Hudson Technologies, Inc. a leading distributor and reclaimer of refrigerants, said Friday that 2008 revenues ending in December 31, 2008 increased 23 percent.

Gross profit rose 34 percent and operating income of $5.4 million.

Kevin J. Zugibe, Chairman and Chief Executive Officer of Hudson Technologies said, “Heading into 2009, we are of course cognizant of the current economic climate and we will have more clarity on how the overall economy may or may not affect our business during the second quarter.

The company also said a net income of $6.6 million or $0.35 and $0.33 per basic and diluted common share in 2008, compared to a net loss of $1.9 million or $0.09 per basic in 2007.

Briefly, fourth quarter revenue were $2.87 million versus $2.73 million in 2007, and a net loss per share of $0.04 or $821,000.

Kevin J. Zugibe, Chairman and Chief Executive Officer of Hudson Technologies said, “The fourth quarter, is always our slowest given the seasonality of the refrigerants business, he added, “Heading into 2009, we are of course cognizant of the current economic climate and we will have more clarity on how the overall economy may or may not affect our business during the second quarter.