Worth Watching News for Traders: Hudson Technologies (NASDAQ:HDSN)

On Friday, Hudson Technologies (NASDAQ:HDSN) started its trading session with the price $0.65 and closed at price of $0.61 by scoring -5.12%. Day range of the stock was $0.59 – $0.72. HDSN stock traded with total volume of 0 shares while the average trading capacity remained 429840 shares.  Earnings per share was $-1.31. HDSN has total market capitalization of $25878199.

On Nov. 14, 2019, Hudson Technologies (NASDAQ:HDSN) disclosed results for the third quarter and nine months ended September 30, 2019.

For the quarter ended September 30, 2019 Hudson reported revenues of $45.6 million, an increase of 13% compared to $40.5 million in the comparable 2018 period.  The increase in revenues was due to an increase in refrigerant volumes and growth with the DLA contract, offset by a decline in prices of certain refrigerants sold during the 2019 quarter when compared to 2018.  Selling, general and administrative (SG&A) expenses for the three-month period ended September 30, 2019 were $8.3 million, compared to $7.4 million in the comparable 2018 period. The increase in SG&A was primarily attributable to professional fees and insurance expense.  The Company’s net income for the third quarter of 2019, was $2.7 million, or $0.06 per basic and diluted share.  During the third quarter of 2019, the Company received $8.9 million in proceeds from the working capital settlement arising from the acquisition of Aspen Refrigerants (ARI).  Net loss for the third quarter of 2018 was $13.9 million or $(0.33) per basic and diluted share. Included in the $13.9 million third quarter 2018 loss are approximately $9 million in non-cash charges related to a deferred tax reserve and approximately $2 million in non-recurring charges related to the acquisition and integration of ARI.

For the nine months ended September 30, 2019, Hudson reported revenues of $136.3 million compared to $140.8 million in the comparable 2018 period.  Refrigerant selling prices declined in 2019 when compared with 2018.  The overall decline in revenues was partially offset by an increase in overall refrigerant volumes and revenue from the DLA contract.  SG&A expenses for the nine-month period ended September 30, 2019 were $21.2 million, compared to $26.0 million in the comparable 2018 period. The decrease in SG&A was primarily attributable to reduced payroll-related expenses, advertising and other professional fees in the first nine months of 2019.  Net loss for the first nine months of 2019, which includes a $9.2 million inventory adjustment offset by the $8.9 million of settlement proceeds, was $15.2 million, or ($0.36) per basic and diluted share.  Net loss in the first nine months of 2018, which included a $34.7 million inventory adjustment, was $47.6 million, or $(1.12) per basic and diluted share.

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