Fuel Tech, Inc. Reports Earnings Results for the Full Year Ended December 31, 2022
March 07, 2023 at 04:37 pm EST
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Fuel Tech, Inc. reported earnings results for the full year ended December 31, 2022. For the full year, the company reported sales was USD 26.94 million compared to USD 24.26 million a year ago. Net loss was USD 1.44 million compared to net income of USD 0.054 million a year ago.
Basic loss per share from continuing operations was USD 0.05. Diluted loss per share from continuing operations was USD 0.05.
Fuel Tech, Inc. is a technology company, which is engaged in the development, commercialization and application of proprietary technologies for air pollution control, process optimization, water treatment and advanced engineering services. It has two segments: Air Pollution Control technology and FUEL CHEM technology. The Air Pollution Control technology segment includes technologies to reduce oxides of nitrogen (NOx) emissions in flue gas generated by the firing of natural gas or coal from boilers, incinerators, furnaces and other stationary combustion sources. These include NOxOUT and HERT Selective Non-Catalytic Reduction (SNCR) systems, and Selective Catalytic Reduction (SCR) systems. The FUEL CHEM technology segment uses chemical processes in combination with advanced computational fluid dynamics and chemical kinetics modeling boiler modeling for the control of slagging, fouling, corrosion, opacity and other sulfur trioxide-related issues in coal-fired furnaces and boilers.
FUEL TECH, INC. 
