Dynetek Reports Losses over Hydrogen Investment

March 20, 2003 by Jeff Shepard

Dynetek Industries Ltd. (Calgary, Canada) reported that its full-year loss soared to $4.9 million as the company invested more in compressed natural gas and hydrogen infrastructure and research and development. The loss for the year ended December 31, 2002, amounted to $0.24 a share, compared with the previous year's loss of $1.16 million, or $0.06 a share. Revenue increased to $13.6 million from $11 million. In the fourth quarter, the company lost almost $2 million, or $0.10 a share, compared with a loss of $404,000, or $0.02 per share, a year earlier.