Intercept Energy Services Inc. reported earnings results for the fourth quarter ended December 31, 2014. For the quarter, the company reported net income before other items of $0.2 million compared to a net loss before other items of $1.6 million for the same quarter last year and net loss before other items was $1.4 million compared to $3.0 million last year, mainly due to increase in revenues during current quarter and year. Net income was $0.2 million compared to a net loss of $1.6 million for the same quarter last year and the net income was $1.1 million for the year ended December 31, 2014, compared to a net loss of $3.0 million last year, mainly due to the onetime gain in the current year of $2.9 million on extinguishment of royalty obligation and the general overall increase in revenues and operations.

Gross revenues were higher by 350% to $3.1 compared to $0.7 million for the same quarter last year and were higher by 173% to $5.8 million compared to $2.1 million last year, mainly due to an increase in the number of Heating Units in operation in 2014 and the entry into the US during the first quarter of 2014.