ThermoEnergy Corporation Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2013
For the year, the company reported revenue of $2,812,000 compared to revenues of $6,971,000 in 2012. Revenue in 2013 was derived mainly by the company's first two projects utilizing its Ammonia Recovery Process technology and work related to the subcontract with Unity Power Alliance's DOE Grant. Gross loss was $501,000 compared to a profit of $173,000 in 2012. The gross loss is attributed to lower margins on the initial ARP project as well as higher unallocated overhead costs during the period. Net loss was $298,000 compared to $8,000 in 2012.