Thermal Energy International Inc. reported earnings results for the second quarter and six months ended November 30, 2014. For the quarter, the company's revenue was $1,663,000 against $4,014,000 a year ago. LBITDAS was $487,000 against EBITDAS of $311,000 a year ago. Net loss was $491,000 against net income of $238,000 a year ago. Negative adjusted operating cash flow was $338,000 compared to adjusted operating cash flow of $434,000 a year ago. The lower revenue was attributable to a 68% decrease in heat recovery sales and a 40% decrease in GEM® Condensate return system sales compared to the second quarter of last year.

For the six months, the company's revenue was $2,834,000 against $5,536,000 a year ago. LBITDAS was $1,145,000 against EBITDA of $25,000 a year ago. Net loss was $1,160,000 against $121,000 a year ago. Negative adjusted operating cash flow was $811,000 compared to negative adjusted operating cash flow of $328,000 a year ago.