Yes and no. It may depend on further government spending and...

Yes and no. It may depend on further government spending and support for the 'green' economy. The keyword here, I believe, is 'may'. Hopefully we will have a clearer picture of things to come by the end of the year after Copenhagen???

This is my take on QTM's report:

The company earned a profit of $7,210,308 before tax for the three month period 1 July to 30 September 2009 principally as a result of heat pump operations.

The heat pump business results are influenced by government cash support... (Lack of support is) adversely affecting the results and is expected to continue into the next quarter which may result in a further deterioration of profitability.

Note it also impacts on other 'green' technology.