Energy demand drives results for Powersecure |
|
By: Stockhouse Inc. Posted: 2008-08-09 03:45:17 |
|
Stockhouse reports PowerSecure International, Inc. NASDAQ:POWR) today reported record revenue for its second fiscal quarter of 2008. Second quarter 2008 revenues were $42.0 million, an increase of 85.7% over the second quarter of 2007 and an all-time high for any quarter in the Company's history.
For the full company press release dated August 7, 2008 please visit http://www.stockhouse.com/tools The Company's record second quarter revenues were driven by strong performance of all major business units. As a result of $50 million of new business announced during the second quarter of 2008, the Company's revenue backlog grew to $112 million as of the end of the quarter. Powersecure is riding a wave of upgrades and expansion in the utility industry. As the price and demand of energy have gone up, utilities are searching for more efficient ways to supply and work with major corporate customers. Powersecure is at the forefront of providing utilities with new ways to develop, distribute and conserve energy. Investors have seen other companies in this group perform well. On July 8th, 2008 Stockhouse reported that Altair Nanotechnologies Inc. (NASDAQ: ALTI), a leading manufacturer of high-performance lithium-titanate battery and energy storage products was up over 25% on a sale of its leading storage technology to AES Corporation (NYSE: AES). Major utility upgrades are usually long term trends and investors should be able to find more interesting plays for this sector. As of the time of this report POWR was up over 29% with over a trading volume of over 290 thousand shares. |
| Trackback url: https://press.abc-directory.com/press/3424 |