Aug. 9, 2010 — Mass Megawatts Wind Power Inc. reported a net loss of 8 cents per share, or $644,485, in the fiscal year ending April 30, 2010. Although still a loss, the figure was a sizable improvement from the previous fiscal year ending April 30, 2009, when the company posted a net loss of 19 cents per share, or $1.08 million.
Over the course of the year, Mass Megawatts eliminated most of its remaining debt. The company also has more cash available for expanding its ongoing operations.
Additionally, Mass Megawatts is now financially poised to achieve their next goal of preparation for mass production of their MAT wind turbines. Mass Megawatts anticipates improved sales and contracts related to its new technology.
Read more wind turbine news at Wind Energy Industry Today:
Wind Turbine news – http://windenergy.einnews.com/news/wind-turbine
Located at http://windenergy.einnews.com, Wind Energy Industry Today is a wind energy news monitoring service from EIN News.
