Magnegas (MNGA) Narrows Q1 Loss

Magnegas (NASDAQ: MNGA) reported Q1 EPS of ($0.05), versus ($0.07) reported last year. Revenue for the quarter came in at $191.6 thousand, versus $130.8 thousand reported last year.

"The first quarter of 2014 was marked by solid progress in our MagneGas® fuel sales with the addition of several new customers and distributors with a corresponding steady increase each month in revenue. We unveiled our new mobile sterilization system for biomass processing and made steady progress in our Co-Combustion verification projects around the world. We were also able to raise approximately $9 million in capital which affords us 18 to 24 months of cash to implement our Company strategy," stated Ermanno Santilli CEO of MagneGas. "Overall I am very satisfied with our progress so far in 2014."

For earnings history and earnings-related data on Magnegas (MNGA) click here.

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