XML 19 R4.htm IDEA: XBRL DOCUMENT v3.19.1
Consolidated Statements of Income and Comprehensive Income - USD ($)
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
REVENUES:      
Total revenues $ 23,152,267 $ 21,628,554 $ 21,174,801
COST AND EXPENSES:      
Total cost of revenues 15,318,661 13,539,829 13,646,569
GROSS PROFIT 7,833,606 8,088,725 7,528,232
Operating expenses:      
Sales and marketing 2,144,588 1,614,237 1,516,126
General and administrative 2,684,183 1,462,901 1,324,485
Research and development 1,992,228 1,151,985 947,506
Total operating expenses 6,820,999 4,229,123 3,788,117
OPERATING INCOME FROM OPERATIONS 1,012,607 3,859,602 3,740,115
OTHER INCOME (EXPENSE)      
Interest (expense) income (21,446) 20,740 (18,201)
Other income 612,188 540,149 272,812
Other expense (6,533) (7,414) (4,362)
Total other income, net 584,209 553,475 250,249
INCOME BEFORE INCOME TAXES 1,596,816 4,413,077 3,990,364
PROVISION FOR INCOME TAXES 43,190 434,882 536,387
NET INCOME 1,553,626 3,978,195 3,453,977
Less: Income (loss) attributable to non-controlling interests 7,336 (6,671)
NET INCOME ATTRIBUTABLE TO POWERBRIDGE 1,546,290 3,984,866 3,453,977
OTHER COMPREHENSIVE INCOME (LOSS)      
Foreign currency translation adjustment (339,238) 221,132 10,444
COMPREHENSIVE INCOME 1,214,388 4,199,327 3,464,421
Less: Comprehensive income (loss) attributable to non-controlling interest 6,928 (6,928)
COMPREHENSIVE INCOME ATTRIBUTABLE TO POWERBRIDGE $ 1,207,460 $ 4,206,255 $ 3,464,421
WEIGHTED AVERAGE NUMBER OF ORDINARY SHARES      
Basic and diluted [1] 6,905,248 6,905,248 6,905,248
EARNINGS PER SHARE      
Basic and diluted $ 0.22 $ 0.58 $ 0.5
[1] Shares and per share data are presented on a retroactive basis to reflect the nominal share issuance and share split on August 18, 2018 and February 10, 2019.