Environmental Power Corporation (Amex: EPG) announced results for the fourth quarter and year ended December 31, 2006.
For Q4 2006, revenues increased 24% to $12.3 million from Q4 05. Subsidiary Buzzard Power Corporation increased revenues of $2.4 million to $11.8 million in 2006 from $9.4 million in 2005. Subsidiary, Microgy, Inc. saw revenues decrease 15% to $448,000, due to a shift in business strategy from selling facilities based on its technology to building, owning, and operating larger RNG facilities.
Total costs and operating expenses increased 12% to $18.2 million.
The Company reported a net loss of $6.4 million, as compared to a net loss of $6.1 million for the same period in 2005.
For 2006, revenues decreased by $1.9 million, or 3%. Costs and expenses remained flat at $67.7 million. The Company had a net loss of $14.1 million, up from $11.4 million in 2005.
Loading...