Alternus Energy Inc. Announces Earnings Results for the First Quarter Ended March 31, 2019; Provides Earnings Guidance for the Year 2019
May 23, 2019 at 08:00 am EDT
Alternus Energy Inc. announced earnings results for the first quarter ended March 31, 2019. For the quarter, the company reported revenue decreased by 15% to $0.37 million. Operating loss increased by 42% to $0.48 million, compared to $0.34 million. Net loss was $1.34 million, compared to a net loss of $0.39 million.
The company provided earnings guidance for the year 2019. The company annual recurring revenues are expected to rise by approximately $0.85 million at an average of 90% gross margins.