am on Jim Principal morning, and I to today. call Good I today Devin. the joining you, and here Pach, want with us Controller. Thank everyone our thank for Officer Financial
did address will Our of few predominantly our due second in business period sluggish quarter extended APC to in awards results new minutes. more an expectations, that detail not meet a I
reported operations of larger our in we year. from this charges, Absent operating from of net a onetime than the was our continuing did closed loss financial operations for operations quarter loss operations results we responsible were report of soon-to-be loss. for this the $XXX,XXX China from and core a quarter, first $XXX,XXX, the Although, China loss $XXX,XXX the $XXX,XXX slightly of losses
half make to completed our we of associated suspension will this activities towards progress continue We the that be expect the China the operations, in and with second the suspension substantially year. of
office. longer project As originating last call, work our are discussed our from no in we quarter’s Beijing
accounts our individuals completing focused sites the on and has have retained three solely fieldwork been few are of and office outstanding that activities remainder on customer at a primary receivable. closed, collecting Our we
XX year. $X.X XX, from XXXX, declined strong million receivable We during at March cash this of China from our had the second in China quarter. accounts collections And outstanding by June
and down million we in from profit operating annual $X loss our approximately As removed losses wind will have we statement. these operations,
some as canceled of and APC secure contract expected the have a by activity delayed the we in year half potential the slower had bids. of the been hoped during couple or of to contracts lost competing has to clients first been than instances,
in are $XXX aggregate, million a active. of to tracking the the global on million Our the project do basis, and to close we new $XX sales contract pipeline approximately in We year. quarter remains work. on third the awards still during And expect potential remainder
our in during well performed a with revenue On the increase and prior FUEL quite more note, profitability an second quarter year. positive business the versus CHEM
installed successfully domestic and additional two we units quarter, on the quarter program this performance. coal-fired utility, at CHEM solid to second our a During contributed FUEL our
a expect XXXX, FUEL to we show half over respect the the of the to CHEM’s improvement year. performance With modest second of half first
source Europe, are and our FUEL using of biomass RECOVERY outside where CHEM in Southeastern to we is is solid we related partner on papyrus pricing demand primary in Southeast issue. the via where our where and are applications Asian pursue continuing In of slagging U.S. industry, focusing high, power fuel, are following municipal coal paper geographies for an Asia, the waste CHEM program; and We the opportunities; and in pulp countries, where is and and other Amazon
and Moving statement. down the loss profit
can that income $XXX,XXX SG&A restructuring in operating of times we have to will weaker where XXXX. mitigate The periods Our revenue approximately years revenue in have three from leveraged efforts us generate an provided these past be generation. generation with QX SG&A improved of operating by completed or declined over profile losses
XX% in recognized XX% Consolidated and XXXX, from second mix of to of gross year. APC margin an the quarter XXXX, in improvements between significantly the QX quarter revenues APC margin QX was CHEM reflecting approximately and up in FUEL during to this of the from XX% gross
we $XX.X debt was quarter, remain end of and the the at Total free. approximately million cash
details and shortly. balance new a with with our credit restricted Our now the reduction this reflecting will discuss customers. of agreements new cash Harris credit BMO is outstanding arrangement, in of letters Jim reduced, existing
thus of this minutes Now this I’d global our far expectations to is fallen that to as our a APC take has like it discuss platform few year. area short
and loss. negatively mentioned APC delays, domestically, have As cancellations one project been we previously, project by impacted by
in of unusual. are three been time now expecting business business for They we impact we the of in did, none general the however, the year a have that APC activities overall this activity. when decades and us first a were at experienced in We increase half
That driven turbine new steadily by permits for systems SCR regulatory said, gas and and increased, for ULTRA have retrofit units demands requirements.
We involved an manufacturers heat on are actively with this integrators suppliers, to system market turbine recoveries generator in team capitalize the the overall trend. and effort
cycle consistent seeing plant in also are small-to-medium many turbine combined a such hospital universities We and projects gas power complexes. combined heat large new the as and of flow upgrades
used our opportunities improved plants also ULTRA and a focused distributed site steam plant where combined is power include with relationships The for needed are heat and we to suppliers, processed boiler on efficiency. industrial generation package SCR also and building where energy Here, systems. at locations is supply
continuing various industries to work country are term pursue in that economic this conditions. from We have with benefited favorable recent
this the industry and for both trending seeing and are have with plant new entities whereby in in country, been steel their metals has we higher-quality modernizing retrofits committed is for driving other construction line a that where example One demand greenfield projects connection plants. to
development. for leverage great and relationships We expect with to these relationships have steel industry, product the new historically, had
South processing, Los will certain of Another and field smaller Angeles, require Effective units SCR from require Bernardino include portion Management Orange trend pursuant retrofit-controlled certain well applications. establishing states sources as an includes incinerators example, are turbines sources that individual seeing are power emissions. Air that guidelines District, which modifications technology for available as regulatory Coast that Southern Riverside existing to County, best is counties recent to the on California, new and of of expedited boiler refineries, directives for may In San generation. Quality install we implementation and schedules as to all systems SCRs waste new
performance. for small Angeles ULTRA our area direct ULTRA guidelines system is from one believed years second were is to the is target NOx line best system, injection in now Europe, Eastern August dependent In through levels. and European which available systems in technology BREF, adoption replace have urea demonstration three especially time because will With The a countries. be injecting as line to funding to current compliance a issued reduced guidelines Los XXXX, in are respect sources, emissions their reference by It extended our on XXXX. of this that that generally slow – time existing performing we the poor
level XXXX within by heat European steam new in pursuing the Western in gas Europe clients active both market from thus companies Europe supply European of come been being generally recovery inquiries units and and supplied have in and The Europe ULTRA in far in to have inquiries remains of and outside new generators. turbines The high projects the and internationally. limited
there biomass and included companies year to potential Europe received waste SCR on boilers. an for European ULTRA due upgraded compliance some system industrial units both energy units, EPC delivery ammonia award to to earlier by the project activity outside and for delivery upgrades The new of Kong. Hong being have this We or boiler new UK, uncertainty inquiries an Brexit. for are systems in supplied utility and In and
India. opportunities in We continue agreements to our with licensing pursue associated
prior initial remediation compliance of and Although, government from we prioritized importance. in time have mentioned off as Indian the quarters, lines targets backed order in
First, finally, and then particulate SOx NOx. matter,
present particulate-control capitalize technology will hybrid ESP Tech it bag Fuel as this adoption filter and on technology that in for low-cost, to of highly opportunity this to an likely compared Flue Conditioning that slow. be effective marketplace technology believe a we our While will showcase and Gas systems,
NOx has systems SNCR up of pre-XXXX commence RFQs XXXX now per demonstrations the concluded for picked year. government plants. for a obtain requirement the as for are cubic to maintains XXX-milligram meter If inquiry in of would level to the SNCR see Indian at to the expect The technology before NTPC normal end we target, units
business, industries, potential advance Gas on and customers pulp and multiple the Dissolved and gas a industry Technology our across with paper variety primary industry. a oil to Regarding we of conversations continue the currently Water with focus Infusion
problems and selling looking our can are on we discovery identification the add that to in efforts, In basis aid addition experts specific a DGI system to matter own address. of consulting subject our to
far, been Our venture however, necessary overall thus ensure investment be that with investment has to incremental we pace. forward will in this modest move
oil becoming is – more and via the produced a now in issue. region fate are is disposal considerations for water production The note or due Permian costs wells truck wells It remote permit disposal fracking, reused to severe important world disposal the either to Basin seismic becoming for difficult to transportation – economic and is the or to are that wells recycling. or pipeline more either largest
can removal; aerobic that and metals The specific address water respect With solids; include: sulfide hydrogen suspended basins pulp DGI total along to paper. keeping time. with and issues over
part U.S. ours of in of actively the a focused are we analysis midsized as Midwest the production facility, currently and long-standing phase. also which data incorporating in in water industry, the paper engaged new are the customer in are review facility is we engineering customers’ treatment planning same We a DGI And where with application on for technology engaged and
Tech. ongoing I closing, to again Fuel we for financially. you want struggling thank interest your One were ago, year In once in
Our available second was operating had and cash XXXX. million at in global the diminishing, cash quarter end of of the $XX.X we
we bookings of remainder were were source for on verge and as operation of to China. XXXX, taking wind we decision our the the down the Additionally, to uncertain of in the
of down the with Today, strong. of cash, $XX million our wind remains quarter our second The successfully liquidity has operation thus China stabilized. and in has global We gone balance ended sheet approximately far. XXXX
million in $X $X are in annual likely repatriate. from loss profit we available will approximately to to our losses eliminated and have million and cash have million $X statement, We to operating
successfully permitting, and FUEL these portion and units installed units a coal-fired at We new and good months. run CHEM weather of summer for will winter demand year this the two
the become economy the U.S. favorable Lastly, U.S. for for business, in favorable regulatory has fossil modestly remains and expansion fuels. further landscape the general, more of
challenges have that opportunity we said, All of longer-term near-term APC the and that business, remain in accept confident we our at a recognize but we landscape.
orders. outlook for APC efforts leverage to year years, enable shifted continuing generating a few our that via delay this restructuring these current us result operations our from over the as although performance, our we of income XXXX, created weather in will past operating our For has have
goal. team as remain that I and and goal will profitability is successful flow, as generation the achievement the cash and company in be a Fuel Tech of Our this a sustained of team the confident
turn I’ll to over of our for financial Jim please Jim, ahead. Now, discussion a go things results.
