CLPS Incorporation Inc. (NASDAQ: (CLPS) stock declined by 0.63% in the current market trading session. CLPS Incorporation, based in Hong Kong, is a global leader in information technology, consulting, and services for the banking, insurance, and financial industries.

CLPS stock’ Financial Highlights

CLPS Incorporation. Announced its financial results for the second half and full-year fiscal 2021. Given below are the highlights:

• From $46.8 million to $67.7 million, revenue grew by 44.6 percent.
• From $0.7 million to $3.4 million, operating income rose by 417.9%.
• From $0.8 million to $2.1 million, net income rose by 166.0 percent.
• CLPS Incorporation’s net income rose by 243.7 percent to $2.0 million, or $0.11 basic and $0.10 diluted profits per share, relative to $0.6 million, or $0.04 basic and diluted earnings per share, due to CLPS Incorporation’s shareholders.
• Non-GAAP net income grew by 59.4% to $5.6 million, or $0.23 basic and diluted profits per share, relative to $3.5 million, or $0.23 basic and diluted earnings per share.
• CLPS Incorporation’s non-GAAP net income grew by 59.4 percent to $5.6 million, or $0.30 basic and $0.29 diluted profits per share, relative to $3.5 million, or $0.23 basic and diluted earnings per share.

Full-year Fiscal 2021

• From $89.4 million to $126.1 million, revenues grew by 41.0 percent.
• From $3.2 million to $8.4 million, operating income jumped by 161.2 percent.
• From $3.1 million to $7.0 million, net income rose by 127.9%.
• CLPS Incorporation’s total income rose by 132.0 percent to $6.8 million, or $0.39 basic and diluted profits per share, compared to $2.9 million, or $0.20 basic and diluted earnings per share, due to CLPS Incorporation’s shareholders.
• Non-GAAP net income grew by 72.1 percent to $11.9 million, or $0.69 basic and $0.68 diluted profits per share, from $6.9 million, or $0.47 basic and diluted earnings per share, in the prior year.
• From 227 to 251, the number of clients rose by 10.6%.
• Revenues from the main five clients amounted to 45.7 percent of overall revenue, down from 47.3 percent the year before, indicating a reduction in reliance on big clients for income.

Future Outlook

Absent substantial acquisitions or non-recurring transactions, the Company anticipates overall sales growth of 30 to 35 percent and non-GAAP net income growth of 32 to 37 percent in the fiscal year 2022, relative to the fiscal year 2021 financial performance.