Orbital energy group reports record revenues in the fourth quarter of $41.0 million and record backlog of $523.7 million

Revenue and backlog increases of 65% and 28%, respectively from the third quarter of 2021 houston , march 30, 2022 /prnewswire/ -- orbital energy group, inc. (nasdaq: oeg) ("orbital energy" or the "company") today reported its financial results for the three months and twelve months ended december 31, 2021. fourth quarter summary revenues of $41.0 million, compared to $24.8 million in the prior quarter and $7.6 million for the fourth quarter of 2020; loss from continuing operations, net of income taxes of $15.7 million compared to a loss of $9.5 million in the prior quarter and a loss of $6.3 million in the fourth quarter of 2020; adjusted ebitda loss from continuing operations of $1.2 million compared to a loss of $7.0 million in the prior quarter and a loss of $3.2 million in the fourth quarter of 2020; acquired front line power construction, llc ("front line power") and full moon telecom, llc ("full moon"); industry veteran, nick grindstaff, joins as chief financial officer; repositioned orbital gas systems as discontinued operations and held for sale.
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