Global Thermoelectric Inc. (Calgary, Canada) announced its first-quarter 2002 results. Revenue from thermoelectric generator sales and service for the quarter ended March 31, 2002, was $4.5 million, compared to $6.3 million for the first quarter of 2001.
The gross margin from continuing operations was $1.6 million, or 35 percent of revenue in the quarter, compared to $2.2 million, or 35.1 percent of revenue for the quarter ended March 31, 2001. The company reported $0.7 million of investment income in the quarter from cash and short-term investments, compared to $1.9 million in the first quarter of 2001.
