Powersecure (POWR) reported mixed results last night.  The company reported a non GAAP EPS of .02 which includes financials of the recently sold Southern Flow division (which led to a big pop in the stock Wednesday).  That EPS number was better than the flat quarter analysts expected, but the company missed just a bit on the revenue side posting $26.5 million vs the analyst estimate for $27.6 million.  However, the record revenue backlog of $150 million may overshadow the slight revenue miss this quarter. 

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Here are some highlights of comments made by CEO Sidney Hinton:

– 42% gross margin very strong

– attributed lower rev number to more recurring revenue and softness in the retail sector

– order volume picked up significantly heading into 2011

No word on guidance at this time.

Shares of POWR look increasingly bullish down here particularly with the strong high volume move of Wednesday.  With much of that gain given back yesterday, it may prove to be a compelling entry point around current levels.  I’ll be watching to see how the stock trades in the first 30 minutes and possibly pull the trigger on a trade.