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American DG Energy Reports 2013 Financial Performance
Revenue increases 32% compared to 2012



March 31, 2014

American DG Energy Inc. (NYSE MKT: ADGE), a leading On-Site Utility, offering clean electricity, heat, hot water and cooling solutions to hospitality, healthcare, housing and athletic facilities, reported unaudited financial results for fiscal year 2013. Total revenues were $7,461,880 in 2013, compared to $5,645,194 in 2012, an increase of 32%. GAAP diluted loss per share (EPS) was $(0.10) in 2013, compared to $(0.14) in 2012.

Major Highlights:

Financial

  • Energy revenue increased by 33% to $7,164,226 in 2013, compared to the same period in 2012.
  • Energy gross profit margin in North America without depreciation was over 36% in 2013.
  • Utility rates for thermal energy (such as natural gas) decreased approximately 10% and electricity rates decreased by 11% in the fourth quarter of 2013 compared to the same period in 2012, which lowered our energy revenue for the period.
  • The company received $285,718 of incentives in 2013.
  • We finished 2013 with approximately $9.8 million in cash.
  • The total revenue value of our On-Site Utility energy agreements since inception is approximately $300 million using various market assumptions and estimates made by the Company.
  • During June 2013, EuroSite Power issued 4% Senior Unsecured Convertible Notes Due 2015 and raised $4.0 million; $2.9 million from accredited investors and $1.1 million from conversion of an American DG Energy note.
  • During August and September of 2013, the company raised $965,001 in equity capital through private placements from a major shareholder and a member of the Board of Directors.
  • On August 15, 2013 shareholders of American DG Energy received a special dividend of an aggregate of 4,880,720 shares of EuroSite Power.

Click here to read the full press release.

For more information :

Organization:
American DG Energy Inc.
Address:
45 First Avenue
Waltham, Massachusetts
United States, 02451
www.americandg.com


Link http://www.electricenergyonline.com/detail_news.php?ID=476309
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