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STW Resources Holding Corp Releases Third Quarterly Report for 2015, Posts $8.7 Million in Nine Month Revenues Company Reported Third Quarter Revenues of $3.9 MillionMIDLAND, Texas, November 23, 2015, /PRNewswire/ -- STW Resources Holding Corp.(OTC QB: STWS), a provider of high-quality pipeline services, water reclamation and processing management services including water desalination, announced today that its financial results for the six months ended June 30, 2015 have been filed on its Form 10-Q Quarterly Report with the Securities and Exchange Commission (SEC). A detailed Form10-Q is available on the company web site.STWS reported revenues from continuing operations for the nine months endedSeptember 30, 2015, of $8,693,437. While this represents a 2% increase in revenues from the nine months ended September 30, 2014, gross profit during the nine months endedSeptember 30, 2015, increased by $2,264,176, or 349% over the nine months endedSeptember 30, 2014. Our gross profit margin during the nine months ended September30, 2015, increased to 34% as compared to 8% during the nine months ending September30, 2014. This significant improvement in gross profit margin demonstrates the success of initiatives set forth by Company management to increase profitability by reducing cost of revenues, improving operating efficiencies, and shedding less profitable business units.During the three months ended September 30, 2015, revenues from water reclamation and desalination services increased to $1,063,219 from $118,859 during the three months ended June 30, 2015, an increase of 795% over the prior quarterly period. Total revenues for the three months ended September 30, 2015 increased to $3,907,570 from $2,587,460,an increase of $1,320,110, or 51% over the prior quarterly period.During the nine months ended September 30, 2015, the Company discontinued itsoperations of STW Energy LLC and STW Oilfield Construction LLC, realizing losses from discontinued operations of $743,913 and $1,505,616, for the nine months endedSeptember 30, 2015 and 2014, respectively. The discontinuance of these operations enabled the Company to focus its resources on its more profitable STW Pipeline andSTW Water Resources business segments that the Company believes represent high-growth lines of business. The Company’s net loss for the nine months ended September 30, 2015 was $6,637,675as compared to a net loss of $11,641,886 during the nine months ended September 30,2014, a reduction in net loss of $6,004,211, or 43%.The Company’s non-GAAP net loss, which is net loss adjusted for non-cash expenses including stock based compensation, amortization of debt discount, financing costs, and change in derivative liability was $4,319,719 for the nine months ended September 30,2015, as compared to $6,787,018 for the nine months ended June 30, 2014, an improvement of $2,467,299, or 36%.
During the three months ended September 30, 2015, the Company reported revenues of$3,907,570, which represents an increase of $588,287, or 18% growth, over revenues during the three months ended September 30, 2014. Gross profit during the three months ended September 30, 2015, increased by 578,117, or 104% over the three months endedSeptember 30, 2014. The net loss for the three months ended September 30, 2015 was$2,240,933 as compared to a net loss of $5,174,294 during the three months ended September 30, 2014, a reduction in net loss of $2,933,301 or 58%
