Magma Power reported that net income rose by 15% to $2.6 million for the third quarter ended Sept. 30, up from $2.3 million during the same period the previous year. Revenue rose by 13% during the third quarter to $6.5 million, up from $5.7 million the year before.
Net income rose by 69%, to $6.9 million, for the nine-month period ended Sept. 30, up from $4.1 million the year before. Nine-month revenue rose by 29%, to $19.5 million, up from $15 million. The increases were driven by fee income from partnerships and interest income, according to the company.