Magma Power Posts 15% Rise in Third-Quarter Net Income

Magma Power Co. reported that third-quarter net income rose by 15%, to $2.3 million from $1.9 million during the same quarter in the previous year. Revenue rose by 7.8%, to $5.5 million from $5.1 million during the previous third quarter.

Net income for the nine-month period rose to $4.1 million, from $1 million during the previous nine-month period. Revenue rose by 32.9%, to $14.7 million from $10.9 million.