A narrower 4th-quarter loss of Raser Technologies

NEW YORK

Raser Technologies Inc. on Wednesday posted a narrower fourth-quarter loss after a geothermal plant came online.

The Provo, Utah, energy technology company's quarterly loss was $5.8 million, or 7 cents per share. That compares with a loss of $23.8 million, or 39 cents per share, in the year-ago period. The number of shares outstanding in the recent quarter was 79.3 million, compared with 63.6 million in the 2008 quarter.

Revenue rose to $942,000 from $5,900.

During the second quarter of 2009, the company began selling electricity from its Thermo No. 1 plant to the city of Anaheim, Calif.

For the full year, the company lost $20.2 million, or 28 cents per share, versus a loss of $45.5 million, or 79 cents per share, a year before.

Revenue leapt to $2.2 million from $172,303 in 2008.

Shares of Raser added a penny to close at $1.02.