The Nevada company which develops and operates geothermal plants around the world and supplies equipment and services for others had sales of $132.4m, up 35% from the year-earlier period. Gross margin was 30.1%, up from 15.3% last year. Net income was $8m, or $0.17 per share, against a $9m loss ($0.20 per share) in the first quarter of 2011.
Chief executive Dita Bronicki credits improvements to the company's well fields and equipment, "which increased generation and reduced operating costs.
"On
