Fuel Tech: Surges as co swings to quarterly profit

Fuel Tech

11/11/2020 10:40

** Shares of pollution control technology provider  FTEK.O 
surge 63% to $1.24 in premarket trade- highest in more than four
months 
    ** Posts Q3 net income of $2.4 mln vs net loss of $1.3 mln
last year  urn:newsml:reuters.com:*:nBw1NJsRba
    ** Co in Q3 recorded receipt of $2.6 mln after reaching a
settlement with its insurance carrier, relating to an
outstanding claim that was previously reported in 2019
 urn:newsml:reuters.com:*:nL4N2GE3Z5
    ** Posts 26.4% rise in Q3 revenue to $8.2 mln
    ** Attributes rise in revenue to better performance in APC
(Air Pollution Control Technology) and FUEL CHEM (fuel and flue
gas treatment processes) segments
    ** YTD, stock down ~20%, as of last close

 (Reporting by Shreyasee Raj in Bengaluru)
 ((Shreyasee.Raj@thomsonreuters.com;))