Ocean Power Tech (OPTT), a wave energy upstart reported earnings this morning well below analyst estimates.  While the company reported a record order book, rising from 3.7 million last year to 8 million this year, the interim losses mounted due to higher costs as the company continues to pour money into research.

OPTT posted revenues of $700K which is significantly lower from the year ago quarter when it posted 1.7 million.  They attributed the lack … Read the rest