Back-Up Power Providers Surpassing Expectations
PowerSecure International, Inc. (POWR), Comverge, Inc. (COMV), EnerNOC, Inc. (ENOC), and Titan Energy Worldwide, Inc. (TEWI) were just a few back-up power providers to beat analyst expectations in the third quarter as grid investments continue to come in the door.
Titan Energy Worldwide, Inc. [[TEWI.OB]], a leader in distributed power generation products and intelligent energy management services, reported record revenues of $3.3 million for the third quarter, and it continues to anticipate setting records this year and into 2010.Thomas Black, COO, added, “we anticipate improving sales numbers for the next 6 to 12 months.”
PowerSecure International, Inc. [[POWR]], a provider of Energy and Smart Grid Solutions and Energy Services to utilities, beat analyst expectations during the third quarter. The company reported earnings that increased 125% sequentially and a 10% increase in revenues. Meanwhile, the company also saw its gross margins reached an all-time high of 37% for the quarter.
Comverge, Inc. [[COMV]], a leading provider of clean energy solutions that improve grid reliability, reported a net loss of $9.4 million, or $0.44 per share, compared to a net loss of $81.8 million a year ago. Meanwhile, revenues increased 37% to $33.2 million as it now expects to meet or exceed its annual target for megawatts under management.
EnerNOC, Inc. [[ENOC]], a developer and provider of clean and intelligent energy solutions, reported its first profitable quarter as a public company and raised its guidance for 2009. Net income swung to a profit of $26.6 million, or $1.12 per share, on revenues that increased 134% to $103.1 million as sales and margins both increased.
Combined, these results demonstrate considerable strength in the clean and intelligent power distribution and generation industry. And with increasing government investment into the power grid, many experts believe this trend will only continue going forward.
CONTACT: Daniel Minton, Managing Director, 406-862-5400, daniel@accelerize.com