Hudson Technologies, Inc. (NASDAQ:HDSN) announced results for the third quarter ended September 30, 2016. The Company achieved record revenues for the three months ended September 30, 2016 of $34.9 million, an increase of 61% compared to $21.7 million in the comparable 2015 period. The revenue increase in the quarter is primarily related to an increase in the price of certain refrigerants, and an increase in the volume of certain refrigerants sold. Gross margin improved to 34% in the third quarter of 2016 compared to 20% in the prior year period. Net income for the quarter was $4.8 million, or $0.14 per basic and diluted share, compared to net income of $1.1 million, or $0.03 per basic and diluted share, in the third quarter of 2015. For the first nine months of 2016, Hudson recorded revenues of $97.7 million, a 35% increase as compared to $72.4 million in the comparable 2015 period. The increase is primarily related to a higher selling price of certain refrigerants and higher volumes of certain refrigerants sold. Gross margin increased to 31% in the first nine months of 2016 as compared to 24% in the first nine months of 2015. Net income for the first nine months of 2016 was $12.6 million, or $0.38 per basic and $0.37 per diluted share, compared to $5.8 million or $0.18 per basic and $0.17 per diluted share in the first nine months of 2015. During the third quarter, as previously announced, the Company was awarded, as the prime contractor, a five-year contract including a five-year renewal option, by the United States Defense Logistics Agency ("DLA") with an estimated maximum value over the 10-year term of the agreement of $400 million in sales to the Department of Defense ("DoD"). The contract is for the management and supply of refrigerants, compressed gases, cylinders and related items to the U.S. Military Commands and Installations, Federal civilian agencies and Foreign Militaries. Primary users include the U.S. Army, Navy, Air Force, Marine Corps and Coast Guard.