Pure Cycle Corporation reported financial results for the first quarter ended November 30, 2014. For the quarter, the company reported total revenues of $833,800 against $578,500 a year ago. Loss from operations was $72,300 against $237,300 a year ago.

Net income was $10,300 against loss of $846,500 a year ago. Basic and diluted earnings per share were less than $0.01 compared to a loss of $0.04 per share last year. Revenues increased approximately 44% during three months ended November 30, 2014 compared to three months ended November 30, 2013 primarily as a result of increased water sales used for fracking.