The decrease in revenue was due to a decline in the price received per kilowatt generated. Gross revenues of the environmental services segment for the period in 2009 and 2008 were $153,000 and $219,000, respectively. The environmental services were conducted on sites owned or leased by members of the consolidated group in both quarters and therefore eliminated in the calculation of net revenues.
The cost of operations for the quarters ended March 31, 2009 and 2008 were $700,000 and $704,000, respectively, and other income was $139,000 and $121,000, respectively.
No income tax benefits were recognized in the period for 2009 versus $144,000 reported for the period in 2008.
Transtech Industries and certain subsidiaries previously participated in the waste recovery and waste management industries. The company continues to incur administrative and legal expenses on matters related to its past participation in those industries. In addition, the company may incur remediation and post-closure costs related to sites of past operations.
