Clps Incorporation - CLPS STOCK NEWS

CLPS Incorporation (Nasdaq: CLPS) has declared a special cash dividend of $0.05 per share, amounting to approximately $1.18 million, payable on January 10, 2023. Shareholders of record as of December 29, 2022 will receive this dividend. CEO Raymond Lin emphasized the company’s strong business position and its commitment to returning capital to shareholders. Future dividends will depend on the company's financial performance and conditions.

CLPS Incorporation (Nasdaq: CLPS) reported a 20.6% increase in fiscal year 2022 revenues, reaching $152.0 million compared to $126.1 million in the previous year. IT consulting services revenue rose by 17.8% to $144.1 million, while customized IT solutions surged 115.2% to $6.7 million. However, operating income dropped 11.6% to $7.4 million, and net income fell 34.6% to $4.6 million. Looking ahead, the company expects 20%-25% revenue growth for fiscal year 2023, despite currency fluctuations.

CLPS Incorporation (Nasdaq: CLPS) will announce its second half and full year financial results for fiscal 2022 on October 20, 2022, before the market opens.

A conference call is scheduled for 8:30 am ET to discuss these results, along with business highlights and future outlook. Listeners can access the call via various dial-in numbers or through a live audio webcast on the Company’s investor relations website.

CLPS is a global IT consulting and solutions provider focused on the banking and financial sectors, operating 18 centers across the globe.

CLPS Incorporation (Nasdaq: CLPS) has appointed Mr. Srustijeet Mishra as the new CEO of CLPS Technology Inc. in California, responsible for U.S. operations. Mr. Mishra, an IT veteran with over 20 years of experience, previously founded Ridik and led CLPS SEA. Under his leadership, CLPS California, established in January 2020, has shown significant growth, including an 85% team expansion and revenue generation since fiscal year 2021. The company plans to leverage its established relationships in Asia to build a strong client base in the U.S., aiming for further growth in North America.

CLPS Incorporation (Nasdaq: CLPS) announced the development of a new loan management system aimed at small and medium-sized banks in Hong Kong and Southeast Asia, with a launch expected in 2023. The system integrates advanced technologies such as blockchain and facial recognition to enhance the loan application process, targeting a market demand identified through preliminary research. This initiative aims to help traditional banks improve efficiency and reduce operational costs while adapting to digital transformation.

CLPS Incorporation (Nasdaq: CLPS) announced a strategic Collaboration Agreement with Educare Global Academy in Singapore on June 21, 2022. This partnership aims to enhance IT talent in the banking and fintech sectors by offering a Post Graduate Diploma focused on new banking technologies. The program includes internship and job placement support for graduates. CLPS anticipates that this collaboration will drive revenue growth by addressing the region's demand for skilled professionals in these industries.

CLPS Incorporation (Nasdaq: CLPS) announced the launch of a scenario-based digital currency application solution aimed at aiding financial institutions in enhancing their digital economy capabilities. This initiative is a response to the growing demand for digital currency ecosystems, particularly in China, where the digital RMB is gaining momentum. The solution integrates various financial services, enabling institutions to adopt digital currency more rapidly. CLPS plans to customize the solution for clients, targeting increased market penetration and customer acquisition.

CLPS Incorporation (Nasdaq: CLPS) launched its new credit card system product, CAKU, aimed at accelerating digital transformation in banking. CAKU's open-source architecture provides rapid implementation and flexibility, catering to banks' evolving needs. Key features include a secure distributed architecture, over 1,000 standardized components, and the capacity to process over 200,000 transactions per second. Targeting small and medium-sized financial institutions in Southeast Asia, CAKU is expected to enhance CLPS's customized IT solutions and gross margins.

CLPS Incorporation (Nasdaq: CLPS) reported a strong performance for the first half of fiscal 2022, with revenues increasing by 30.2% to $75.9 million, driven by a 26.2% rise in IT consulting services to $72.0 million. Net income rose 31.2% to $6.5 million, with non-GAAP net income increasing 37.4% to $8.7 million. The company projects 30%-35% sales growth and 32%-37% non-GAAP net income growth for the full fiscal year 2022, underscoring confidence in ongoing strategic initiatives.