Alter NRG's revenues climb to USD 3.2m in Q3 2012

Nov 14, 2012 - Canadian plasma gasification firm Alter NRG (TSE:NRG) on Tuesday reported third-quarter revenues of CAD 3.2 million (USD 3.2m/EUR 2.5m), up from CAD 2.9 million a year earlier.

Sales growth is expected to continue this year and in 2013, reflecting the rising pace of fabrication of the scale gasifier for a 50-MW facility for US firm Air Products and further licensing opportunities due to transact by end-2012.

Despite the rise in revenues, the company booked a net loss from continuing operations of CAD 1.6 million in the period, against income of CAD 915,650 in the same period last year. Loss from discontinued operations was CAD 65,738 in the quarter, compared with a deficit of CAD 6.2 million in the third quarter of 2011. Basic and diluted loss per share was CAD 0.01 in the three months through September, against earnings of CAD 0.01 a year earlier.

In the first nine months of 2012, Alter NRG posted a loss from continuing operations of CAD 6.0 million, compared with a shortfall of CAD 3.4 million a year ago, while sales climbed to CAD 8.6 million from CAD 5.5 million previously.

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