CLPS Clocks 45% Revenue Growth In 2H, Issues Optimistic FY22 Outlook - CLPS (NASDAQ:CLPS)

Information technology consulting and solutions service provider CLPS Inc CLPS reported second-half FY21 revenue growth of 44.6% year-on-year to $67.7 million.
Revenue by Service: Revenue from IT consulting services rose 43.2% Y/Y to $65.2 million, and customized IT solution services increased 81.0% to $2.1 million.
Revenue From Operational Areas: Revenue from the banking area increased 36.3% to $31.2 million, the e-Commerce area grew by 101.2% Y/Y to $11.5 million, the wealth management area increased by 40.1% to $13.8 million, and the automotive area expanded by 204.5% to $5.0 million.
Margin: Gross profit increased by 37.8% Y/Y to $21.7 million. The non-GAAP operating margin expanded 270 bps to 10.4%.
Non-GAAP net income increased by 59.4% Y/Y to $5.6 million, and the Non-GAAP EPS was $0.29.
CLPS held $28.9 million in cash and equivalents. It generated $2.6 million in operating cash flow for the twelve months ended June 30.
"Going forward, we will pursue more IT consulting and solution services investments that we can synergize into our core business and develop innovative products and services," said CFO Rui Yang.
Outlook: CLPS sees FY22 sales growth of 30% - 35% and non-GAAP net income growth of 32% - 37%.
Price Action: CLPS shares traded higher by 0.16% at $3.155 on the last check Friday.