China Recycling Energy Corp. (CREG) reported first-quarter net income of $2.0 million or $0.04 per share, down from $4.6 million or $0.10 per share in the same period last year.
Excluding items, adjusted net income for the quarter was $1.7 million or $0.04 per share, compared to $5.3 million or $0.09 per share last year.
Total sales for the quarter declined to $148,000 from $11.6 million a year ago, mainly due to decrease in system sales and in contingent rental income.
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