Key Developments: PowerSecure International Inc (POWR.O)
15.78USD
18 Jun 2013
$0.04 (+0.25%)
$15.74
$15.80
$15.97
$15.61
174,401
209,923
$16.15
$4.05
Latest Key Developments (Source: Significant Developments)
Powersecure International Inc Increases Ownership Of Growing Solar And LED Businesses To 100%
Powersecure International Inc announced that it has gained 100% ownership of its solar business with the purchase of the final 10% ownership stake from Southern Energy Management and also has gained 100% ownership of its IES LED lighting business with the purchase of the final 33% ownership interest from IES. In addition, PowerSecure has acquired Powerline EHV & Safety Training, LLC. The Company completed these three transactions for approximately $1.3 million in cash and approximately $3.0 million in common stock, for a total aggregate value of approximately $4.3 million. Full Article
Powersecure International Inc Announces Acquisition Of Solais Lighting, Inc
Powersecure International Inc announced that it has acquired Solais Lighting, Inc., a private company based in Stamford, CT which has a portfolio of LED lamps and fixtures for commercial and industrial applications that provide superior light output, thermal management, optics, light quality and aesthetics. PowerSecure paid the stockholders of Solais $6.5 million in cash plus 675,160 shares of PowerSecure common stock and assumed approximately $0.2 million in negative working capital for a total transaction value of $15 million. The PowerSecure shares were valued at their volume-weighted average closing sale price (VWAP) as reported on the Nasdaq Global Select Market over the five business days immediately preceding the closing date of April 12, 2013, or $12.22 per share. All outstanding shares of capital stock of Solais were exchanged for the merger consideration. Full Article
Powersecure International Inc Issues FY 2015 Revenue Guidance-Conference Call
Powersecure International Inc announced that the Company's fiscal 2015 strategic plan to deliver $300 million in revenue with double-digit operating margins. Full Article
Powersecure International Inc Announces $20 Million of New Business Awards
Powersecure International Inc announced it has received $20 million of new business across all service areas. The new utility infrastructure awards total approximately $8 million and include both transmission and distribution work for ongoing utility system maintenance and new construction projects, including several to support oil and natural gas activities requiring new transmission and distribution. Of approximately $8 million in new distributed generation (DG) business, more than $7 million is from new solar projects. The remaining DG awards are primarily for hospital and industrial projects. New LED lighting orders from retailers for the Company's EfficientLights products, and new orders from cooperative utilities for the Company's SecureLite area light, totaled approximately $4 million. Full Article
Powersecure International Inc Announces $10 Million New Business Awards
Powersecure International Inc announced that it has received $10 million of new business for distributed generation systems. The new distributed generation awards are turn-key revenue projects, including more than $5 million for a 7.5MW Interactive Distributed Generation system for a northeastern hospital using PowerSecure's PowerBlock solution. The majority of this new turn-key revenue is expected to be recognized in 2013. Full Article
Powersecure International Inc Extends Stock Repurchase Program
Powersecure International Inc announced that its board of directors has authorized an extension of the Company's stock repurchase program for an additional $5 million of the Company's common stock through December 2014. Full Article
Powersecure International Inc Secures Contract
Powersecure International Inc announced it has received $10 million of new awards for its Interactive Distributed Generation (IDG) smart grid power systems, utility infrastructure projects, and LED Area Lights. The new IDG System awards total $4 million, and include installations for manufacturing, pharmaceutical, hospital, and retail operations. The utility infrastructure awards are just over $5 million, and include transmission and distribution projects for oil and gas companies and military bases. The new LED Area Light awards are just under $1 million and include an order from a new utility who has adopted the light to roll out across its utility system. The awards announced include approximately $8 million of turnkey projects which will be recognized as the work is performed and the products are shipped, and approximately $2 million of projects which will be recognized under the Company’s distributed generation company-owned recurring revenue model. These recurring revenue contracts are for IDG systems for large retail facilities and will be recognized over a five year period starting in 2013. Full Article
Powersecure International Inc Announces $15 Million Of Awards For Distributed Generation Power Systems And Utility Infrastructure Projects
Powersecure International Inc announced it has received $15 million of new awards for its Interactive Distributed Generation (IDG) smart grid power systems, and utility infrastructure projects. The new IDG System awards total $10 million, and include installations for hospital, data center, pharmaceutical, and industrial facilities. The utility infrastructure awards total $5 million, and include transmission system and substation projects for utilities and industrial customers. Full Article
Powersecure International Inc Announces $10 Million Of Awards For Smart Grid Power Systems, Led Area Lights, And Utility Infrastructure Projects
Powersecure International Inc announced it has received $10 million of new awards for its Interactive Distributed Generation (IDG) smart grid power systems, LED Area Lights, and utility infrastructure projects. The new IDG System awards total $4.5 million, including installations for industrial, retail, municipal, and military facilities. The new LED Area Light awards total $0.4 million, including orders from seven utilities, and several repeat orders. And the utility infrastructure awards total $5.1 million, including transmission, distribution, and substation upgrade projects for utilities and their industrial customers. Full Article
Powersecure International Inc Announces New LED Light Sales Totaling $15 Million To Three Retailers
PowerSecure International, Inc. announced that it has received orders for new LED lights totaling $15 million from three retailers. The new orders are for PowerSecure’s EfficientLights LED lighting technology, and include each of its in-store product lines, including reach-in case lights, walk-in freezer/cooler lights, and shelf and canopy lights. The retailers are making these green technology investments to improve the light in their stores, reduce their energy consumption by approximately 70%, eliminate mercury-containing fluorescent lights, and extend their light life five-fold. Full Article
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