US$2.2 billion.

EOG generated $2.3 billion of discretionary cash flow in the third quarter 2018. Free cash flow of the company during the period was US$503 million, after considering exploration and development expenditures and dividend payments.