Ambient’s Q1 earnings bode well for smart grid
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.
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About the Author, Camille Ricketts
Camille is the lead writer for GreenBeat. She came to VentureBeat from Google where she worked on its traditional platforms team, particularly in TV. Before that, she was a reporter for the Wall Street Journal in New York and London. Follow her on Twitter at @camillericketts, and follow VentureBeat on Twitter at @venturebeat.
With GreenBeat 2009, VentureBeat's all-star conference on all things Smart Grid, coming up in November, Camille will be expanding coverage of this exciting space. Stay up to date by following @greenbeat2009 on Twitter or by becoming a fan of the event on Facebook here.