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Energy Recovery, Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported loss from operations of $4.476 million, loss before income taxes of $4.449 million, net loss of $4.51 million or $0.09 loss per basic and diluted share on net revenue of $6.373 million compared to loss from operations of $4.685 million, loss before income taxes of $4.617 million, net loss of $4.683 million or $0.09 loss per basic and diluted share on net revenue of $4.756 million for the same period last year. Net cash used in operating activities was $3.854 million against $3.74 million for the same period last year. Capital expenditures were $0.384 million against $1.014 million for the same period last year. The revenue growth was entirely attributable to increased OEM and aftermarket sales. The company anticipates similar revenue levels in 2013 as compared to those achieved in 2012.

Energy Recovery, Inc., Q1 2013 Earnings Call, May 09, 2013

Energy Recovery, Inc. announced that they will report Q1, 2013 results at 5:00 PM, Eastern Standard Time on May 08, 2013

Energy Recovery, Inc. announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2012. For the quarter, the company achieved net revenue of $15.1 million compared to $6.115 million a year ago. Due to five mega-project shipments in the current period, four to the Middle East and one to North Africa, the company attained net revenue growth of $9.0 million, or 147%, from the fourth quarter of 2011 to the fourth quarter of 2012. Comparatively, the fourth quarter of 2011 contained no revenue for mega-project shipments, with all revenue attributable instead to OEM and aftermarket sales. Strong revenue in the current period was reflective of overall growth in the desalination market, which compared favorably to depressed market activity in 2011 caused by the persistent effects of the global economic crisis and geopolitical events in the Middle East. With strong revenue realized through large shipments for mega-projects, a sequentially lower margin affected by certain inventory charges, and increased operating expenses due primarily to the trademark impairment, the company reported a net loss of $2.2 million, or $0.04 per basic and diluted share. Comparatively, the company reported a net loss of $10.0 million, or $0.19 per basic and diluted share, in the fourth quarter of 2011. Loss from operations was $2,237,000 against $10,549,000 a year ago. Loss before income taxes was $2,193,000 against $10,497,000 a year ago. For the year, the company reduced its net loss from $26.4 million, or $0.50 per basic and diluted share, for the year ended December 31, 2011 to $8.3 million, or $0.16 per basic and diluted share. This reflects a favorable annual change of $18.1 million, or $0.34 per share, even in the context of a share repurchase program that resulted in dilution due to the company's loss position. In annual terms, the company achieved 52% growth in net revenue from $28.0 million in 2011 to $42.6 million in 2012, reflecting the resurging desalination market and the company's increased market share related to mega-project awards around the world. Capital expenditures were $2.8 million, including costs associated with fixed assets and testing equipment for oil & gas development along with the implementation of a new ERP system. Loss from operations was $8,653,000 against $25,294,000 a year ago. Loss before income taxes was $8,516,000 against $25,144,000 a year ago. The company announced $1.02 million for the impairment of intangible assets during the fourth quarter of 2012.

Energy Recovery, Inc. Presents at 25th Annual ROTH Conference, Mar-20-2013 10:30 AM. Venue: The Ritz-Carlton, 1 Ritz Carlton Drive, Dana Point, Laguna Niguel, California, United States.