Camille Ricketts | May 18th, 2009
Ambient Corporation (OTCBB: ABTG), provider of equipment that communicates energy consumption data to utilities, reported today that it brought in $826,593 in revenue during the first quarter this year, up from $63,642 last year.
Based in Newton, Mass. the company also released that its cost of goods sold totaled $731,236 for the quarter compared to $342,870 for last year’s period. Considering how much production has increased, those numbers reflect a spike in efficiency. It says it brought in $95,357 in profit, a significant improvement from the $279,228 loss it registered for Q1 2008.
Ambient landed a $10.7 million contract with Duke Energy last spring.
Monday, May 18, 2009
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