Notable News Spotlight: Viomi Technology Co., Ltd (NASDAQ:VIOT) announces earning report

Viomi Technology Co., Ltd (NASDAQ:VIOT) spotted trading -45.83% off 52-week high price. On the other end, the stock has been noted 19.57% away from the low price over the last 52-weeks. The stock changed 8.20% to recent value of $8.58. The stock transacted 187096 shares during most recent day however it has an average volume of 200.36K shares. The company has 73.39M of outstanding shares and 11.4M shares were floated in the market.  

Viomi Technology Co., Ltd (NASDAQ:VIOT), a leading IoT @ Home technology company in China, released its unaudited financial results for the first quarter ended March 31, 2019.

First Quarter 2019 Financial and Operating Highlights

Net revenues reached RMB676.2 million (US$100.8 million), an increase of 104.4% from the first quarter of 2018.

Gross margin was 28.0%, compared to 29.6% for the first quarter of 2018.

Net income was RMB41.3 million (US$6.2 million), an increase of 40.5% from the first quarter of 2018.

Non-GAAP net income1 was RMB53.1 million (US$7.9 million), an increase of 68.1% from the first quarter of 2018.

Number of household users reached more than 2.0 million, compared to approximately 1.7 million as of the end of 2018 and approximately 1.0 million as of the end of the first quarter of 2018.

Percentage of household users with at least two connected products reached 15.2%, compared to 14.3% as of the end of 2018 and 12.1% as of the end of the first quarter of 2018.

Number of Viomi offline experience stores reached more than 1,600, compared to approximately 1,500 as of the end of 2018 and approximately 500 as of the end of the first quarter of 2018.

 Its earnings per share (EPS) expected to touch remained 504.20% for this year . VIOT has a gross margin of 28.00% and an operating margin of 3.10% while its profit margin remained 2.00% for the last 12 months. 

 According to the most recent quarter its current ratio was 2.2 that represents company’s ability to meet its current financial obligations. The price moved ahead of -20.27% from the mean of 20 days, -24.92% from mean of 50 days SMA and performed -8.54% from mean of 200 days price. Company’s performance for the week was -1.49%, -36.49% for month and YTD performance remained 10.98%.

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