Once these most recent quarterly results are finalized, they will be run through TheStreet.com Ratings' model and our ratings will be adjusted accordingly. To keep up to date on all of our ratings, visit TheStreet.com Ratings Screener.

On April 15, 2009, Global Energy Holdings Group ( GNH), a diversified renewable energy company, reported that its Q4 FY08 net loss narrowed, helped by lower operating expenses. Net loss for the quarter stood at $6.16 million compared to a loss of $13.21 million in the prior year's quarter.

Total revenue plunged 98.5% to $38,000 from $2.61 million a year ago. Cost of sales declined 90.3% to $308,000 from $3.17 million. Moreover, general and administrative expenses increased 29.1% to $3.73 million from $2.89 million, while depreciation and amortization expenses remained flat at $19,000. Additionally, research and development expenses stood at zero compared to $183,000 in Q4 FY07. Finally, total operating expenses fell 48.5% to $6.49 million from $12.61 million in the year-ago quarter. As a result, Global Energy Holdings loss from operations decreased to $6.76 million from $13.18 million in the same quarter last year.

Recently, Global Energy Holdings Group Inc. sold all shares of common stock of New Generation Biofuels Holdings Inc. to 2020 Energy LLC. In addition, GNH's subsidiary, Global Energy Systems, entered into an agreement regarding the development of a landfill gas sequestration and energy facility at Cherokee County, Georgia's Zemel Road landfill. The company also acquired the right to purchase landfill gas produced at the Conley, Georgia-based Hickory Ridge landfill, which is owned and operated by Republic Services Inc.

For FY08, the company's total revenue plummeted 65.9% to $3.76 million from $11.04 million in the previous year. Net loss stood at $13.26 million, or $0.46 per share, compared to a loss of $31.28 million, or $1.09 million per share, in FY07.

If you liked this article you might like