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.
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PowerSecure plans to report the income as part of … Read the rest
PowerSecure just announced that it is releasing a new product: an LED light for the utility market. Made to light up streets and sidewalks, the light boasts the following benefits: 2/3 less energy consumption, 5 times longer life (which reduces maintenance costs), and improved quality of light with minimal light pollution.
The company has already received its first order for the product from a large electric cooperative. The cooperative has ordered 200 of the lights… Read the rest
PowerSecure (POWR) reported terrific growth after the bell today, but compared to what Wall St was estimating, the results were mixed. The company beat on the EPS side posting a non GAAP EPS of .07/share vs the estimate of .06/share, while revenues didn’t quite meet expectations at $24.7 million. It’s still a great quarter with revenues increasing 25% and EPS increasing 200% over the year ago quarter. However, that was priced into the stock when … Read the rest
PowerSecure just announced that it has acquired a majority interest in Innovative Electronic Solutions Lighting, LLC as part of an effort to further the growth of its EfficientLights LED lighting business. The acquisition will allow Powersecure to develop new products more effectively and get them out on the market faster.
To complete the acquisition, PowerSecure paid $4.4 million in cash for a 2/3 controlling interest in IES. The remaining 1/3 of shares are owned by … Read the rest
I wasn’t able to track all the latest and greatest in the world of green stocks yesterday, so getting this out a bit late. PowerSecure (POWR) surged nearly 10% yesterday with heavy volume off its 200 day moving average after issuing a press release stating the company is off to a rip roaring start here in 2010. They announced a total of $35 million in new business landed in late December, early Jan for smart … Read the rest
PowerSecure (POWR) has been awarded a multi year contract by Flint Energies to deploy a “green” landfill methane gas power system in Georgia. POWR will install, own and operate the system which turns methane gas into energy. The company expects to be finished with the project late next year and begin recognizing revenue in 2011. The project increases the company’s recurring revenue backlog by 35% to $50 million.
Shares of POWR aren’t moving much on … Read the rest
We’ve seen very good results from the smart grid players Echelon (ELON) and EnerNOC (ENOC) and Powersecure (POWR) posted a Wall St beating quarter as well. I won’t say it was a great quarter because revenues (down 17%) and earnings (down 47%) declined over the year ago quarter, but a beat is a beat and the company did acknowledge that in the year ago quarter they completed a large number of projects for Publix Supermarkets … Read the rest
PowerSecure International (POWR) has announced $12 million in new orders which include orders for smart grid power systems and new utility infrastructure projects. The new orders represent roughly 30 – 40% of what the company brings in each quarter in revenues, so not a huge order but significant. Revenue will be recognized once the projects are completed which the company expects to happen beginning in the 4th quarter of this year and continue through the … Read the rest
PowerSecure (POWR) is announcing a total of around $12 million in new business with $11 million of that to be completed within the next near and the rest being longer term recurring revenue to be recognized over the next five years. No word on who the customer is, but PowerSecure will provide its smart grid enabled power systems to support critical municipal infrastructure and manufacturing facilities and will incorporate PowerSecure’s NexGear switches, providing connection to … Read the rest
PowerSecure Intl (POWR) is announcing $10 million in new orders from utilities and businesses for its smart grid and efficient LED lighting systems. Orders include:
– Interactive Distributed Generation (IDG) Systems: smart grid enabled distributed generation systems supported by PowerSecure’s monitoring team who forecast peak electricity demand and deliver more efficient power when needed and ensure customers are protected against power loss
– NexGear Systems: switchgear systems and electronic controls to connect the grid to … Read the rest