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Fuel Tech's CEO Discusses Q2 2012 Results - Earnings Call Transcript

The information contained in this call is accurate only as of the date discussed and investors should not assume that statements made in this call remain operative at a later date. Fuel Tech undertakes no obligation to update any information discussed in this call and as a reminder, this call is being broadcast over the Internet and can be accessed at our website www.ftek.com.With that said, I would now like to turn the call over to Dave Collins. Dave, please go ahead.

David Collins

Thank you, Tracy and good morning everyone. We are thrilled with our recent International APC orders coming from both China and Chile and as a result are looking for improved revenue performance in Q3 and Q4 of this year. Through the end of the July, we have announced $50 million in new APC orders, including $16 million in China and $37 million in Chile. These orders will contribute significantly for our third and fourth quarter results. Optimism in the sluggish US domestic FUEL CHEM market and remaining regulatory uncertainty in our US domestic APC markets.

We remain bullish on our domestic APC opportunities, while we await regulatory clarity. Additionally, we are waiting for natural gas pricing and electric demand in the second half of this year to provide a stimulus for our domestic fuel connectivity.

I will provide some general guidance during my comments with this in understanding the impact to have in our overall business. Consolidated revenue for the June quarter and six months was $21 million and $46 million respectively, representing year-over-year increases of 10% and a 11%.

Net income was breakeven for the quarter and $1.6 million or $0.07 per diluted share for the six months. Our adjusted EBITDA for the six months was $4.6 million. Our revenue growth in the current quarter and six month is due to strong APC segment revenue, which has delivered a 38% increase over the prior year for the first six months.

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