Nov 18, 2013 - Canadian clean technologies firm Carmanah Technologies Corp (TSE:CMH) said on Thursday its net loss had widened to USD 1.4 million (EUR 1m) in the third quarter of 2013 from USD 838,000 a year earlier.
The company, which offers solar light-emitting diode (LED) lights and solar power systems, booked an adjusted loss before interest, tax, depreciation and amortisation of USD 1.3 million, as compared to a loss of USD 489,000 in the same period of 2012.
Gross margin declined to 23.7% from 31.3%.
Carmanah saw its revenues in July-September fall to USD 4.9 million from USD 6.6 million a year back.
In September, Carmanah unveiled plans for a a CAD-6-million (USD 5.6m/EUR 4.3m) rights offering, seeking to cover operating costs and toreplenish working capital. The placement is to be carried out in the US and the Canadian provinces of British Columbia, Alberta and Ontario.
Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.