Innovente net loss widens to USD 811,000 in Q2 2012/13
Dec 21, 2012 - Canadian biomass-to-energy firm Innovente Inc (CVE:IGE) said Thursday its net loss widened to CAD 803,000 (USD 811,000/EUR 614,00) in its fiscal second quarter to October 31, from CAD 225,000 a year ago.
Loss per share also increased to CAD 0.021 from CAD 0.08 a year ago.
Net loss for the first half of fiscal 2012/13 was CAD 1.3 million, compared with CAD 485,000 in the same period of 2011/12. First-half loss per share deepened to CAD 0.034 from CAD 0.017.
The company published no revenue figures due to a delay in the start of commercial operation of its first biomass-to-energy plant in St-Patrice-de-Beaurivage, Canada, with a capacity of 4.6 MW. The launch of the plant was put off until April 30, 2013 at the latest.