GreenHunter Resources Inc. (GRH) reported that its first-quarter net loss to common shareholders was $8.5 million or $0.25 per share compared to a net loss of $0.8 million or $0.03 per share in the year ago quarter.
The operating loss for the quarter was $7.2 million, compared to an operating loss of $0.4 million in the first quarter of 2012.
Revenues for the quarter were $8.6 million, compared to $2.3 million in the first quarter of 2012. The increase in revenues of 279% or $6.3 million was driven primarily by increases in daily salt water disposal volumes as a result of both organic SWD capacity growth and acquisitions that resulted in a 1,455% increase in permitted operating injection capacity compared to one year ago.
For comments and feedback: editorial@rttnews.com