GreenHunter's net loss widens to USD 15.5m in Q3 2012

Nov 19, 2012 - US diversified clean power firm GreenHunter Energy (AMEX:GRH) on Monday posted a third-quarter net loss to common shareholders of USD 15.5 million (EUR 12.1m), compared with USD 1 million a year earlier.

Basic and diluted loss per share was USD 0.52 in the period, compared with USD 0.04 in the third quarter of 2011. The wider loss mainly reflected USD 12.9 million in impairment of asset value for the 18.5-MW Mesquite Lake biomass project.

Adjusted earnings before interest, income tax, depreciation and amortisation came in at USD 1.2 million, versus a loss of USD 455,000 in the same period last year. Revenues surged to USD 4.9 million from USD 230,000 previously as the company focused on its water management products and services launched at the end of 2011.

In the nine months through September, GreenHunter booked a net loss of USD 17.3 million, compared with USD 4.2 million in the first nine months of 2011, while revenues climbed to USD 11.3 million from USD 230,000.

GreenHunter is engaged in the water management, waste management, wind energy and biomass sectors.

(USD 1.0 = EUR 0.783)

Choose your newsletter by Renewables Now. Join for free!