Synthesis Energy Systems (SYMX) Reports Q2 Loss of $0.05
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Synthesis Energy Systems (NASDAQ: SYMX) reported Q2 EPS of ($0.05), versus ($0.35) reported last year. Revenue for the quarter came in at $818 thousand, versus $3.88 million reported last year.
“During the past quarter at our Tianwo-SES joint venture, we have firmly established our industry-leading technology performance achieved during a 90-day continuous operations run at the first of three Aluminum Corporation of China projects, in Shandong Province, China. At this location our clean energy gasification technology is enabling over $50,000 of savings in daily natural gas costs by converting local coal into clean syngas, thereby replacing the need for expensive natural gas,” said Robert W. Rigdon, SES President and CEO. “As shown once again during extended operations by our customers, our technology saves money and our ability to provide technology and equipment into fast track, high performance turn-key gasification plants to manufacture clean, economic syngas for use as an industrial fuel gas is gaining traction, and because of this we have grown our installed base from five to 12 commercial gasification systems in China in little more than a year. Also, Tianwo-SES reports advanced discussions with multiple new industrial fuel project opportunities of similar scale in China"
For earnings history and earnings-related data on Synthesis Energy Systems (SYMX) click here.
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