Fuel Tech Q3 net income $0.7M ($0.02/sh); FUEL CHEM rev up, APC down; cash $36.3M no debt

FUEL TECH, INC.

2021-Q3 EPS reported $0.01 revenue$17,810,000

Net income $0.7M ($0.02 diluted EPS) vs $2.4M ($0.10) in Q3 2020; prior year included $2.6M insurance settlement.
Revenue $7.6M, down from $8.2M; FUEL CHEM segment revenue rose to $5.6M from $5.3M; APC fell to $1.9M from $2.9M.
APC backlog $8.2M at Sep 30, 2021 vs $5.3M at Dec 31, 2020; sales pipeline increased to $50-75M.
Cash and equivalents $35.2M plus restricted $1.1M; no debt; stockholders' equity $46.4M ($1.53/sh).
Adjusted EBITDA $0.9M vs $2.7M; excluding settlement, prior year adj EBITDA was $0.1M.

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