ThermoEnergy Corp. of Worcester has restructured $8.1 million in debt, but the company is still not profitable, according to a report from the firm on first-quarter results.
ThermoEnergy lost $2.7 million on $900,000 in revenues during the first quarter of the year. That compared to a $2 million loss on $1.1 million in revenues during the first quarter of 2010.
The company said it settled a lawsuit filed by one of its former employees. In a phone interview, CEO Cary Bullock declined to provide additional details on the lawsuit.
The company specializes in municipal and industrial wastewater treatment and power generation technologies
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