Special Edition |
January 25, 2017
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Profitability Heating Up for Thermal Energy International in First Half of Fiscal 2017
On Monday, January 23, 2017, Ottawa-based cleantech company, Thermal Energy International (TSX-V: TMG) reported its financial results for the second quarter and six months ended November 30, 2016. While revenue was up for both the quarter and year-to-date, most striking were the significant increases in gross profit, EBITDAS and net income.
Gross profit increased 19% for the second quarter and 25% for the year-to-date. The Company also had strong improvements to EBITDAS, net income and adjusted cash flow. Year-to-date EBITDAS, net income and adjusted cash flow increased $606 thousand, $522 thousand and $446 thousand respectively. |
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