FUEL TECH INC
			Symbol			FTEK

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Fuel Tech Reports Third-Quarter 2009 Results

2009-11-04 19:47 ET - News Release

Company Website: http://www.ftek.com
WARRENVILLE, Ill. -- (Business Wire)

Fuel Tech, Inc. (NASDAQ: FTEK), a world leader in advanced engineering solutions for the optimization of combustion systems and emissions control in utility and industrial applications, today reported results for the three- and nine-month periods ended September 30, 2009.

Third-Quarter 2009

Revenues for the third quarter totaled $16.5 million, a 30% decline from the comparable prior-year quarter. The net loss for the quarter was $0.7 million, or ($0.03) per diluted share, compared with net income of $2.1 million, or $0.09 per diluted share, in the same year-ago quarter.

The Air Pollution Control technology segment (APC segment) recorded revenues of $6.2 million, down 54% versus the third quarter of 2008. Weak economic conditions and continued uncertainty over the ultimate outcome of the Clean Air Interstate Rule (CAIR) restricted the flow of orders, and project timing resulted in reduced revenues for nitrogen oxide (NOx) control systems. Segment gross margins were 34% versus the 43% reported in the third quarter of 2008, primarily due to a pass-through catalyst sale at a nominal gross margin percentage and the timing of project milestones for other contracts that primarily involved lower margin revenue-generating activities, such as initial engineering design and project start-up activities, in support of APC projects.

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