More sales, losses

Thermal Energy International Inc. Thermal%20Energy.jpgrecords higher revenue in Q2, 2007, but fails to trim net losses, which widen to $863,431 from $689,150 a year ago. The Ottawa-based maker of custom systems which save energy and reuse waste heat from industrial boilers, attributes the increased loss to higher salaries and commissions, a stock-based compensation charge of $132,034 and fixed costs. On a brighter note, sales jump to $618,290 from just $127,987, largely on the strength of contracts with Johnson Controls sales of steam traps in Canada, the United States and China.

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