Primary Energy Recycling widens loss in Q2

Aug 10, 2012 - US Primary Energy Recycling Corp (TSE:PRI), which recovers heat and byproduct fuels from industrial processes, Thursday said its April-June net and comprehensive loss had expanded to USD 5.4 million (EUR 4.4m) from USD 700,000 a year ago.

The company turned to an operating loss of USD 5.4 million from a profit of USD 1.4 million.

Revenue for the quarter lost 5.6% year-on-year to USD 12.6 million. The result was impacted by turbine upgrade activities at one of the company's facilities. Gross power production amounted to 313,023 MWh, compared with 327,826 MWh a year back.

In the first half of 2012 Primary Energy Recycling's loss widened to USD 4.9 million from USD 2.9 million, while revenue gained 2.7% to USD 26.8 million.

(USD 1 = EUR 0.813)

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