Last $2.26 USD
Change Today -0.08 / -3.42%
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As of 8:10 PM 12/19/14 All times are local (Market data is delayed by at least 15 minutes).

lime energy co (LIME) Key Developments

Lime Energy Co Announces Unaudited Consolidate Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014; Provides Sales Guidance for the Second Half of 2014 and Full Year of 2015; Reiterates Earnings Guidance for the Fourth Quarter and Full Year of 2014

Lime Energy Co announced unaudited consolidate earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported revenue of $15.6 million, up 16.7% from $13.35 million in the same quarter last year. The increase over third quarter of 2013 was primarily due to higher revenue from Duke Progress program in the Carolinas, which was still ramping up during the third quarter of 2013. Operating loss was $37,000 against $1,994,000 a year ago. Loss from continuing operations was $45,000 against $3,511,000 a year ago. Net income was $91,000 against net loss of $3,840,000 a year ago. Net loss available to common stockholders was $430,000 against $3,862,000 a year ago. Basic and diluted loss per common share from continuing operations was $0.15 against $0.98 a year ago. Basic and diluted loss per common share was $0.11 against $1.07 a year ago. Adjusted EBITDA was $186,000 against adjusted LBITDA of $1,618,000 a year ago. EBITDA was $276,000 against LBITDA of $2,062,000 a year ago. For the nine months, the company reported revenue of $41,456,000 against $37,513,000 a year ago. Operating loss was $1,469,000 against $7,072,000 a year ago. Loss from continuing operations was $1,438,000 against $9,085,000 a year ago. Net loss was $1,251,000 against $12,589,000 a year ago. Net loss available to common stockholders was $3,725,000 against $12,611,000 a year ago. Basic and diluted loss per common share from continuing operations was $1.05 against $2.53 a year ago. Basic and diluted loss per common share was $1.00 against $3.50 a year ago. Adjusted LBITDA was $686,000 against $5,787,000 a year ago. EBITDA was $736,000 against LBITDA of $9,783,000 a year ago. Net cash used in operating activities consumed $8.2 million compared to consuming $3.3 million during the year-earlier period, representing a decrease in cash of $4.9 million or 148.5% over the prior year period. For the balance of 2014, the company expects revenue from energy efficiency business to show a 22.3% growth over the revenues from energy efficiency business in 2013. The company reiterates that it is projecting profitability in fourth quarter and profitability for the full year 2014. The company anticipates that revenue will grow in fourth quarter and that will hit target of finishing 2014 with over $60 million in revenue. The company expects gross margin will improve slightly over the remaining quarter of 2014. The company expects revenue for the second half of the year will exceed the revenue for the first six months with revenue peaking during the fourth quarter. Further, the company projecting $80 million in revenue for 2015 based on the anticipated continuation of all existing programs.

Lime Energy Co. to Report Q3, 2014 Results on Nov 12, 2014

Lime Energy Co. announced that they will report Q3, 2014 results at 4:30 PM, US Eastern Standard Time on Nov 12, 2014

Lime Energy Co., Q3 2014 Earnings Call, Nov 12, 2014

Lime Energy Co., Q3 2014 Earnings Call, Nov 12, 2014

Lime Energy Co. Appoints Tommy Mike Pappas as Director

On September 23, 2014, the Board of Directors of Lime Energy Co. appointed Tommy Mike Pappas, CPA, to serve as a director of the company. Mr. Pappas is currently the Managing Director of The Hurvis Group.

Lime Energy Co. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Provides Earnings Guidance for the Third Quarter of 2014

Lime Energy Co. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company's revenue was $13,590,000 compared to $12,943,000 a year ago. Operating loss was $252,000 compared to $1,669,000 a year ago. Loss from continuing operations was $229,000 or $0.19 per basic and diluted share compared to $1,918,000 or $0.53 per basic and diluted share a year ago. Net loss available to common stockholders was $660,000 or $0.18 per basic and diluted share compared to $2,046,000 or $0.57 per basic and diluted share a year ago. Adjusted LBITDA was $6,000 compared to $1,211,000 a year ago. LBITDA was $16,000 compared to $1,533,000 a year ago. Adjusted EBITDA excluding one-time restatement and legal costs was $300,000 compared to adjusted LBITDA excluding one-time restatement and legal costs of $924,000 a year ago. For the six months, the company's revenue was $25,871,000 compared to $24,159,000 a year ago. Operating loss was $1,432,000 compared to $5,077,000 a year ago. Loss from continuing operations was $1,393,000 or $0.89 per basic and diluted share compared to $5,573,000 or $1.55 per basic and diluted share a year ago. Net loss available to common stockholders was $3,294,000 or $0.88 per basic and diluted share compared to $8,749,000 or $2.43 per basic and diluted share a year ago. Adjusted LBITDA was $872,000 compared to $4,169,000 a year ago. LBITDA was $1,011,000 compared to $7,721,000 a year ago. Adjusted LBITDA excluding one-time restatement and legal costs was $277,000 compared to $2,604,000 a year ago. Lime Energy provided earnings guidance for the third quarter of 2014. The company remains poised to make a profit in the third quarter through a combination of cost cutting and increased revenue from expanded contracts with power utilities.

 

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