VANCOUVER – Nevada Geothermal Power Inc. (TSXV:NGP) reduced its annual loss in fiscal 2011 by 50 per cent to US$ 8.6 million as its revenue more than doubled from the year before, the company announced Tuesday.
The loss amounted to eight cents per share, while revenue increased to US$ 24.9 million.
In fiscal 2010, the Vancouver-based company had a $ 18-million net loss or 19 cents per share with $ 11.8 million of revenue.
Nevada Geothermal is focused on generating electricity by tapping geothermal energy from eight projects in the United States.
Local news from metronews.ca/vancouver
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