EuroSite Power Inc. Reports Unaudited Consolidated Earnings and Operating Results for the First Quarter Ended March 31, 2017
EuroSite Power Inc. reported unaudited consolidated earnings and operating results for the first quarter ended March 31, 2017. For the quarter, the company reported revenues of $830,849 against $687,032 a year ago. Loss from operations was $273,873 against $378,871 a year ago. Loss before income taxes was $279,046 against $391,461 a year ago. Net loss was $279,046 against $391,461 a year ago. Net loss per share - basic and diluted was $0.003 against $0.01 a year ago. Adjusted EBITDA was $6,722 against adjusted LBITDA of $245,635 a year ago. Net cash used in operating activities was $325,131 against net cash provided by operating activities of $62,576 a year ago. Purchases of property and equipment were $150,130 against $211,453 a year ago.
Total energy production increased by 34% to 13,338 MWh for the period ended March 31, 2017 as compared to 2016, which equates to 35% of the total energy production achieved during the whole of 2016.