Brief: Fuel Tech Reports Q1 Revenue Of $3.8 Million

Fuel Tech

12/05/2020 22:24

May 12 (Reuters) - Fuel Tech Inc  FTEK.O :
    * FUEL TECH REPORTS 2020 FIRST QUARTER FINANCIAL RESULTS
    * Q1 LOSS PER SHARE $0.10 FROM CONTINUING OPERATIONS
    * Q1 REVENUE $3.8 MILLION VERSUS $10.2 MILLION
    * ENDED QUARTER WITH $11.1 MILLION IN CASH AND CASH
EQUIVALENTS
AND NO DEBT
    * CAPITAL PROJECTS BACKLOG AT MARCH 31, 2020 WAS $9.2
MILLION
    * IMPACT OF COVID-19 ON Q1 WAS NOT MATERIAL
    * AS WE HAVE MOVED INTO Q2, WE ARE SEEING IMPACT OF COVID-19
ON
OUR BUSINESS ACTIVITY
    * Q2 FUEL CHEM REVENUE WILL DETERIORATE AT ACCOUNTS THAT ARE
NOT
DISPATCHED FOR POWER GENERATION

Source text for Eikon:  ID:nBw2MP0v6a 
Further company coverage:  FTEK.O 

 ((Reuters.Briefs@thomsonreuters.com;))