LITTLETON - Clean coal technology company ADA-ES, Inc. reported a wider net loss for the first quarter on increased expenses, even though the company experienced a double-digit growth in revenues.

The company reported a first quarter net loss attributable to ADA of $0.54 million or $0.08 per share, wider than $0.17 million or $0.03 per share loss last year. Quarterly revenues increased 22% to $4.90 million from $4.00 million last year, topping analysts’ consensus estimate of $3.69 million for the quarter.

Segment wise, mercury emission control revenues for the quarter
increased to $4.80 million from $4.00 million in the year-ago
quarter. Flue gas conditioning and other revenues for the
period decreased to $77 thousand from $0.10 million last year.
Within its mercury emission control segment, activated carbon
injection system sales rose 19% year-over-year and accounted
for 60% of revenues.

Operating loss for the quarter was $1.52 million, wider than
$0.52 million loss in the year-ago quarter, as total expenses
for the quarter increased to $3.56 million from $1.84 million
in the same quarter of last year.

The company’s wider operating and net losses were attributable
to a $1.7 million increase in general and administrative
expenses relating to higher costs associated with its joint
venture, ADA Carbon Solutions, as well as legal expenses
relating to ongoing litigation.

ADA also noted that it expects to generate $10 million to $15
million in Activated Carbon sales in 2009 assuming continued
consolidation of the results of operations of ADA Carbon
Solutions with Energy Capital Partners I, LP and its affiliated
funds.