WASHINGTON (dpa-AFX) - Clean Diesel Technologies, Inc. (CDTI), a cleantech emissions reduction company, Monday reported fourth-quarter net income of $0.5 million or $0.06 per share, compared to a net loss of $5.6 million or $1.71 per share last year.
Revenues for the quarter rose 80.5 percent to $21.3 million from last year's $11.8 million. Gross margin increased to 27.6 percent from 23.2 percent last year.
Craig Breese, chief executive officer of Clean Diesel, said, 'Sales in our Heavy Duty Diesel Systems division more than doubled compared to the prior year quarter. This was led by strong sales, both in the London Low Emission Zone and the North America retrofit market. Meanwhile, external sales for our Catalyst division grew more than 17 percent compared to the prior-year quarter.
Copyright RTT News/dpa-AFX
© 2012 AFX News
