Consolidated Energy Posts $225,000 Quarterly Loss

Consolidated Energy Systems Inc., a Westlake Village provider of electrical and thermal power to commercial and institutional users, reported a net loss of $224,899 in its fiscal third quarter on revenue of $227,716. A year earlier, it lost $166,083 on $4,962 in revenue.

For the nine months ended March 31, Consolidated lost $367,375 compared with a year-earlier loss of $221,517, while its revenue increased fourfold to $834,500 from $200,282.

Consolidated said it is currently participating in 17 cogeneration projects, compared to six in 1989, and that it recently signed an agreement to develop a $5-million, 4,500-kilowatt cogeneration plant at an undisclosed location in the east.

Separately, Consolidated said its Decalux Development Inc. unit completed the purchase of 80% of the stock of Decade Technology Inc., a Simi Valley electronics concern with annual revenue of about $1.5 million. Consolidated owns 63% of Decalux, making its interest in Decade more than 50%. The remaining 20% of Decade’s stock will be retained by Michael Perry, Decade’s founder and chief executive who will remain with the company.

Decalux was capitalized with 400,667 shares of Consolidated’s unregistered common stock, Consolidated said, and about $250,000 in cash or cash equivalents. The cash and most of the stock were used to acquire Decade, it said, and to fund a stock incentive program at Decade.