Attached files
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8-K - FORM 8-K - POWERSECURE INTERNATIONAL, INC. | c15283e8vk.htm |
Exhibit 99.1
PowerSecure International, Inc.
Consolidated Statements of Operations (unaudited)
Supplemental Financial Information Issued for 2009-2010 Quarterly Periods reflecting Southern Flow as Discontinued Operation
($000s except per share data, some rounding throughout)
Consolidated Statements of Operations (unaudited)
Supplemental Financial Information Issued for 2009-2010 Quarterly Periods reflecting Southern Flow as Discontinued Operation
($000s except per share data, some rounding throughout)
Three Months Ended | Year Ended | |||||||||||||||||||
March 31, | June 30, | September 30, | December 31, | December 31, | ||||||||||||||||
2010 | 2010 | 2010 | 2010 | 2010 | ||||||||||||||||
Revenue |
20,460 | 29,733 | 26,316 | 21,005 | 97,514 | |||||||||||||||
Cost of sales |
12,351 | 20,000 | 17,747 | 12,122 | 62,220 | |||||||||||||||
Gross Profit |
8,109 | 9,733 | 8,569 | 8,883 | 35,294 | |||||||||||||||
Operating expenses |
||||||||||||||||||||
General and administrative |
6,462 | 7,326 | 7,388 | 8,163 | 29,339 | |||||||||||||||
Selling, marketing, and service |
1,046 | 1,348 | 1,383 | 1,377 | 5,154 | |||||||||||||||
Depreciation and amortization |
584 | 671 | 756 | 743 | 2,754 | |||||||||||||||
Total operating expenses |
8,092 | 9,345 | 9,527 | 10,283 | 37,247 | |||||||||||||||
Operating income (loss) |
17 | 388 | (958 | ) | (1,400 | ) | (1,953 | ) | ||||||||||||
Other income (expense) |
||||||||||||||||||||
Equity income |
1,030 | 807 | 598 | 747 | 3,182 | |||||||||||||||
Management fees |
154 | 142 | 136 | 151 | 583 | |||||||||||||||
Interest income and other income |
30 | 23 | 24 | 22 | 99 | |||||||||||||||
Interest expense |
(141 | ) | (139 | ) | (177 | ) | (162 | ) | (619 | ) | ||||||||||
Income (loss) before income taxes |
1,090 | 1,221 | (377 | ) | (642 | ) | 1,292 | |||||||||||||
Income tax benefit (provision) |
(205 | ) | (228 | ) | (42 | ) | (51 | ) | (526 | ) | ||||||||||
Net income (loss) from continuing operations |
885 | 993 | (419 | ) | (693 | ) | 766 | |||||||||||||
Discontinued operations income from operations (net of tax) |
519 | 291 | 777 | 956 | 2,543 | |||||||||||||||
Discontinued operations gain on sale (net of tax) |
0 | 0 | 0 | 0 | 0 | |||||||||||||||
Net income (loss) |
1,404 | 1,284 | 358 | 263 | 3,309 | |||||||||||||||
Net income attributable to noncontrolling interest |
(187 | ) | 40 | 132 | 168 | 153 | ||||||||||||||
Net income (loss) attributable to PowerSecure International, Inc. |
1,217 | 1,324 | 490 | 431 | 3,462 | |||||||||||||||
Summary of Amounts Attributable to PowerSecure
International, Inc. shareholders |
||||||||||||||||||||
Income from continuing operations (net of tax) |
698 | 1,033 | (287 | ) | (525 | ) | 919 | |||||||||||||
Income from discontinued operations (net of tax) |
519 | 291 | 777 | 956 | 2,543 | |||||||||||||||
Net income (loss) attributable to PowerSecure International, Inc. |
1,217 | 1,324 | 490 | 431 | 3,462 | |||||||||||||||
EARNINGS PER SHARE AMOUNTS (E.P.S) ATTRIBUTABLE TO
POWERSECURE INTERNATIONAL, INC. SHAREHOLDERS: |
||||||||||||||||||||
Continuing Operations |
||||||||||||||||||||
Basic |
0.04 | 0.06 | (0.01 | ) | (0.03 | ) | 0.05 | |||||||||||||
Diluted |
0.04 | 0.06 | (0.01 | ) | (0.03 | ) | 0.05 | |||||||||||||
Discontinued Operations |
||||||||||||||||||||
Basic |
0.03 | 0.01 | 0.04 | 0.05 | 0.14 | |||||||||||||||
Diluted |
0.03 | 0.01 | 0.04 | 0.05 | 0.14 | |||||||||||||||
Net Income |
||||||||||||||||||||
Basic |
0.07 | 0.07 | 0.03 | 0.02 | 0.19 | |||||||||||||||
Diluted |
0.07 | 0.07 | 0.03 | 0.02 | 0.19 | |||||||||||||||
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING |
||||||||||||||||||||
Basic |
17,237 | 17,933 | 18,640 | 18,701 | 18,133 | |||||||||||||||
Diluted |
17,692 | 18,566 | 18,640 | 18,701 | 18,603 | |||||||||||||||
PowerSecure International, Inc.
Consolidated Statements of Operations (unaudited)
Supplemental Financial Information Issued for 2009-2010 Quarterly Periods reflecting Southern Flow as Discontinued Operation
($000s except per share data, some rounding throughout)
Consolidated Statements of Operations (unaudited)
Supplemental Financial Information Issued for 2009-2010 Quarterly Periods reflecting Southern Flow as Discontinued Operation
($000s except per share data, some rounding throughout)
Three Months Ended | Year Ended | |||||||||||||||||||
March 31, | June 30, | September 30, | December 31, | December 31, | ||||||||||||||||
2009 | 2009 | 2009 | 2009 | 2009 | ||||||||||||||||
Revenue |
15,215 | 20,671 | 23,579 | 25,961 | 85,426 | |||||||||||||||
Cost of sales |
10,441 | 13,629 | 14,316 | 15,845 | 54,231 | |||||||||||||||
Gross Profit |
4,774 | 7,042 | 9,263 | 10,116 | 31,195 | |||||||||||||||
Operating expenses |
||||||||||||||||||||
General and administrative |
5,525 | 5,572 | 5,945 | 7,127 | 24,169 | |||||||||||||||
Selling, marketing, and service |
826 | 957 | 982 | 1,162 | 3,927 | |||||||||||||||
Depreciation and amortization |
481 | 497 | 583 | 583 | 2,144 | |||||||||||||||
Total operating expenses |
6,832 | 7,026 | 7,510 | 8,872 | 30,240 | |||||||||||||||
Operating income (loss) |
(2,058 | ) | 16 | 1,753 | 1,244 | 955 | ||||||||||||||
Other income (expense) |
||||||||||||||||||||
Equity income |
477 | 401 | 429 | 860 | 2,167 | |||||||||||||||
Management fees |
105 | 98 | 106 | 138 | 447 | |||||||||||||||
Interest income and other income |
52 | 39 | 36 | 34 | 161 | |||||||||||||||
Interest expense |
(174 | ) | (145 | ) | (144 | ) | (144 | ) | (607 | ) | ||||||||||
Income (loss) before income taxes |
(1,598 | ) | 409 | 2,180 | 2,132 | 3,123 | ||||||||||||||
Income tax benefit (provision) |
0 | (2 | ) | (407 | ) | 78 | (331 | ) | ||||||||||||
Net income (loss) from continuing operations |
(1,598 | ) | 407 | 1,773 | 2,210 | 2,792 | ||||||||||||||
Discontinued operations income from operations (net of tax) |
496 | 610 | 430 | (23 | ) | 1,513 | ||||||||||||||
Discontinued operations gain on sale (net of tax) |
0 | 0 | 0 | 0 | 0 | |||||||||||||||
Net income (loss) |
(1,102 | ) | 1,017 | 2,203 | 2,187 | 4,305 | ||||||||||||||
Net income attributable to noncontrolling interest |
(34 | ) | (331 | ) | (549 | ) | (598 | ) | (1,512 | ) | ||||||||||
Net income (loss) attributable to PowerSecure International, Inc. |
(1,136 | ) | 686 | 1,654 | 1,589 | 2,793 | ||||||||||||||
Summary of Amounts Attributable to PowerSecure International,
Inc. shareholders |
||||||||||||||||||||
Income from continuing operations (net of tax) |
(1,632 | ) | 76 | 1,224 | 1,612 | 1,280 | ||||||||||||||
Income from discontinued operations (net of tax) |
496 | 610 | 430 | (23 | ) | 1,513 | ||||||||||||||
Net income (loss) attributable to PowerSecure International, Inc. |
(1,136 | ) | 686 | 1,654 | 1,589 | 2,793 | ||||||||||||||
EARNINGS PER SHARE AMOUNTS (E.P.S) ATTRIBUTABLE TO
POWERSECURE INTERNATIONAL, INC. SHAREHOLDERS: |
||||||||||||||||||||
Continuing Operations |
||||||||||||||||||||
Basic |
(0.10 | ) | 0.00 | 0.07 | 0.09 | 0.07 | ||||||||||||||
Diluted |
(0.10 | ) | 0.00 | 0.07 | 0.09 | 0.07 | ||||||||||||||
Discontinued Operations |
||||||||||||||||||||
Basic |
0.03 | 0.04 | 0.03 | 0.00 | 0.09 | |||||||||||||||
Diluted |
0.03 | 0.04 | 0.02 | 0.00 | 0.09 | |||||||||||||||
Net Income |
||||||||||||||||||||
Basic |
(0.07 | ) | 0.04 | 0.10 | 0.09 | 0.16 | ||||||||||||||
Diluted |
(0.07 | ) | 0.04 | 0.09 | 0.09 | 0.16 | ||||||||||||||
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING |
||||||||||||||||||||
Basic |
17,095 | 17,159 | 17,218 | 17,232 | 17,177 | |||||||||||||||
Diluted |
17,095 | 17,159 | 17,467 | 17,701 | 17,343 | |||||||||||||||