December 22, 2014 4:14 AM ET

Electrical Equipment

Company Overview of XZERES Corp.

Company Overview

XZERES Corp. designs, develops, and markets small wind turbine systems and related equipment for electrical power generation. The company offers grid connected and off grid wind turbine systems, which consist of 2.4 kilowatts and 10 kilowatts devices and related equipment for electrical power generation applications and markets, such as residential, micro-grid based rural and island electrification, agricultural, small business, and rural electric utility systems, as well as other private, corporate infrastructure, and government applications. It also provides power management solutions for commercial and light industrial applications; and manufactures and sells power efficiency devices to s...

9025 SW Hillman Court

Suite 3126

Wilsonville, OR 97070

United States

Founded in 1984

37 Employees

Phone:

503-388-7350

Fax:

503-212-0109

Key Executives for XZERES Corp.

President and Director
Age: 61
Total Annual Compensation: $237.9K
Chief Operating Officer and Director
Age: 43
Total Annual Compensation: $156.0K
Executive Vice President of Engineering/Production
Total Annual Compensation: $247.9K
Compensation as of Fiscal Year 2014.

XZERES Corp. Key Developments

XZERES Corp. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended August 31, 2014; Provides Revenue Guidance for the Third Quarter Ending November 30, 2014

XZERES Corp. reported unaudited consolidated earnings results for the second quarter and six months ended August 31, 2014. For the quarter, the company reported gross revenues of $654,786 compared to $1,012,403 a year ago. Loss from operations was $2,313,737 compared to $2,265,086 a year ago. Net loss attributable to common stockholders was $3,040,600 or $0.07 per basic and diluted share compared to $1,947,019 or $0.07 per basic and diluted share a year ago. For the six months period, the company reported gross revenues of $1,156,733 compared to $1,143,790 a year ago. Loss from operations was $4,549,021 compared to $3,773,107 a year ago. Net loss attributable to common stockholders was $6,092,102 or $0.11 per basic and diluted share compared to $3,566,428 or $0.13 per basic and diluted share a year ago. The company expects its fiscal third quarter ending November 30, 2014 to record total gross revenues between $1.7 million and $2.5 million, which would represent an increase over the same year-ago quarter. The company also expects strong sequential growth following the fiscal third quarter.

XZERES Corp. Announces Executive Changes

XZERES Corp. has appointed R. Michael Williams as chief financial officer, succeeding Steven Shum who has been appointed chief operating officer and who will remain a company director. Williams brings more than 30 years of experience in finance and accounting for publicly traded and privately held manufacturing and distribution companies. He previously served as CFO of Dr. Bott. Prior to Dr. Bott, he was vice president of finance at Sonetics Corporation. He has also served as CFO of Silver Eagle Manufacturing Co. Before Silver Eagle, Williams was vice president of finance at HemCon Medical Technologies. Earlier in his career, he held controller positions at FEI Company, TRM Corporation, Williams Controls Industries, Gerber Legendary Blades Division of Fiskars, and Del Monte Foods.

XZERES Corp. Appoints David Hofflich as Chief Executive Officer and to the Board of Directors

XZERES Corp. has appointed David Hofflich as chief executive officer, succeeding Frank Greco who will remain president. Hofflich will assume Greco's board seat. Hofflich is a seasoned financial executive with more than 20 years of experience in multiple industries, including facets of the energy, manufacturing, and distribution.

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Recent Private Companies Transactions

Type
Date
Target
Private Placement
August 21, 2014
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