First-quarter revenue plunged for Worcester-based ThermoEnergy Corp. (TMEN), which makes wastewater-treatment and power-generation systems, the company announced Thursday.
Revenue for the quarter, which ended March 31, totaled about $202,000, down from slightly over $1 million for the first quarter of 2013.
This comes on the heels of bad news from its 2013 annual numbers, when revenue fell almost $4 million from 2012.
The company said that revenue for the first quarter of 2014 was limited to spare parts orders and service for existing customers while last year’s numbers were bolstered by two industrial projects.
ThermoEnergy said that despite it achieving an 18 percent year-over-year savings in operating expenses for the quarter, it reported a net loss of $1.625 million, up from $1.072 million for the same period in 2013.
