First Nine months of Fiscal Year 2021 Financial Highlights<\/p>\n
Third Quarter of Fiscal Year 2021 Financial Highlights<\/p>\n
BEIJING, May 13, 2021 \/PRNewswire\/ -- Hollysys Automation Technologies Ltd. (NASDAQ: HOLI) (\"Hollysys\" or the \"Company\"), a leading provider of automation and control technologies and applications in China, today announced its unaudited financial results for the third quarter and first nine months ended March 31, 2021 (see attached tables). The management of Hollysys stated: <\/p>\n
Industrial Automation (\"IA\") business finished the third quarter with revenue and new contracts at $67.5 million and $106.7 million, representing 97.1% and 68.7% YOY growth, respectively. For the first nine months of the 2021 fiscal year, IA revenue and new contracts achieved 44.1% and 34.0% YOY growth, respectively.<\/p>\n
Rail business finished the quarter with revenue and new contractsat $30.7 million and $15.7 million, recording 7.0% YOY growth and 215.2% YOY growth, respectively. For the first nine months of the 2021 fiscal year, rail business revenue and new contracts showed a 7.5% YOY decrease and 10.2% YOY growth, respectively.<\/p>\n
Mechanical and Electrical Solutions ('M&E') business finished the quarter with revenue and new contracts at$11.8 million and $19.6 million, recording34.1% and 1.2% YOY decrease respectively. For the first nine months of the 2021 fiscal year, M&E revenue and new contracts recorded 3.9% and 16.4% YOY decrease, respectively.<\/p>\n
COVID-19 remains a challenge to M&E and overseas business. We will keep monitoring the impact on this sector and risk control remains a key focus.<\/p>\n
Third Quarterand First Nine Months Ended March 31, 2021 Unaudited Financial Results Summary<\/p>\n
(In USD thousands, except for number of shares and per share data)<\/p>\n
Three months ended <\/p>\n
Nine months ended <\/p>\n
March 31, 2021<\/p>\n
March 31, 2020<\/p>\n
% Change<\/p>\n
March 31, 2021<\/p>\n
March 31, 2020<\/p>\n
% Change<\/p>\n
Revenues<\/p>\n
$<\/p>\n
109,907<\/p>\n
80,768<\/p>\n
36.1%<\/p>\n
$<\/p>\n
434,702<\/p>\n
374,106<\/p>\n
16.2%<\/p>\n
Integrated solutions contracts revenue<\/p>\n
$<\/p>\n
85,769<\/p>\n
67,673<\/p>\n
26.7%<\/p>\n
$<\/p>\n
333,943<\/p>\n
301,814<\/p>\n
10.6%<\/p>\n
Products sales<\/p>\n
$<\/p>\n
6,543<\/p>\n
3,588<\/p>\n
82.4%<\/p>\n
$<\/p>\n
21,569<\/p>\n
16,249<\/p>\n
32.7%<\/p>\n
Service rendered<\/p>\n
$<\/p>\n
17,595<\/p>\n
9,507<\/p>\n
85.1%<\/p>\n
$<\/p>\n
79,190<\/p>\n
56,043<\/p>\n
41.3%<\/p>\n
Cost of revenues<\/p>\n
$<\/p>\n
68,737<\/p>\n
55,928<\/p>\n
22.9%<\/p>\n
$<\/p>\n
276,257<\/p>\n
240,977<\/p>\n
14.6%<\/p>\n
Gross profit<\/p>\n
$<\/p>\n
41,170<\/p>\n
24,840<\/p>\n
65.7%<\/p>\n
$<\/p>\n
158,445<\/p>\n
133,129<\/p>\n
19.0%<\/p>\n
Total operating expenses<\/p>\n
$<\/p>\n
20,978<\/p>\n
13,317<\/p>\n
57.5%<\/p>\n
$<\/p>\n
82,945<\/p>\n
65,121<\/p>\n
27.4%<\/p>\n
Selling <\/p>\n
$<\/p>\n
7,160<\/p>\n
6,168<\/p>\n
16.1%<\/p>\n
$<\/p>\n
25,596<\/p>\n
23,838<\/p>\n
7.4%<\/p>\n
General and administrative<\/p>\n
$<\/p>\n
12,215<\/p>\n
8,946<\/p>\n
36.5%<\/p>\n
$<\/p>\n
36,035<\/p>\n
30,130<\/p>\n
19.6%<\/p>\n
Research and development<\/p>\n
$<\/p>\n
<\/p>\n
Read more: <\/p>\n
Hollysys Automation Technologies Reports Unaudited Financial Results for the Third Quarter and the First Nine Months Ended March 31, 2021 - PRNewswire<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" First Nine months of Fiscal Year 2021 Financial Highlights Third Quarter of Fiscal Year 2021 Financial Highlights BEIJING, May 13, 2021 \/PRNewswire\/ -- Hollysys Automation Technologies Ltd. Continue reading