Magma Power Co. reported that net income...

Magma Power Co. reported that net income for the first quarter ended March 31 rose by 69% to $3.4 million, up from $1.9 million during the same quarter a year ago. Revenue rose 92%, to $13.3 million, up from $6.9 million.

Magma linked the improved performance to its 50% share of two newly constructed geothermal power plants. Magma owns geothermal leaseholds in California and Nevada, and designs and builds power plants.