ADA-ES, Inc. (ADES) reported a first-quarter net loss of $1.4 million or $0.14 per share, narrower than the net loss of $27.5 million or $3.63 per share in the comparable quarter last year.
On average, 3 analysts polled by Thomson Reuters expected the company to lose $0.05 per share for the quarter. Analysts' estimates typically exclude special items.
Total revenues for the quarter more than doubled to $18.2 million from $8.5 million a year ago, mainly due to operations of two Refined Coal facilities and Refined Coal sales.
Analysts expected revenues of $17.70 million for the quarter.
Michael Durham, president and CEO of ADA-ES said that the company continues to believe that by the end of 2012 the leasing of the Refined Coal facilities to its customers will generate annualized revenues of about $100 million.
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