HONG
KONG, March 3, 2023 /PRNewswire/ -- CLPS
Incorporation (the "Company" or "CLPS") (Nasdaq: CLPS), today
announced its unaudited financial results for the six months ended
December 31, 2022, or the first half
of the Company's fiscal year 2023.
During this period, the global economy and international affair
conditions have changed considerably, including the Federal Reserve
interest rate hikes and changes in China's COVID conditions and policies, among
others. This unprecedented chain of events had impacted both the
macro and micro economies. The Company experienced direct and
indirect effects on its business development, including the impact
of exchange rate fluctuation between the RMB and the U.S. dollar
since we are reporting in U.S. dollar term.
The sluggish global economic growth partly caused by COVID-19
had impacted CLPS' clients in core markets, such as banking and
e-commerce. Short term effects include clients cutting their
budgets and reducing demand for IT services, which lessened the
business growth opportunity for CLPS during the first half of
fiscal year 2023. In addition, as part of China's COVID-19
epidemic prevention policy, the affected employees of CLPS
were isolated, and those who were symptomatic could not work,
leading to an increase in costs and a slowdown in revenue growth.
In spite of this challenge, the Company responded by strengthening
its client relationships, refining its management, expanding its
client base actively, and providing support for its affected
employees.
As a result of rapid industry development and economic structure
changes, IT professionals became more in demand, which pushed up
compensation costs. Through the Talent Creation Program and Talent
Development Program, CLPS was able to integrate education,
training, and delivery, easing the pressure of this challenge.
Through the development of its own projects enabled by advanced technology,
extensive research, and understanding the needs of its clients, the
Company has built a strong reputation in the industry, gained
competitiveness, and boosted its bargaining power over the
years.
First Half of Fiscal 2023 Highlights (all results compared to
the six months ended December 31,
2021)
- Revenues increased by 1.1% to $76.8
million from $75.9
million.
- Revenue from wealth management area increased by 24.3% to
$18.8 million from $15.1 million.
- Revenue from automotive area increased by 29.7% to $6.5 million from $5.0
million.
- Revenue from the U.S. and Japan increased by 72.4% and 155.7%.
- Net cash provided by operating activities increased by 29.9% to
$17.2 million from $13.2 million.
Mr. Raymond Lin, Chief Executive
Officer of CLPS, commented, "In the first half of fiscal year 2023,
we maintained continued revenue growth and are well positioned to
executing on our strategy to deliver solid financial performance
for the rest of the fiscal year and beyond. We remained strong
across our key markets, thanks to the trust and satisfaction our
clients placed in us.
As we sustained our competitive position in banking area, we
also achieved growth in other core markets driven by the increased
demand for IT services. The Company's capability in the automotive
area makes us a reliable partner in China's burgeoning market for smart electric
vehicles. Likewise, we continued to put our wealth management
expertise to work, an area that remains lucrative in the financial
industry and one in which several international banks have begun to
navigate. Our global expansion strategy continued to pay off. In
particular, our revenues from the U.S. and Japan increased by 72.4% and 155.7%,
respectively.
In 2022, we faced challenges due to macroeconomic factors, which
we expect will cause some short-term headwinds this year. However,
we recognize the opportunity in putting digital transformation
initiatives at the forefront of our clients' strategy, and we are
always ready to assist them in accelerating their business
interactions and operations. CLPS is fully committed to delivering
innovative products suited to the needs of our clients to offer
them a full range of integrated services for their respective
businesses, as well as enabling them to take digital transformation
forward and achieve agile business management."
Ms. Rui Yang, Chief Financial
Officer of CLPS, commented, "CLPS ended the first half of fiscal
year 2023 financial results on a solid note. Despite the effects of
currency fluctuation in RMB against the U.S. dollar, we delivered a
sustained revenue growth of 9.7% year-over-year in RMB term. In
light of the volatile market, we continued to exercise prudence by
strengthening our cash position. Our net cash provided by operating
activities was up by 29.9% to $17.2
million in the first half of fiscal 2023, compared to
$13.2 million in prior year period.
Furthermore, we are pleased that we generated a net income of
$1.4 million in the first half of
fiscal 2023, from a net loss of $1.9
million in the second half of fiscal 2022. We also kicked
off 2023 on a high note with CLPS's first special cash dividend
payout. The Board also intends to declare dividend in the future
depending on the Company's financial performance and results of
operation. Despite the short-term challenges we faced, we remained
confident in our ability to achieve continued growth and maximum
shareholder value over the long term."
First Half of Fiscal year 2023 Financial Results
Revenues
In the first half of fiscal 2023, revenues increased by
$0.9 million, or 1.1%, to
$76.8 million from $75.9 million in the prior year period. This
increase in revenue was mainly due to an increase in revenue from
IT consulting services.
Revenues by Service
- Revenue from IT consulting services increased by $0.8 million, or 1.2%, to $72.8 million in the first half of fiscal year
2023 from $72.0 million in the prior
year period. Revenue from IT consulting services accounted for
94.9% of total revenue, compared to 94.8% in the prior year period.
The increase was due to the increased demand from existing and new
clients, and our improved service delivery capability.
- Revenue from customized IT solution services decreased by
$0.1 million, or 2.3%, to
$3.2 million in the first half of
fiscal 2023 from $3.3 million in the
prior year period. Revenue from customized IT solution services accounted
for 4.1% of total revenue, compared to 4.3% in the prior year
period. The decrease was primarily due to the effect of currency
fluctuation in RMB against the U.S. dollar.
- Revenue from other services increased by $0.1 million, or 11.4%, to $0.8 million in the first half of fiscal year
2023 from $0.7 million in the prior
year period. Revenue from other services accounted for 1.0% of
total revenue, compared to 0.9% in the prior year period. The
increase was primarily due to the increased demand for other
services, including non-IT consulting service.
Revenues by Operational Areas
- Revenue from banking area decreased by $2.9 million, or 8.2%, to $32.2 million in the first half of fiscal 2023,
from $35.1 million in the prior year
period. Revenue from banking area accounted for 42.0% and 46.2% of
total revenues in the first half of fiscal 2023 and 2022,
respectively.
- Revenue from wealth management area increased by $3.7 million, or 24.3%, to $18.8 million in the first half of fiscal 2023,
from $15.1 million in the prior year
period. Revenue from wealth management area accounted for 24.5% and
19.9% of total revenues in the first half of fiscal 2023 and 2022,
respectively.
- Revenue from e-Commerce area decreased by $0.7 million, or 4.8%, to $13.7 million in the first half of fiscal
2023, from $14.4 million in the
prior year period. Revenue from e-Commerce area accounted for 17.9%
and 19.0% of total revenues in the first half of fiscal
2023 and 2022, respectively.
- Revenue from automotive area increased by $1.5 million, or 29.7%, to $6.5 million in the first half of fiscal 2023,
from $5.0 million in the prior year
period. Revenue from automotive area accounted for 8.5% and 6.6% of
total revenues in the first half of fiscal 2023 and 2022,
respectively.
Revenues by Geography
- Revenue generated outside of Mainland China was $7.2 million in the first half of fiscal year
2023, compared to $7.7 million in the
same period of the previous year.
Gross Profit
Gross profit was $18.5 million in
the first half of fiscal 2023, compared to $22.3 million in the prior year period.
Operating Expenses
Selling and marketing expenses increased by $0.4 million, or 17.5%, to $2.7 million in the first half of fiscal 2023
from $2.3 million in the prior year
period. As a percentage of total revenues, selling and marketing
expenses increased to 3.5% in the first half of fiscal 2023
compared to 3.0% in the prior year period. The increase was
primarily due to the sales and marketing personnel-related
expenses.
Research and development expenses increased by $0.2 million, or 4.4%, to $4.4 million in the first half of fiscal 2023
from $4.2 million in the prior year
period. As a percentage of total revenues, research and development
expenses increased to 5.7% in the first half of fiscal 2023
compared to 5.5% in the prior year period. The increase was
primarily due to the increased research and development personnel
related expenses which enabled the Company's continued research and development efforts in new
projects such as CAKU 2.0 and new
generation of loan system.
General and administrative expenses increased by $1.5 million, or 16.6%, to $10.7 million in the first half of fiscal 2023
from $9.2 million in the prior year
period. As a percentage of total revenues, general and
administrative expenses increased to 13.9% in the first half of
fiscal 2023 compared to 12.1% in the prior year period. The
increase was primarily due to hiring of management-level employees
to further drive our growth in the overseas market, the
year-over-year increase in employee salary, and the increase in
depreciation and amortization resulting from the acquisition of
fixed assets in Hong Kong and
Singapore.
Operating Income
Operating income was $1.3 million
in the first half of fiscal 2023, compared to $7.6 million in the same period of the previous
year.
Other Income and Expenses
Total other income, net of other expenses was $0.2
million in the first half of fiscal 2023, compared
to $0.2 million total other expenses, net of other
income in the prior year period.
Provision for Income Taxes
Provision for income taxes decreased by $0.7 million to $0.2
million in the first half of fiscal 2023 from $0.9 million in the same period of the previous
year, mainly due to the decrease in income before taxes.
Net Income
Net income was $1.4 million in the
first half of fiscal 2023, compared to $6.5
million in the prior year period.
Net income attributable to CLPS Incorporation's shareholders in
the first half of fiscal 2023 was $1.3
million, compared to $6.3
million in the prior year period.
Cash Flow
As of December 31, 2022, the
Company had cash and cash equivalents of $37.6 million compared to $18.4 million as of June
30, 2022.
Net cash provided by operating activities was approximately
$17.2 million. Net cash used in
investing activities was approximately $0.2
million. Net cash provided by financing activities was
approximately $2.5 million. The
effect of exchange rate change on cash was approximately negative $0.3
million. The Company believes that its current cash position
and cash flow from operations are sufficient to meet its
anticipated cash needs for at least the next 12 months.
Financial Outlook
Undeterred by the short-term challenges mentioned above, we
remain confident about our long-term business growth. For fiscal
year 2023, the Company expects, considering our financial numbers
could be affected by the floating exchange rate, and absent
material acquisitions or non-recurring transactions, total sales
growth was adjusted in the range of approximately 5% to 10%, and
net income growth in the range of approximately 7% to 12% compared
to fiscal year 2022 financial results.
This forecast reflects the Company's current and preliminary
views, which are subject to change and are subject to risks and
uncertainties, including, but not limited to various risks and
uncertainties facing the Company's business and operations as
identified in its public filings.
Exchange Rate
The balance sheet amounts with the exception of equity as of
December 31, 2022, were translated at
6.8972 RMB to 1.00 USD compared to 6.6981 RMB to 1.00
USD as of June 30, 2022. The
equity accounts were stated at their historical rate. The average
translation rates applied to the income statements accounts for the
periods ended December 31, 2022 and
2021 were 6.9789 RMB to 1.00 USD and 6.4316
RMB to 1.00 USD, respectively.
The change in the value of the RMB relative to the U.S. dollar may
affect our financial results reported in the U.S. dollar terms
without giving effect to any underlying change in our business or
results of operation.
Conference Call Information
The Company will hold a conference call at 8:30 am ET on March 3,
2023 to discuss first half of fiscal 2023 results. Listeners
may access the call by dialing:
U.S.
Toll-Free:
|
+1-877-423-9813
|
U.S. Local
/International:
|
+1-201-689-8573
|
Mainland
China:
|
400 120 2840
|
Hong Kong:
|
800 965 561
|
Listeners may also click this Call me™ link, which will be
available 15 minutes prior to scheduled start time for instant
telephone access.
To access the live webcast of the conference call, please visit
this link. The live and archived webcast will also be available
through the Company's investor relations website at
https://ir.clpsglobal.com.
A replay of the call will be available through March 17, 2023 by dialing:
U.S.
Toll-Free:
|
+1-844-512-2921
|
U.S.
Local/International:
|
+1-412-317-6671
|
Passcode:
|
13736594
|
About CLPS Incorporation
Headquartered in Hong Kong,
CLPS Incorporation (the "Company") (Nasdaq: CLPS) is a global
leading information technology ("IT"), consulting and solutions
service provider focusing on the banking, insurance and financial
sectors. The Company serves as an IT solutions provider to a
growing network of clients in the global financial industry,
including large financial institutions in the US, Europe, Australia, Southeast
Asia and Hong Kong, and
their PRC-based IT centers. The Company maintains 19 delivery
and/or research & development centers to serve different
customers in various geographic locations. Mainland China centers are located in Shanghai, Beijing, Dalian, Tianjin, Xi'an, Chengdu, Guangzhou, Shenzhen, Hangzhou, and Hainan. The remaining nine global centers are
located in Hong Kong SAR, USA,
Japan, Singapore, Australia, Malaysia, India, the
Philippines and Vietnam.
For further information regarding the Company, please visit:
https://ir.clpsglobal.com/, or follow CLPS on Facebook, LinkedIn,
and Twitter.
Forward-Looking Statements
Certain of the statements made in this press release are
"forward-looking statements" within the meaning and protections of
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended.
Forward-looking statements include statements with respect to the
Company's beliefs, plans, objectives, goals, expectations,
anticipations, assumptions, estimates, intentions, and future
performance, and involve known and unknown risks, uncertainties and
other factors, which may be beyond the Company's control, and which
may cause the actual results, performance, capital, ownership or
achievements of the Company to be materially different from future
results, performance or achievements expressed or implied by such
forward-looking statements. All such statements attributable to us
are expressly qualified in their entirety by this cautionary
notice, including, without limitation, those risks and
uncertainties related to the Company's financial and operational
performance in the first half of fiscal 2023, its expectations of
the Company's future performance, its preliminary outlook and
guidance offered in this presentation, as well as the risks and
uncertainties described in the Company's most recently filed SEC
reports and filings. Such reports are available upon request from
the Company, or from the Securities and Exchange Commission,
including through the SEC's Internet website at http://www.sec.gov.
We have no obligation and do not undertake to update, revise or
correct any of the forward-looking statements after the date
hereof, or after the respective dates on which any such statements
otherwise are made.
Use of Non-GAAP Financial Measures
The unaudited condensed consolidated financial information is
prepared in conformity with accounting principles generally
accepted in the United States of
America ("U.S. GAAP"), except that the consolidated
statement of changes in shareholders' equity, consolidated
statements of cash flows, and the detailed notes have not been
presented. The Company uses non-GAAP operating income, non-GAAP
operating margin, non-GAAP net income attributable to CLPS
Incorporation's shareholders, and basic and diluted non-GAAP net
income per share, which are non-GAAP financial measures. Non-GAAP
operating income is operating income excluding share-based
compensation expenses. Non-GAAP operating margin is non-GAAP
operating income as a percentage of revenues. Non-GAAP net income
attributable to CLPS Incorporation's shareholders is net income
attributable to CLPS Incorporation's shareholders excluding
share-based compensation expenses. Basic and diluted non-GAAP net
income per share is non-GAAP net income attributable to common
shareholders divided by weighted average number of shares used in
the calculation of basic and diluted net income per share. The
Company believes that separate analysis and exclusion of the
non-cash impact of share-based compensation expenses clarity to the
constituent parts of its performance. The Company reviews these
non-GAAP financial measures together with GAAP financial measures
to obtain a better understanding of its operating performance. It
uses the non-GAAP financial measure for planning, forecasting and
measuring results against the forecast. The Company believes that
non-GAAP financial measure is useful supplemental information for
investors and analysts to assess its operating performance without
the effect of non-cash share-based compensation expenses, which
have been and will continue to be significant recurring expenses in
its business. However, the use of non-GAAP financial measures has
material limitations as an analytical tool. One of the limitations
of using non-GAAP financial measures is that they do not include
all items that impact the Company's net income for the period. In
addition, because non-GAAP financial measures are not measured in
the same manner by all companies, they may not be comparable to
other similar titled measures used by other companies. In light of
the foregoing limitations, you should not consider non-GAAP
financial measure in isolation from or as an alternative to the
financial measure prepared in accordance with U.S. GAAP.
The presentation of these non-GAAP financial measures is not
intended to be considered in isolation from, or as a substitute
for, the financial information prepared and presented in accordance
with U.S. GAAP. The Company encourages investors to carefully
consider its results under GAAP, as well as its supplemental
non-GAAP information and the reconciliation between these
presentations, to more fully understand its business. For more
information on these non-GAAP financial measures, please see the
table captioned "Unaudited Reconciliations of Non-GAAP and GAAP
Results" near the end of this release.
Contact:
CLPS Incorporation
Rhon Galicha
Investor Relations Office
Phone: +86-182-2192-5378
Email: ir@clpsglobal.com
CLPS
INCORPORATION
|
CONDENSED
CONSOLIDATED BALANCE SHEETS
|
(Amounts in U.S.
dollars ("$"), except for number of shares)
|
|
|
As of
|
|
|
December 31,
|
|
|
June
30,
|
|
|
2022
|
|
|
2022
|
|
|
(Unaudited)
|
|
|
(Audited)
|
ASSETS
|
|
|
|
|
|
Current
assets:
|
|
|
|
|
|
Cash and cash
equivalents
|
|
37,551,244
|
|
|
18,396,987
|
Accounts receivable,
net
|
|
45,048,831
|
|
|
53,769,887
|
Prepayments, deposits
and other assets, net
|
|
2,963,071
|
|
|
4,215,414
|
Amounts due from
related parties
|
|
429,369
|
|
|
377,642
|
Total Current
Assets
|
|
85,992,515
|
|
|
76,759,930
|
Non-Current
assets:
|
|
|
|
|
|
Property and equipment,
net
|
|
20,430,216
|
|
|
20,601,098
|
Intangible assets,
net
|
|
920,605
|
|
|
970,044
|
Goodwill
|
|
2,412,933
|
|
|
2,363,841
|
Long-term
investments
|
|
566,522
|
|
|
610,386
|
Prepayments, deposits
and other assets, net
|
|
289,422
|
|
|
248,456
|
Deferred tax assets,
net
|
|
305,258
|
|
|
327,040
|
Operating lease
right-of-use assets
|
|
1,282,906
|
|
|
-
|
Total
Assets
|
|
112,200,377
|
|
|
101,880,795
|
|
|
|
|
|
|
LIABILITIES AND
SHAREHOLDERS' EQUITY
|
|
|
|
|
|
Current
liabilities:
|
|
|
|
|
|
Bank loans
|
|
16,592,357
|
|
|
14,474,363
|
Accounts
payable
|
|
397,437
|
|
|
343,597
|
Accrued expenses and
other current liabilities
|
|
363,782
|
|
|
352,402
|
Tax
payables
|
|
2,505,813
|
|
|
2,355,066
|
Contract
liabilities
|
|
2,247,687
|
|
|
587,140
|
Salaries and benefits
payable
|
|
14,928,223
|
|
|
12,203,933
|
Amount due to related
parties
|
|
37,034
|
|
|
66,884
|
Operating lease
liabilities, current
|
|
1,033,044
|
|
|
-
|
Total Current
Liabilities
|
|
38,105,377
|
|
|
30,383,385
|
Non-Current
liabilities:
|
|
|
|
|
|
Deferred tax
liabilities
|
|
142,921
|
|
|
150,547
|
Operating lease
liabilities, non-current
|
|
375,636
|
|
|
-
|
Other non-current
liabilities
|
|
3,202,410
|
|
|
3,546,263
|
TOTAL
LIABILITIES
|
|
41,826,344
|
|
|
34,080,195
|
Commitments and
Contingencies
|
|
|
|
|
|
|
|
|
|
|
|
Shareholders'
Equity
|
|
|
|
|
|
Common stock, $0.0001
par value, 100,000,000 shares authorized;
23,626,122 shares issued and outstanding as of
December 31,
2022; 22,444,822 shares issued and
outstanding as of June 30,
2022
|
|
2,363
|
|
|
2,244
|
Additional paid-in
capital
|
|
57,648,162
|
|
|
55,705,209
|
Statutory
reserves
|
|
6,498,218
|
|
|
5,071,876
|
Retained
earnings
|
|
6,138,216
|
|
|
6,323,792
|
Accumulated other
comprehensive losses
|
|
(1,261,753)
|
|
|
(550,248)
|
|
|
|
|
|
|
Total CLPS
Incorporation's Shareholders' Equity
|
|
69,025,206
|
|
|
66,552,873
|
|
|
|
|
|
|
Noncontrolling
Interests
|
|
1,348,827
|
|
|
1,247,727
|
|
|
|
|
|
|
Total Shareholders'
Equity
|
|
70,374,033
|
|
|
67,800,600
|
|
|
|
|
|
|
Total Liabilities
and Shareholders' Equity
|
|
112,200,377
|
|
|
101,880,795
|
CLPS
INCORPORATION
|
UNAUDITED
CONDENSED CONSOLIDATED STATEMENTS
|
of INCOME AND
COMPREHENSIVE INCOME
|
(Amounts in U.S.
dollars ("$"), except for number of shares)
|
|
For the six months
ended
December
31,
|
|
2022
|
|
|
2021
|
|
|
|
|
|
Revenues
|
76,760,811
|
|
|
75,921,605
|
Less: Cost of revenues
(note 1)
|
(58,299,928)
|
|
|
(53,609,609)
|
Gross
profit
|
18,460,883
|
|
|
22,311,996
|
|
|
|
|
|
Operating income
(expenses):
|
|
|
|
|
Selling and marketing
expenses (note 1)
|
2,684,075
|
|
|
2,284,404
|
Research and
development expenses
|
4,359,214
|
|
|
4,175,373
|
General and
administrative expenses (note 1)
|
10,694,588
|
|
|
9,168,389
|
Subsidies and other
operating income
|
(620,702)
|
|
|
(878,083)
|
Total operating
expenses
|
17,117,175
|
|
|
14,750,083
|
Income from
operations
|
1,343,708
|
|
|
7,561,913
|
Other income
|
399,917
|
|
|
295,704
|
Other
expenses
|
(183,695)
|
|
|
(475,269)
|
Income before income
tax and share of income (loss) in equity
investees
|
1,559,930
|
|
|
7,382,348
|
Provision for income
taxes
|
185,196
|
|
|
864,921
|
Income before share of
income (loss) in equity investees
|
1,374,734
|
|
|
6,517,427
|
Share of income (loss)
in equity investees, net of tax
|
22,577
|
|
|
(47,082)
|
Net
income
|
1,397,311
|
|
|
6,470,345
|
Less: Net income
attributable to noncontrolling interests
|
129,881
|
|
|
207,881
|
Net income
attributable to CLPS Incorporation's shareholders
|
1,267,430
|
|
|
6,262,464
|
|
|
|
|
|
Other comprehensive
income (loss)
|
|
|
|
|
|
|
|
|
|
Foreign currency
translation (loss) income
|
(746,569)
|
|
|
500,376
|
Less: foreign currency
translation (loss) income attributable to
noncontrolling interest
|
(35,064)
|
|
|
15,308
|
Other comprehensive
(loss) income attributable to CLPS
Incorporation's shareholders
|
(711,505)
|
|
|
485,068
|
|
|
|
|
|
Comprehensive income
attributable to
|
|
|
|
|
CLPS Incorporation's
shareholders
|
555,925
|
|
|
6,747,532
|
Comprehensive income
attributable to noncontrolling interests
|
94,817
|
|
|
223,189
|
Comprehensive
income
|
650,742
|
|
|
6,970,721
|
|
|
|
|
|
Basic earnings per
common share*
|
0.05
|
|
|
0.31
|
Weighted average number
of share outstanding – basic
|
23,626,122
|
|
|
20,374,035
|
Diluted earnings per
common share*
|
0.05
|
|
|
0.31
|
Weighted average number
of share outstanding – diluted
|
23,643,457
|
|
|
20,457,630
|
|
Note:
|
|
(1) Includes
share-based compensation expenses as follows:
|
|
Cost of
revenues
|
11,071
|
|
|
22,923
|
Selling and marketing
expenses
|
60,091
|
|
|
109,375
|
General and
administrative expenses
|
1,871,910
|
|
|
2,335,803
|
|
1,943,072
|
|
|
2,468,101
|
|
* The shares and per
share data are presented on a retroactive basis to reflect the
nominal share issuance.
|
CLPS
INCORPORATION
|
|
UNAUDITED
RECONCILIATION OF NON-GAAP AND GAAP RESULTS
|
|
(Amounts in U.S.
dollars ("$"), except for number of shares)
|
|
|
|
For the six months ended
|
|
|
|
December 31,
|
|
|
|
2022
|
|
|
2021
|
|
|
|
|
|
|
|
|
Cost of
revenues
|
58,299,928
|
|
|
53,609,609
|
|
Less: share-based
compensation expenses
|
11,071
|
|
|
22,923
|
|
Non-GAAP cost of
revenues
|
58,288,857
|
|
|
53,586,686
|
|
|
|
|
|
|
|
Selling and marketing
expenses
|
2,684,075
|
|
|
2,284,404
|
|
Less: share-based
compensation expenses
|
60,091
|
|
|
109,375
|
|
|
|
|
|
|
|
Non-GAAP selling and
marketing expenses
|
2,623,984
|
|
|
2,175,029
|
|
|
|
|
|
|
|
General and
administrative expenses
|
10,694,588
|
|
|
9,168,389
|
|
Less: share-based
compensation expenses
|
1,871,910
|
|
|
2,335,803
|
|
Non-GAAP general and administrative
expenses
|
8,822,678
|
|
|
6,832,586
|
|
|
Operating
income
|
1,343,708
|
|
|
7,561,913
|
|
Add: share-based
compensation expenses
|
1,943,072
|
|
|
2,468,101
|
|
Non-GAAP operating income
|
3,286,780
|
|
|
10,030,014
|
|
|
|
|
|
|
|
Operating
Margin
|
1.8 %
|
|
|
10.0 %
|
|
Add: share-based
compensation expenses
|
2.5 %
|
|
|
3.2 %
|
|
Non-GAAP operating margin
|
4.3 %
|
|
|
13.2 %
|
|
|
|
|
|
|
|
Net income
|
1,397,311
|
|
|
6,470,345
|
|
Add: share-based
compensation expenses
|
1,943,072
|
|
|
2,468,101
|
|
Non-GAAP net income
|
3,340,383
|
|
|
8,938,446
|
|
|
|
|
|
|
|
Net income attributable
to CLPS
Incorporation's shareholders
|
1,267,430
|
|
|
6,262,464
|
|
Add: share-based
compensation expenses
|
1,943,072
|
|
|
2,468,101
|
|
Non-GAAP net income attributable to
CLPS Incorporation's shareholders
|
3,210,502
|
|
|
8,730,565
|
|
|
|
|
|
|
|
Weighted average number
of share
outstanding used in computing GAAP and
non-GAAP basic earnings
|
23,626,122
|
|
|
20,374,035
|
|
GAAP basic earnings per
common share
|
0.05
|
|
|
0.31
|
|
Add: share-based
compensation expenses
|
0.09
|
|
|
0.12
|
|
Non-GAAP basic earnings per common
share
|
0.14
|
|
|
0.43
|
|
|
|
|
|
|
|
Weighted average number
of share
outstanding used in computing GAAP
diluted earnings
|
23,643,457
|
|
|
20,457,630
|
|
Weighted average number
of share
outstanding used in computing non-GAAP
diluted earnings
|
23,643,457
|
|
|
20,457,630
|
|
|
|
|
|
|
|
GAAP diluted earnings
per common share
|
0.05
|
|
|
0.31
|
|
Add: share-based
compensation expenses
|
0.09
|
|
|
0.12
|
|
Non-GAAP diluted earnings per common
share
|
0.14
|
|
|
0.43
|
|
View original
content:https://www.prnewswire.com/news-releases/clps-incorporation-reports-financial-results-for-the-first-half-of-fiscal-year-2023-301761971.html
SOURCE CLPS