PowerSecure (POWR) Wins $30 Million Award From Major Utility

PowerSecure just announced that it has been chosen to provide its infrastructure services to a large US utility, a contract worth approximately $30 million over the next three years. As part of an expansion in the relationship between PowerSecure and the utility, PowerSecure will help the utility remodel its distribution system to make it more reliable and efficient.

===> Click Here For Your FREE PowerSecure Analysis

PowerSecure plans to report the income as part of its revenue backlog when it reports earnings in August.

In a press release, Sidney Hinton, CEO of PowerSecure, commented on the news:

“We are excited about the opportunity to serve this major, well respected utility under an expanded, long-term arrangement. Our Utility Services team has worked extraordinarily hard to provide gold-standard service over the last twelve months, and we are strongly committed to continuing to deliver terrific services with lasting value. Our expected revenues under this new contract will add significantly to both our near and long-term backlog, increasing our confidence in 2010 and providing an early foundation of business for 2011 and 2012.”

Leave a Reply

Your email address will not be published. Required fields are marked *