Energy Factors Reports Increase in Net Income
- Share via
Energy Factors’ net income rose 17% to $1.6 million for the first quarter ended March 31, while revenues rose 8% to $7.5 million, Senior Vice President Richard Kay reported.
“We continue to be in a very strong position,” Kay told shareholders at the company’s annual meeting Wednesday. During the quarter, Energy Factors spent $24 million to acquire San Diego Gas & Electric’s remaining 20% interest in the San Diego-based company that operates and owns cogeneration plants around the country.
Kay told shareholders that the company would benefit from the acquisition of a Northern California company that is building a $28-million, wood-fueled, 17-megawatt electric power plant near Sacramento. The Feather River plant is expected to be completed in December, Kay said.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
