Profits fall sharply at Hudson Technologies in 2Q
Hudson Technologies Inc., a Pearl River-based refrigeration services company, reported net income of $164,000, or 1 cent a share, during the second quarter, worse than the net income of $2.99 million, or 15 cents a share, a year earlier. Revenues decreased 37 percent to $8.3 million.
Chief Executive Officer Kevin J. Zugibe said the results fell well short of expectations.
“Simply put, during the second quarter we continued to experience a decline in the volume of our refrigerant sales due in large part to the unseasonably cold weather in the North and particularly the Northeastern portion of the United States…” he said in a written statement.