TECOGEN ANNOUNCES YEAR-END RESULTS
TECOGEN ANNOUNCES YEAR-END RESULTS WALTHAM, Mass., Nov. 5 /PRNewswire/ -- Tecogen Inc. (ASE: TGN)
today reported that its revenues for the 12 months ended Sept. 28, 1991, were $17,100,000, compared with $17,761,000 in 1990. Net income was $260,000, compared with $286,000 in 1990.
"Our year-end results reflect a decline in orders for our packaged cogeneration systems, although demand for our commercial cooling products has increased," said Dr. Ravinder K. Sakhuja, president of Tecogen Inc. "Our contract revenues, which include the development of natural gas-fueled engines for vehicles, increased during the year. We recently completed the installation of our TecoDrive(tm) 7000 compressed natural gas engines in two transit-style school buses, manufactured by Blue Bird Body Company, which are now being offered as a new production option for the 1992 model year." Tecogen Inc. manufactures, markets, and services packaged cogeneration and commercial cooling systems fueled principally by natural gas. The company also conducts research and development on low-emission natural gas engines for vehicles; pump, compressor, and electric generator drives; as well as advanced systems for clean-coal combustion and other high-efficiency gas-fueled devices. Tecogen is a public subsidiary of Thermo Electron Corporation (NYSE: TMO). Tecogen Inc. Financial Highlights Three Months Ended 12 Months Ended 9/28/91 9/29/90 9/28/91 9/29/90 Total revenues $3,989,000 $4,281,000 $17,100,000 $17,761,000 Income before provision for income taxes 175,000 178,000 468,000 446,000 Net income 84,000 112,000 260,000 286,000 Earnings per share 1 cent 1 cent 3 cents 4 cents Weighted average shares 7,877,000 7,831,000 7,866,000 7,829,000 -0- 11/5/91 /CONTACT: John N. Hatsopoulos of Thermo Electron, 617-622-1111/ (TGN TMO) CO: Thermo Electron ST: Massachusetts IN: OIL SU: ERN KM -- NE012 -- 1140 11/05/91 09:59 EST
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|Date:||Nov 5, 1991|
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