- Category: Finance
- 18 Aug 2009
- Published on Tuesday, 18 August 2009 11:59
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Transtech Industries generates electricity using methane gas and manages methane gas recovery operations. Image by Transtech Industries, Inc.
Transtech Industries, Inc. recently reported revenue losses in the second quarter as the company suffers from expenses incurred in the waste recovery and waste management industries.
A company that generates electricity using methane gas and manages methane gas recovery operations, Transtech reported a net loss of US $99,000 or $0.03 per share for the second quarter, compared to a net loss of $330,000, or $0.11 per share for 2008’s second quarter.
Electricity generation revenues went down by $119,000 from last year’s second quarter results due to the decline in the price received per generated kilowatt.
The company’s losses are also due, in part, from last month’s rejection of appeal courts regarding a suit for obtaining $16 million for the remediation of the SCP Superfund Site.
- Sunshine T. Santiago