Revenue was up significantly at Ottawa-based Thermal Energy International (TSXV: TMG) during its second quarter, pushing the company to a profit for the period.
The company, which specializes in energy efficiency and emission reduction solutions, reported revenue of $4 million during the three-month period that ended Nov. 30, 2013.
That’s up from $1.3 million during the same period the year before.
(Sponsored)
In a tough economy, investing in community is more important than ever
When finances are tight, it might seem counterintuitive to give back, but supporting our most vulnerable neighbours this holiday season can actually help businesses weather their own challenges. At United
DYMON and The Ottawa Mission celebrate record-breaking Giving Tuesday success
The Ottawa Mission is celebrating a historic Giving Tuesday after raising more than $1.1 million in support of people experiencing homelessness, hunger, and poverty — the most successful Giving Tuesday
The increased revenue moved the company into the black. The company reported net income of $238,000 for the quarter, up from a loss of $787,000 during the same period last year.
“While our business is characterized by a long sales cycle, orders received year-to-date and our strong order backlog are evidence that the investment we made in sales and distribution in early fiscal 2013 is bearing fruit,” said William Crossland, the company’s CEO, in a press release.
