ThermoEnergy Corporation reported earnings results for the second quarter ended June 30, 2013. For the quarter, the company recorded revenues of $1,080,000, compared to $1,900,000 in the second quarter of 2012. Unlike 2012, ongoing revenues are no longer derived from the company's NYCDEP contract and are fully attributable to the sale and production of the company's CAST(R), RCAST(R) and ARP(TM) systems into industrial markets, as well as work performed under UPA's DOE contract to construct a bench scale unit to demonstrate Pressurized Oxy-Combustion (POXC(R)) using three domestic coals.

The company reported net income of $1.426 million or $0.01 per basic share, compared to a loss of $2.531 million or $0.03 per basic share for the same period in 2012. Income was primarily derived by a non-cash gain of $4,878,000 related to final completion of its contract with the NYCDEP during the second quarter of 2013. This gain represents the amount by which project billings exceeded revenues at the time of termination by the customer.