Aug 8, 2013 - US geothermal energy company Ram Power Corp (TSE:RPG) on Wednesday reported a net loss of USD 19.9 million (EUR 15m) for the second quarter of 2013, expanding from USD 120,365 a year before.
Loss per share was USD 0.07, compared to zero in the year-ago period.
Still, the company swung to an operating profit of USD 2.8 million after an operating loss of USD 188,284. Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) rose to USD 11.2 million from USD 3.3 million, helped by growing revenue from Ram Power's 72-MW San Jacinto geothermal power plant in Nicaragua.
Ram Power's April-June revenue marked an increase to USD 13.2 million from USD 7 million, again thanks to the Nicaraguan geothermal facility.
For the first six months of 2013, Ram Power booked a net loss of USD 27.8 million, widening from USD 2.5 million in the first half of 2012. Nevertheless, it boosted its revenues to USD 25.1 million from USD 13.4 million.
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.