Further losses

Thermal%20Energy.jpgThermal Energy International Inc.’s net losses deepen as revenue cools in fiscal 2007. With growth in sales missing last year’s mark, the custom energy systems maker suffered a 71.1% plunge in revenue to $821,024, while net losses widened by 10.2% to $2.4 million ($0.031 cents per share). Company CEO, Tim Angus, notes that revenue would have been stronger except for contract delays in Q4, but that revenue to be recorded next fiscal year promises it will be a record 12 months for Thermal, which is due roughly $3 million in receivables in 2008.

Submit a comment

Please leave your name, which will be used to sign your submission to the SCANsite. Thanks for contributing your thoughts. Come back again. Tony Patterson, Editor & CEO.

© 2006 - 2009 SCAN
Site by Citadel Rock