09:57 AM EST - Alterra Power Corp. : announced that its Icelandic subsidiary, HS Orka, today released audited financial and operating results for the 12-month period ended December 31, 2012. Highlights: EBITDA increased by 6.7% to ISK 2,857 million (2011: ISK 2,678 million) primarily due to a reduction of non-recurring expenses in 2012 related to the Nordural contract arbitration. In U.S. dollars, EBITDA decreased by 0.9% to $22.9 million (2011: $23.1 million) as the Icelandic Krona weakened in 2012 against the U.S. dollar with the average exchange rate for 2012 being 7.8% weaker than in 2011. Revenue decreased by 14.1% to $55.0 million (2011: $64.0 million). Gross profit decreased by 13.2% to $18.3 million (2011: $21.1 million). Alterra Power Corp.
shares T.AXY are trading down $0.005 at $0.38.
