As expected, Converted Organics (COIN) reported another healthy increase in quarter over quarter revenue growth and continues to narrow its quarterly loss.  The company reported an EPS loss .17 which is a big improvement over the .49 loss in the year ago quarter and the .27/share loss reported last quarter.  Revenues surged 80% to 900K and considering this quarter is typically their strongest, they should be able to crack the $1 million in quarterly revenue mark when it reports again in about 3 months. 

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President of COIN, Edward Gildea, commented: “Our top-line results for the first quarter reflect the success of our efforts to grow Converted Organics’ distribution network and expand the reach of our products in both the professional and consumer markets, as we increased sales 80% over the first quarter of 2009 while adding significant new retail and distribution partners and expanding our presence within existing channels.  The formation of Converted Organics of Mississippi and acquisition of a new line of poultry-based fertilizer products further enhances our already strong product portfolio and provides what we believe will become another important sales engine for the Company.”