Key Developments: Ameresco Inc (AMRC.N)
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Latest Key Developments (Source: Significant Developments)
Ameresco Inc Acquires ESP and Expands Enterprise Energy Management Services
Ameresco Inc announced that it has acquired ESP, an energy management consulting company consisting of the Energy Services Partnership and ESP Response, located in Castleford, United Kingdom. With this acquisition, Ameresco adds a local presence in the UK, expertise and seasoned energy industry professionals to support multi-national Enterprise Energy Management (EEM) customers. Terms of the transaction were not disclosed. Full Article
Ameresco Inc Reaffirms FY 2013 Guidance
Ameresco Inc announced that for fiscal 2013, it expects to earn total revenue in the range of $620 million to $670 million. The Company also expects net income for fiscal 2013 to be in the range of $18 million to $22 million. According to I/B/E/S Estimates, analysts were expecting the Company to report revenue of revenue of $640 million and net income of $20 million for fiscal 2013. Full Article
Ameresco Inc Issues FY 2013 Guidance Below Analysts' Estimates
Ameresco Inc announced that for fiscal 2013, it expects to earn total revenue in the range of $620 million to $670 million. The Company also expects net income for fiscal 2013 to be in the range of $18 million to $22 million. According to I/B/E/S Estimates, analysts were expecting the Company to report revenue of revenue of $686 million and net income of $27 million for fiscal 2013. Full Article
Ameresco Inc Lowers FY 2012 Guidance
Ameresco Inc updated its fiscal 2012 guidance and expects revenue to be approximately $630 million and net income to be in the range of $17 to $19 million. According to I/B/E/S Estimates, analysts were expecting the Company to report revenue of revenue of $646 million and net income of $22.20 million for fiscal 2012. Full Article
Ameresco Inc Acquires Substantially All Assets Of Colorado Energy Services Provider Ennovate Corp
Ameresco Inc announced that it has completed the purchase of substantially all of the assets of Ennovate Corporation, an energy service company active throughout Colorado, Nebraska, Montana and Wyoming. Ennovate is currently serving customers that include schools, higher education facilities, municipalities and counties. Terms of the transaction were not disclosed. Full Article
Ameresco Inc Lowers FY 2012 Guidance
Ameresco Inc revised its guidance for fiscal 2012. The Company continue to experience a lengthening of backlog conversion times, and as a consequence, a portion of revenue that was previously expected to be recognized in the second half of 2012 is now not expected to be recognized until future periods. The Company now expects total revenue to be in the range of $640 million to $660 million; and net income in the range of $22 million to $26 million. According to I/B/E/S Estimates, analysts were expecting the Company to report revenue of revenue of $709 million and net income of $32 million for fiscal 2012. Full Article
Ameresco Inc Acquires FAME Facility Software Solutions Inc.
Ameresco Inc announced that it has acquired FAME Facility Software Solutions Inc. FAME, provider of asset management solutions, helps customers assess the condition of their facilities, plan energy management and capital improvements, and refine operations and maintenance strategies. FAME Facility Software allows customers to track their operation’s workflow and energy use and manage their capital renewal processes. The addition of FAME’s software capabilities to Ameresco’s Asset Sustainability platform will provide an enhanced offering to those charged with managing complex infrastructure portfolios. Operations will continue from FAME’s Calgary, Canada location. Terms of the transaction were not disclosed. Full Article
Ameresco Inc Lowers FY 2012 Guidance
Ameresco Inc revised guidance for fiscal 2012. As stated previously, guidance assumed continued improvement in the environment for converting awarded projects to signed contracts for the balance of the year. While awarded projects are converting into signed contracts in many regions as expected, it has experienced a lengthening of backlog conversion times in a few segments, and as a consequence, a portion of revenue that was previously expected to be recognized in the second half of 2012 is now expected to be recognized in 2013. The Company now expects total revenue to be in the range of $695 million to $730 million; and net income in the range of $32 million to $35 million. According to I/B/E/S Estimates, analysts were expecting the Company to report revenue of revenue of $811 million and net income of $39 million for fiscal 2012. Full Article
Ameresco Inc To Implement $3.7 Million In Energy Efficiency Improvements In Historic Farmington, Connecticut
Ameresco Inc announced that it has entered into an Energy Savings Performance Contract (ESPC) with the Town of Farmington, Connecticut. As part of the ESPC, Ameresco will construct and implement $3.7 million in energy efficiency measures at 22 facilities town-wide. Once complete, the measures are expected to save Farmington more than $245,000 annually over the contract`s 16-year term. Full Article
Ameresco Inc Reaffirms FY 2012 Guidance
Ameresco Inc reaffirmed fiscal 2012 guidance and expects revenue to be in the range of $800 million to $825 million and net income in the range of $39.5 million to $42.5 million. The guidance assumes continued improvement in the environment for converting awarded projects to signed contracts for the balance of the year. According to I/B/E/S Estimates, analysts were expecting the Company to report revenue of revenue of $803 million and net income of $41 million for fiscal 2012. Full Article
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