Environmental Power reports 2Q loss

NH Business Review Staff,

Environmental Power Corporation reported a more than 10 percent decrease in total revenues for the three months ended June 30.

Revenues decreased by 10.7 percent, or $1.6 million, to $13.3 million, from $14.9 million for the same time period in 2005.

The Portsmouth-based company reported a $2.9 million net loss, or 30 cents per share on 9.6 million weighted average common shares outstanding, as compared to $2.5 million, or 34 cents per share, on 7.4 million weighted average common shares outstanding for the same time period in 2005.

Revenues for company subsidiary Buzzard Power Corp. declined by nearly 7 percent, to $13 million for the second quarter 2006, down from $13.9 million for the same three months of 2005.

Total revenues for the first half of 2006 were down by $2.4 million to $27.6 million, from $30.0 million for first half 2005. – TRACIE STONE

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