UPDATE: Thermal Energy International Reports Q2 Results; Stock Falls 10%

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Thermal Energy International Inc. (TMG.V) said net loss was $0.8 million for the three-month period ended November 30, 2012, compared to net income of $0.5 million for the corresponding period in 2011. Operating cash flow defined as net income (loss), plus items not involving cash, plus lease payments received for the quarter ended November 30, 2012 was ($0.5) million as compared to $0.6 million for the August 31, 2012 quarter.

TMG has fallen to $0.045 by 10%, trading near the lower end of 52-week range $0.03 - $0.085.



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