Renegy announces first-quarter earnings

Tempe, Ariz.-based Renegy Holdings Inc. posted total revenues of $347,000 for its first quarter of 2008, compared with total revenues of $496,000 during the same quarter last year. The costs of its fuel aggregation and wood products operations increased $639,000 in the past year. That was "primarily due to increases in the cost of shavings materials sold, impairment charges related to sawmill equipment and the level of expenses capitalized in inventory, partially offset by decreases in wood chips purchased, outsourced labor and fuel," the company said.