Home / Knowledge / News / Textiles / Sales at Cleantech International slip 40.1% in 2016
Sales at Cleantech International slip 40.1% in 2016
Apr '17
For the year ended December 31, 2016, sales at Cleantech Solutions International slipped 40.1 per cent to $17.4 million as against $29.0 million in 2015. This decline came as the main source of revenue for the company is only its dyeing and finishing business, since its forged rolled rings and other businesses are reflected as discontinued operations.

In 2016, gross profit totalled $2.5 million compared to gross profit of $6.5 million for 2015, while gross margin was 14.7 per cent during 2016 vis-à-vis 22 per cent in the previous year.

However, operating expenses surged 77.4 per cent to $3.9 million in the period under review versus $2.2 million in the earlier year.

"The increase was primarily due to higher bad debt expense, higher professional fees in the form of stock-based compensation and an increase in research and development expenses for the development of new dyeing and finishing products," Cleantech observed.

Loss from continuing operations was $1.4 million, or $1.17 loss per basic and diluted share, as against income from continuing operations of $3.0 million, or $3.04 per basic and diluted share in 2015. (AR)

Fibre2Fashion News Desk – India

Must ReadView All

Top 15 US fashion brands are collectively worth $70 bn

Fashion | On 22nd Jul 2018

Top 15 US fashion brands are collectively worth $70 bn

The top 15 American fashion brands are collectively worth close to...

Courtesy: Covestro

Textiles | On 22nd Jul 2018

Covestro's new products for waterproof textile coating

Covestro, which is among the largest polymer companies, has unveiled...

Evogene, IMAmt to work together in insect resistance

Textiles | On 22nd Jul 2018

Evogene, IMAmt to work together in insect resistance

Evogene, a leading biotechnology company developing novel products...

Interviews View All

Luke Otten
Wigwam Mills Inc

Wigwam aims to recycle discarded yarn that doesn’t make it through the...

Top executives
Textile industry

GST has levelled the playing field to an extent

Evelyne Cholet

‘France had a reputation of being big in new ideas, but poor in marketing...

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Paolo Crespi

For.Tex is an Italy-based leading producer of dyes and thickeners, and is...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Priya Somaiya
Usha Social Services

The Usha Silai label from Usha International is all set for a retail...

Amiben Shroff

From its modest beginning in the late 1960s, Shrujan has grown into a...

Cigdem Akin
Cigdem Akin

She has carved a niche for herself as the national brand of Turkey. Her...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments

July 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category

Related Categories:

Advanced Search