Energy Recovery, Inc. Reports Earnings Results for the First Quarter Ended March 31, 2022
May 04, 2022 at 04:14 pm EDT
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Energy Recovery, Inc. reported earnings results for the first quarter ended March 31, 2022. For the first quarter, the company reported sales was USD 32.55 million compared to USD 28.94 million a year ago. Net income was USD 7.89 million compared to USD 6.87 million a year ago. Basic earnings per share from continuing operations was USD 0.14 compared to USD 0.12 a year ago. Diluted earnings per share from continuing operations was USD 0.14 compared to USD 0.12 a year ago.
Energy Recovery, Inc. is engaged in energy efficiency technology. The Company designs and manufactures solutions that provide cost savings through improved energy efficiency in commercial and industrial processes, with applications across several industries. Its segments include Water and Emerging Technologies. The Water segment develops, sales and supports PX, hydraulic turbochargers and pumps used in seawater desalination and wastewater treatment activities. The Emerging Technologies segment develops, sales and supports activities related to emerging technologies, such as the PX G1300 used in industrial and commercial refrigeration applications. Its solutions are marketed, sold in, or developed for, the fluid-flow and gas markets, such as seawater and wastewater desalination, natural gas, chemical processing and CO2-based refrigeration systems, under the trademarks ERI, PX, Pressure Exchanger, PX Pressure Exchanger (PX), Ultra PX, PX G, PX G1300, PX PowerTrain, AT, and Aquabold.