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awesome, I've been holding since .085, already flipped half for an easy double, riding free shares up now!!!
ECNG.. $0.15
Now long 108,987 shares,, Bring it on.... hank
10,
Welcome, it should be a great move, things looking very favorable for the company!
Nice move 10 bagger IMO. I'm slightly tempted to take my initial investment off the table, I got in last year at .08
And although I could use the powder to buy another extremely undervalued stock (they abound currently) I'm not touching my stack here and will not even think seriously about it until we hit the minimum valuation of .40
malc
ECNG.. $0.182
Bought a starter position today..
05/12/10 11:03 AM EDT Buy 10000 ECNG Executed @ $0.182 Details | Edit
05/12/10 10:34 AM EDT Buy 2000 ECNG Executed @ $0.182 Details | Edit
05/12/10 10:03 AM EDT Buy 20000 ECNG Executed @ $0.189 Details | Edit
05/12/10 9:45 AM EDT Buy 8000 ECNG Executed @ $0.18 Details | Edit
05/12/10 9:30 AM EDT Buy 5000 ECNG Executed @ $0.172 Details | Edit
Company Contact:
Andrew Warner, CFO
EnergyConnect, Inc.
(408) 898-4592
AWarner@energyconnectinc.com Investor Relations
Timothy Dien
Lippert / Heilshorn & Associates, Inc.
(415) 433-3777
TDien@lhai.com
EnergyConnect Group, Inc. Reports First Quarter 2010 Results
– First Quarter Revenue of $7.0 million, compared to $1.2 million a year ago –
– First Quarter EPS was $0.02, compared to Loss Per Share of $0.02 a year ago –
– Company Reiterates Annual 2010 Guidance: Revenue Increase of 35% to 40% and Positive Annual 2010 Non-GAAP Adjusted EBITDA –
San Jose, CA – May 11, 2010 - EnergyConnect Group, Inc. (OTCBB: ECNG), a leading provider of smart grid demand response services and technologies, reported results for its first quarter ended April 3, 2010.
Kevin Evans, EnergyConnect’s president and CEO, said, “The first quarter of 2010 was an exciting time for EnergyConnect. We completed the selling season in our Capacity business and grew our total Capacity by 33%, to 400 Megawatts (MW). As we sold over 100 MWs of Capacity transactions in the first quarter, the remaining 300 MWs will be recognized in the second and third quarter of 2010. On the economic side of the business, we are encouraged by the Federal Energy Regulatory Commission’s (FERC) Notice of Proposed Rulemaking (NOPR) on Demand Response. In general, we continue to see improvements in the economy and energy prices are showing signs of rebounding. In addition, we remain well positioned with our software-as-a-Service technology platform as customers begin to focus on reducing their overall cost of energy.”
First Quarter Financial Results
Revenue for the first quarter of 2010 was $7.0 million, compared to $1.2 million in the first quarter of 2009, due to a capacity transaction completed in the first quarter. Operating income for the period totaled $2.3 million, compared to operating loss of $2.0 million in the first quarter of 2009. Net income for the first quarter 2010 was $2.1 million, or $0.02 per diluted share, compared to a loss of $2.1 million, or $0.02 per share in the first quarter 2009.
Company Outlook
Andrew Warner, EnergyConnect’s CFO, said, “Typically, our capacity revenue recognition model translates into 25% being recognized in the second quarter and 75% in the third quarter. Now, following the transaction in the first quarter of 2010, that revenue split should apply for the balance of our capacity business. We remain confident we will meet our annual guidance for 2010, achieving revenue growth of 35% to 40% over last year and deliver positive Non-GAAP Adjusted EBITDA for 2010.”
Based on the current market outlook, the company reiterates it expects full year 2010 revenue to be in the range of $27 million to $28 million, and expects to be Non-GAAP Adjusted EBITDA positive for the year.
--------------------------------------------------------------------------------
Discussion of Non-GAAP Financial Measures
We intend to utilize a number of different financial measures, both GAAP and Non-GAAP, in analyzing and assessing the overall business performance, for making operating decisions and for forecasting and planning future periods. We consider the use of Non-GAAP financial measures helpful in assessing our current financial performance and prospects for the future. While we intend to use Non-GAAP financial measures as a tool to enhance our understanding of certain aspects of our financial performance, we do not consider these measures to be a substitute for, or superior to, the information provided by GAAP financial measures. Consistent with this approach, we believe that disclosing Non-GAAP financial measures provides useful supplemental data that, while not a substitute for GAAP financial measures, allows for further transparency in the review of our financial and operational performance.
We believe that EBITDA is used by investors and analysts as an alternative to GAAP measures when evaluating our performance in comparison to other companies. In order to fully assess our financial operating results, we believe that EBITDA will be an appropriate measure of evaluating our operating performance, because it eliminates the effects of financing and accounting decisions. This measure is also significant to institutional lenders, and is considered an important internal benchmark of our performance. We intend to use EBITDA to measure our performance against internal performance targets, which are based on EBITDA. In addition, we intend to further exclude stock-based compensation and other non-cash charges in calculating Non-GAAP Adjusted EBITDA. We believe excluding stock-based compensation and other non-cash charges, allows for greater transparency in the review our financial and operational performance.
Conference Call
The company will host a conference call and webcast today, May 11 th , at 4:30 p.m. Eastern Time / 1:30 p.m. Pacific Time, to discuss its first quarter 2010 financial results. To listen to the call live, please dial 877-407-9039 or 201-689-8470, internationally, at least 10 minutes before the start of the conference.
EnergyConnect will also use an online, real-time slide presentation that will run concurrently with the conference call. To participate in viewing these slides during the presentation, a link is provided through the Investors section of the EnergyConnect website: http://www.energyconnectinc.com/investors/financials/ .
A telephone replay will be available for two business days by dialing 877-660-6853, or 201-612-7415, and entering Account # 3055 and Conference ID #349866. A replay will also be available at the web address above for 90 days.
Forward-Looking Statements
This press release includes statements that may constitute “forward-looking” statements. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause or contribute to such differences that include, but are not limited to, competitive factors, the success of new products in the marketplace, dependence upon third party vendors, and the ability to obtain financing. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.
--------------------------------------------------------------------------------
About EnergyConnect
EnergyConnect Group Inc. delivers industry leading Demand Response solutions to commercial, educational and industrial consumers, enabling them to manage their electricity use in response to market prices (Economic), regional power shortages (Capacity), or cost avoidance measures. The EnergyConnect Software-as-a-Service (SaaS) technology platform provides a scalable, cost-effective, clean technology to enhance the grid’s efficiency and reliability. For more information, visit http://www.energyconnectinc.com.
– Tables Follow –
--------------------------------------------------------------------------------
ENERGYCONNECT GROUP, INC.
CONSOLIDATED BALANCE SHEET
($)
April 3, January 2,
2010 2010
(Unaudited)
Cash $ 150,704 $ 1,062,306
Certificates of deposit 100,200 100,200
Accounts receivable, net 9,742,693 6,811,495
Other current assets 139,138 137,042
Total current assets 10,132,735 8,111,043
Intangibles, net 1,338,994 1,398,761
Other long term assets 285,289 265,120
Total assets $ 11,757,018 $ 9,774,924
Accounts payable and accrued expenses $ 5,944,569 $ 7,508,561
Other current liabilities 207,795 324,886
Total current liabilities 6,152,364 7,833,447
Note Payable, net of discount 3,297,570 1,912,937
Total liabilities 9,449,934 9,746,384
Shareholders’ equity 2,307,084 28,540
Total liabilities and shareholders’ equity $ 11,757,018 $ 9,774,924
--------------------------------------------------------------------------------
ENERGYCONNECT GROUP, INC.
CONSOLIDATED STATEMENT OF OPERATIONS
($000’s, except share data)
(Unaudited)
Three months ended
April 3, April 4,
2010 2009
Revenue $ 7,024 $ 1,210
Cost of revenue 2,455 642
Gross profit 4,569 568
Sales, general and administrative 2,076 2,402
Stock-based compensation 185 169
Total operating expenses 2,261 2,571
Income (loss) from operations 2,308 (2,003 )
Interest expense, net and other (226 ) (79 )
Net Income (loss) $ 2,082 $ (2,082 )
Net Income (loss) per share:
Basic and diluted $ 0.02 $ (0.02 )
Shares used in per share calculations:
Basic 95,749,193 95,179,961
Diluted 120,694,405 95,179,961
--------------------------------------------------------------------------------
Reconciliation of GAAP Net Income to Non-GAAP Adjusted EBITDA
(Unaudited)
We believe that the presentation of Non-GAAP financial measures provide important supplemental information to management and investors regarding financial and business trends relating to our financial condition and results of operations. While we use Non-GAAP financial measures as a tool to enhance our understanding of certain aspects of our financial performance, we do not consider these measures to be a substitute for, or superior to, the information provided by GAAP financial measures. Consistent with this approach, we believe that disclosing Non-GAAP financial measures to the readers of its financial statements provides such readers with useful supplemental data that, while not a substitute for GAAP financial measures, allows for greater transparency in the review of its financial and operational performance.
We intend to use EBITDA and Non-GAAP Adjusted EBITDA to measure our performance against internal targets. EBITDA is calculated by adding net interest expense, taxation expense, depreciation expense and amortization expense to Net Income to arrive at Earnings Before Interest, Tax, Depreciation and Amortization. Non-GAAP Adjusted EBITDA is calculated by additionally adding back other non-cash expenses, specifically stock-based compensation expense to arrive at Non-GAAP Adjusted EBITDA.
ENERGYCONNECT GROUP, INC.
RECONCILIATION OF GAAP NET INCOME TO NON-GAAP ADJUSTED EBITDA
($000’s)
April 3, January 2,
2010 2010
(Unaudited) (Unaudited)
GAAP Net Income (loss) $ 2,082 $ (2,082 )
ADD: Stock- based compensation 185 169
ADD: Depreciation and amortization expense 93 96
ADD: Interest Expense, net and other 226 79
Adjusted EBITDA 2,586 (1,738 )
malc,
Ask is inching up, just prior to opening, .165, gonna be a good day. Added another boardmark!
Yep, earnings spot on and guidance on target for ECNG to make a minimum of .08 EPS for 2010. Any unseen additional sales of their energy saving software systems would just add to this bottom line.
.08 EPS for 2010 is great for ECNG and makes this currently very very undervalued at this .15-16 range. This is a US based company on the BB, has turned the corner hard financially, so it deserves better than a 5x P/E, but even if the market gives ECNG that as a fair valuation we are talking about a .40 stock
Load em while you can,
malc
Earnings dead on!!!
EnergyConnect Group, Inc. Reports First Quarter 2010 Results
14 minutes ago - Businesswire
Related Companies
Symbol Last %Chg
ECNG 0.15 0.00%
As of 3:46 PM ET 5/11/10
-- First Quarter EPS was $0.02, Compared to Loss Per Share of $0.02 a Year Ago --
-- Company Reiterates Annual 2010 Guidance: Revenue Increase of 35% to 40% and Positive Annual 2010 NON-GAAP Adjusted EBITDA --
EnergyConnect Group, Inc. (OTCBB:ECNG), a leading provider of smart grid demand response services and technologies, reported results for its first quarter ended April 3, 2010.
Kevin Evans, EnergyConnect's president and CEO, said, "The first quarter of 2010 was an exciting time for EnergyConnect. We completed the selling season in our Capacity business and grew our total capacity by 33%, to 400 Megawatts (MW). As we sold over 100 MWs of capacity transactions in the first quarter, the remaining 300 MWs will be recognized in the second and third quarter of 2010. On the economic side of the business, we are encouraged by the Federal Energy Regulatory Commission's (FERC) Notice of Proposed Rulemaking (NOPR) on Demand Response. In general, we continue to see improvements in the economy and energy prices are showing signs of rebounding. In addition, we remain well positioned with our software-as-a-Service technology platform as customers begin to focus on reducing their overall cost of energy."
First Quarter Financial Results
Revenue for the first quarter of 2010 was $7.0 million, compared to $1.2 million in the first quarter of 2009, due to a capacity transaction completed in the first quarter. Operating income for the period totaled $2.3 million, compared to operating loss of $2.0 million in the first quarter of 2009. Net income for the first quarter 2010 was $2.1 million, or $0.02 per diluted share, compared to a loss of $2.1 million, or $0.02 per share in the first quarter 2009.
Company Outlook
Andrew Warner, EnergyConnect's CFO, said, "Typically, our capacity revenue recognition model translates into 25% being recognized in the second quarter and 75% in the third quarter. Now, following the transaction in the first quarter of 2010, that revenue split should apply for the balance of our capacity business. We remain confident we will meet our annual guidance for 2010, achieving revenue growth of 35% to 40% over last year and deliver positive Non-GAAP Adjusted EBITDA for 2010."
Based on the current market outlook, the company reiterates it expects full year 2010 revenue to be in the range of $27 million to $28 million, and expects to be Non-GAAP Adjusted EBITDA positive for the year.
Discussion of Non-GAAP Financial Measures
We intend to utilize a number of different financial measures, both GAAP and Non-GAAP, in analyzing and assessing the overall business performance, for making operating decisions and for forecasting and planning future periods. We consider the use of Non-GAAP financial measures helpful in assessing our current financial performance and prospects for the future. While we intend to use Non-GAAP financial measures as a tool to enhance our understanding of certain aspects of our financial performance, we do not consider these measures to be a substitute for, or superior to, the information provided by GAAP financial measures. Consistent with this approach, we believe that disclosing Non-GAAP financial measures provides useful supplemental data that, while not a substitute for GAAP financial measures, allows for further transparency in the review of our financial and operational performance.
We believe that EBITDA is used by investors and analysts as an alternative to GAAP measures when evaluating our performance in comparison to other companies. In order to fully assess our financial operating results, we believe that EBITDA will be an appropriate measure of evaluating our operating performance, because it eliminates the effects of financing and accounting decisions. This measure is also significant to institutional lenders, and is considered an important internal benchmark of our performance. We intend to use EBITDA to measure our performance against internal performance targets, which are based on EBITDA. In addition, we intend to further exclude stock-based compensation and other non-cash charges in calculating Non-GAAP Adjusted EBITDA. We believe excluding stock-based compensation and other non-cash charges, allows for greater transparency in the review our financial and operational performance.
Conference Call
The company will host a conference call and webcast today, May 11th, at 4:30 p.m. Eastern Time / 1:30 p.m. Pacific Time, to discuss its first quarter 2010 financial results. To listen to the call live, please dial 877-407-9039 or 201-689-8470, internationally, at least 10 minutes before the start of the conference.
EnergyConnect will also use an online, real-time slide presentation that will run concurrently with the conference call. To participate in viewing these slides during the presentation, a link is provided through the Investors section of the EnergyConnect website: http://www.energyconnectinc.com/investors/financials/.
A telephone replay will be available for two business days by dialing 877-660-6853, or 201-612-7415, and entering Account # 3055 and Conference ID #349866. A replay will also be available at the web address above for 90 days.
Forward-Looking Statements
This press release includes statements that may constitute "forward-looking" statements. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause or contribute to such differences that include, but are not limited to, competitive factors, the success of new products in the marketplace, dependence upon third party vendors, and the ability to obtain financing. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.
About EnergyConnect
EnergyConnect Group Inc. delivers industry leading Demand Response solutions to commercial, educational and industrial consumers, enabling them to manage their electricity use in response to market prices (Economic), regional power shortages (Capacity), or cost avoidance measures. The EnergyConnect Software-as-a-Service (SaaS) technology platform provides a scalable, cost-effective, clean technology to enhance the grid's efficiency and reliability. For more information, visit http://www.energyconnectinc.com.
E
NERGYCONNECT GROUP, INC.
CONSOLIDATED BALANCE SHEET
($)
April 3, January 2,
2010 2010
----------- ----------
(Unaudited)
Cash $ 150,704 $ 1,062,306
Certificates of deposit 100,200 100,200
Accounts receivable, net 9,742,693 6,811,495
Other current assets 139,138 137,042
----------- ----------
Total current assets 10,132,735 8,111,043
Intangibles, net 1,338,994 1,398,761
Other long term assets 285,289 265,120
----------- ----------
Total assets $ 11,757,018 $ 9,774,924
=========== ==========
Accounts payable and accrued expenses $ 5,944,569 $ 7,508,561
Other current liabilities 207,795 324,886
----------- ----------
Total current liabilities 6,152,364 7,833,447
Note Payable, net of discount 3,297,570 1,912,937
----------- ----------
Total liabilities 9,449,934 9,746,384
Shareholders' equity 2,307,084 28,250
----------- ----------
T $ 11,757,018 $ 9,774,924
otal liabilities and shareholders' equity
=========== ==========
E
NERGYCONNECT GROUP, INC.
CONSOLIDATED STATEMENT OF OPERATIONS
(in $000s, except share data)
(Unaudited)
Three months ended
April 3, April 4,
2010 2009
---------------- ---------------
Revenue $ 7,024 $ 1,210
Cost of goods sold 2,455 642
---------- ---------
Gross profit 4,569 568
Sales, general and administrative 2,076 2
,402
Stock-based compensation 185 169
---------- ---------
Total operating expenses 2,261 2
,571
Income (loss) from operations 2,308 ( )
2,003
---------- --------- ----
Interest expense, net and other (226 ) (79 )
Provision for income taxes - -
Net Income (loss) $ 2,082 $ ( )
2,082
========== ==== ========= ====
Net Income (loss) per share:
Basic and diluted $ 0.02 $ (0.02 )
========== ========= ====
Shares used in per share calculations:
9 9
Basic 5,749,193 5,179,961
1 9
Diluted 20,694,405 5,179,961
========== ==== ========= ====
Reconciliation of GAAP Net Income (Loss) to Non-GAAP Adjusted EBITDA
(Unaudited)
We believe that the presentation of Non-GAAP financial measures provide important supplemental information to management and investors regarding financial and business trends relating to our financial condition and results of operations. While we use Non-GAAP financial measures as a tool to enhance our understanding of certain aspects of our financial performance, we do not consider these measures to be a substitute for, or superior to, the information provided by GAAP financial measures. Consistent with this approach, we believe that disclosing non-GAAP financial measures to the readers of its financial statements provides such readers with useful supplemental data that, while not a substitute for GAAP financial measures, allows for greater transparency in the review of its financial and operational performance.
We intend to use EBITDA and Non-GAAP Adjusted EBITDA to measure our performance against internal targets. EBITDA is calculated by adding back net interest expense, taxation expense, depreciation expense and amortization expense to Net Income to arrive at Earnings Before Interest, Tax, Depreciation and Amortization. Non-GAAP Adjusted EBITDA is calculated by additionally adding back other non-cash expenses, specifically stock-based compensation expense to arrive at Non-GAAP Adjusted EBITDA
E
NERGYCONNECT GROUP, INC.
RECONCILIATION OF GAAP NET INCOME (LOSS) TO ADJUSTED EBITDA
(in $000s)
April 3, January 2,
2010 2010
----------- -----------
(Unaudited) (Unaudited)
GAAP Net Income (loss) $ 2,082 $ (2,082 )
ADD: Stock- based compensation 185 169
9 9
ADD: Depreciation and amortization expense 3 6
2 7
ADD: Net Interest Expense and other 26 9
----------- ------
Non-GAAP Adjusted EBITDA 2,586 (1,738 )
SOURCE: EnergyConnect Group, Inc.
EnergyConnect, Inc.
Andrew Warner, CFO, 408-898-4592
AWarner@energyconnectinc.com
or
Lippert / Heilshorn & Associates, Inc.
Timothy Dien, 415-433-3777 (Investor Relations)
TDien@lhai.com
Company Profile for EnergyConnect
Friday 05/07/2010 8:06 PM ET - Businesswire
Related Companies
Symbol Last %Chg
ECNG 0.15 0.00%
As of 3:23 PM ET 5/10/10
EnergyConnect delivers industry-leading Demand Response technologies and services to commercial, educational, municipal and industrial consumers enabling them to better manage their use of electricity in response to market prices or regional power shortages. The EnergyConnect platform provides a scalable, cost-effective, clean technology to enhance the grid's efficiency and reliability. The majority of facilities (such as college campuses, high-rise office buildings, shopping centers, manufacturing and industrial plants) already have the potential to realize economic benefit from the energy used in their facilities every day. Using EnergyConnect's tools and services, organizations connect their energy use to substantial cost savings and cash incentives while ensuring a greener future.
EnergyConnect
Company:
901 Campisi Way, Suite 260
Headquarters Address:
Campbell, CA 95008
4083703311
Main Telephone:
w
Website: ww.energyconnectinc.com
(OTCBB:ECNG)
Ticker:
Public
Type of Organization:
IR
Energy
Industry:
C
Key Executives: EO: Kevin Evans
C
FO: Andrew Warner
Public Relations
Rich Quattrini
Contact:
4082050502
Phone:
r
Email: quattrini@energyconnectinc.com
ECNG reports Q tommorrow! If I remember correctly the last Q showed a EPS of .02, and ECNG was just getting revenues cranked up then... This first Q could give us a good idea of what 2010 EPS could be, I have a conservative figure of .08 in mind but hoping tommorrows first quarter makes that look way, way low...
Excited for tommorrow long here,
malc.
EnergyConnect Group to Present at the SRA 6th Annual Spring Growth Stock Conference
EnergyConnect Group, Inc. (OTCBB:ECNG), a leading provider of smart grid demand response services and technologies, is scheduled to present at the SRA 6th Annual Spring Growth Stock Conference on Tuesday, April 6th at 3:30 p.m. Pacific Time. Speaking from management will be Kevin Evans, President & CEO, and Andrew Warner, CFO. The conference is being held at the Omni Hotel in San Francisco.
About EnergyConnect
EnergyConnect delivers industry leading Demand Response technologies and services to commercial, educational and industrial consumers enabling them to manage their use of electricity in response to market prices or regional power shortages. The EnergyConnect technology platform provides a scalable, cost-effective, clean technology to enhance the grid’s efficiency and reliability. For more information about this leading edge technology or about investor relations, visit: http://www.energyconnectinc.com.
timhyma,
Ya know, it is very possible. I'm new to the energy stocks, and am trying to learn as I go, but the news release on Friday seems to have been very well received. Anytime the government is offering money or savings, seems people rejoice, lol!!!!
Think we break through the 52-week high this week? I'm thinking so, I like the way the bid keeps creeping up
The 10K didnt look that bad to me. Guidance for 2010 revenues is an adjusted EPS of positive .02-.03
With today's news that may all change though as new customers may be drawn in to increase sales. If i read everything right, and not sure considering the week at regular work i have had, now customers of demand response services will be compensated (fully? dont know?) for the costs of such by the feds in their efforts to persuade folks to use smart grid technology. seems to bode very very well for the future of ECNG and hence today's 40% spike on the news.
malc
EnergyConnect, Inc. Announces Timing of Fourth Quarter and Year-end 2009 Results
Date : 03/01/2010 @ 4:15PM
Source : Business Wire
Stock : EnergyConnect Group, Inc. (ECNG)
Quote : 0.085 -0.009 (-9.57%) @ 8:04AM
EnergyConnect, Inc. Announces Timing of Fourth Quarter and Year-end 2009 Results
EnergyConnect Group, Inc. (OTCBB:ECNG), a leading provider of smart grid demand response services and technologies, intends to release its fourth quarter and year-end 2009 financial results after the market closes on March 18th, 2010. Management will host a conference call and simultaneous webcast with slide presentation at 4:30 p.m. ET/1:30 p.m. PT, followed by a question and answer session.
To listen to the live call, please dial 866-289-3380, at least 10 minutes before the start of the conference. The call will be webcast and can be accessed from the “Investors” section of the company’s website at http://www.energyconnectinc.com. Instructions for international callers and details of the audio recording of the call will be available on the Investors section of the EnergyConnect website. The webcast will also be available on this site for 90 days after the conference.
EnergyConnect will also use an online, real-time slide presentation that will run concurrently with the conference call. To participate in viewing these slides during the presentation, a link will be provided through the Investors section of the EnergyConnect website: http://www.energyconnectinc.com/investors/financials/.
anyone know their story?
http://coghillcapital.investorbridge.com/index.php?module=pagesmith&uop=view_page&id=
They filed a report showing zero shares owned a couple days ago.
http://yahoo.brand.edgar-online.com/DisplayFiling.aspx?TabIndex=2&FilingID=7060712&companyid=1029&ppu=%252fdefault.aspx%253fcik%253d944947
Finished reading an article in the American Legion magizine called "Get Smart" by Jay Stuller. Nice right up about how the smart grid system is replacing 50+ year old systems.
Compared the Scarecrow from the Wizard of Oz having no brain, to getting one in the end <vbg>
Nice,i have a ways to go for 70% lol Still holding
I took some off the table yesterday for a 70% gain. But, still bullish on the stock.
Landscape Shifts in Demand Response Industry
February 11th, 2010
2010 is developing into a year of expansion for Demand Response in many regions including regulatory changes, smart grid funding and partnering with renewable energy resources to maximize participation. FERC’s Order 719 on organized markets has resulted in development of market design changes enabling more retail customers to economically provide Demand Response-based services in markets. […]
EnergyConnect’s 2010 Focus
February 11th, 2010
There are some exciting changes coming in Demand Response markets across the country. Hear about EnergyConnect’s proactive efforts to increase benefits for Demand Response from CEO, Kevin R. Evans.
Q: In the mid-Atlantic PJM region, what difference will the incentive proposal make in the Economic Load Relief program?
A: In the PJM market, there is a proposal […]
Customer-focused Curtailment Planning: A Unique Approach
February 11th, 2010
EnergyConnect appreciates that no two customers are alike. In fact, different facilities within the same customer are typically quite unique. EnergyConnect’s account teams are poised to meet with customers to better understand their operation’s electricity consumption, consult on curtailment strategies and to tailor a plan that optimally meets the clients’ priorities and needs.
An essential element to successful […]
http://www.energyconnectinc.com/news/blog-connect/
ECNG Intraday Analysis Add to Watch List FAQ
Symbol Last Trade Date Change Open High Low Volume
ECNG 0.104 Feb-10-2010 0.00 0.103 0.104 0.103 13,500
Note: Canadian symbols now end in .c i.e SYMB.C Analysis Overall Short Intermediate Long
Very Bullish (0.51) Bullish (0.45) Very Bullish (0.54) Very Bullish (0.53)
http://www.stockta.com/cgi-bin/analysis.pl?symb=ECNG&num1=1&cobrand=&mode=stock
Considering buying some ECNG. Anybody have a timeline of future events (possible news)?
Thanks swanlinbar, let me know if there are some things you would like to see added, etc.
for the quarter, it was a penny on the eps, compared to two pennies the year prior
http://yahoo.brand.edgar-online.com/displayfilinginfo.aspx?FilingID=6888536-1099-120862&type=sect&dcn=0001140361-09-025824
But, if you look at the nine month return- eps losses were the opposite- only one penny compared to a two penny loss the year prior.
I expect the long term trend to profitibility to continue
Harleyman - thanks for stepping up to the plate and getting this Ibox going - looks great to me. I shoulda double checked but I think the EPS last Q was a +.02
I'm looking forward to another positive Q to jump start this bad boy in the right direction.
malc
Nice job Harley !
iBox is up and runnin, check it out, let me know if you have any suggestions, thanks!
yes, i like this company, just got in at .93 last week. Good revenue, just need more consistant news!!!
building for the next push over .10, then straight ot .12, IMO!
Needs more cowbell (volume), lol
ECNG Nice to see 6 now on the bid @.095 or better
Nice gift ,he still has almost another 7 Million.
Thanks, makes sense, and could be a part of a tax deduction or something
timhyma,
a code g is a "gift", that'a why it shows no value. He disposed of 1 mm shares as a gift. I'm pretty sure this is right, but don't take a hit out on me if I'm wrong, lol!
HM
FERC Distinguishes EnergyConnect in Granting Expanded Authority
SAN JOSE, CA -- (Marketwire) -- 01/26/10 --
EnergyConnect Group Inc. (OTCBB: ECNG), an industry leader in innovative demand response technologies, today announced that it has been granted Market Based Rate Authorization (MBRA) by the Federal Energy Regulatory Commission (FERC) effective August 17, 2009
MBRA allows EnergyConnect to engage in a variety of wholesale market transactions that complement its demand response offerings and expands the range of services it can provide to grid operators, utilities, and commercial, industrial and institutional customers
"Our objectives in seeking MBRA were to obtain clarity regarding the obligations of demand response providers and ensure that we can provide an expanded range of wholesale services for the benefit of our customers, including the purchase and sale of ancillary services, energy and capacity," said Kevin Evans, EnergyConnect's President and Chief Executive Officer. "Demand response is more than just load drop; our goal is to provide energy consumers with innovative Smart Grid technologies which enable them to benefit from access to wholesale electricity markets."
In its order, FERC determined that demand response activities alone were outside the scope of its jurisdiction as defined by the Federal Power Act, but determined certain transactions which involve the sale of electric energy for resale would be subject to FERC jurisdiction. As a result of the decision, EnergyConnect is now a public utility as defined by Section 201(e) of the Federal Power Act
FERC noted that "where an entity is only engaged in the provision of demand response services, and makes no sales of electric energy for resale" that entity would not be subject to FERC's jurisdiction. This ruling advances demand response in organized markets by clarifying its definition and refutes the assertion that demand response is a prohibited retail "sale for resale" of electricity activity
About EnergyConnect Group, Inc
EnergyConnect delivers industry leading demand response technologies and services to commercial, industrial and institutional energy users enabling them to manage their use of electricity in response to market prices or regional power shortages. The EnergyConnect technology platform provides a scalable, cost-effective, clean technology to enhance the grid's efficiency and reliability. For more information about this leading edge technology or about investor relations, visit: http://www.energyconnectinc.com/
Forward Looking Statements
This press release includes statements that may constitute "forward-looking" statements. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause or contribute to such differences that include, but are not limited to, competitive factors, the success of new products in the marketplace, dependence upon third-party vendors, and the ability to obtain financing. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release
For further information, please contact: Media Contact: Joe Bugica Email Contact 408.750.6335
Investor Relations: Andrew Warner, CFO Email Contact 408.898.4592
ECNG ) word is getting around http://siliconinvestor.advfn.com/readmsg.aspx?msgid=26255326
almost a double for me now. I'm liking it also.
I've been beating it down the last few trading gays, loving the momentum this morning!
somebody knocking on the door?
ENERGYCONNECT G...
Price: 0.099 +0.02 23.75%
Bid0.09[+].
Ask0.099.
Open0.08.
Volume120,900
Get some <bg>.
Posted by: timhyma Date: Tuesday, December 22, 2009 9:58:29 AM
In reply to: MikeDDKing who wrote msg# 44247 Post # of 44397
Bought a starter position in ECNG at .06. I've been looking for a smallcap play in smart grid metering, and decided to take a shot at this one.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=44757524
Posted by: timhyma Date: Tuesday, December 22, 2009 1:28:36 PM
In reply to: timhyma who wrote msg# 44249 Post # of 44397
Added to ECNG at .0525- I have room for one more buy, if anyone wants to sell under .04
http://investorshub.advfn.com/boards/replies.aspx?msg=44757524
The right product, in the right sector, at the right time, imo.
EnergyConnect delivers industry leading Demand Response technologies and services to commercial, educational and industrial consumers enabling them to manage their use of electricity in response to market prices or regional power shortages. The EnergyConnect technology platform provides a scalable, cost-effective, clean technology to enhance the grid’s efficiency and reliability. For more information about this leading edge technology or about investor relations, visit: http://www.energyconnectinc.com.
http://finance.yahoo.com/q?s=ECNG.OB
EnergyConnect Group Inc. Reports Third Quarter Profit
The Company announced revenues from operations of $10,338,000 for the third quarter 2009 with net income of $528,000.
http://finance.yahoo.com/news/EnergyConnect-Group-Inc-bw-102230364.html?x=0&.v=1
There main customer is PMJ
http://www.pjm.com/
EnergyConnect Announces Change in Assigned Ticker Symbol
October 14, 2008
Lake Oswego, OR –(BUSINESS WIRE)– EnergyConnect Group, Inc. (OTCBB: ECNG - News), an industry leader in innovative demand response technologies, today announced that on October 14th the Company’s quotation ticker symbol will change from MICG to ECNG. Read more about the ticker change in our press release area.
Microfield Announces Name Change to EnergyConnect Group, Inc.
September 24, 2008
New name more accurately reflects the company’s industry recognized brand as a leading provider of next generation demand response products and services
PORTLAND, OR –(BUSINESS WIRE)– Microfield Group, Inc. (”Microfield”) (OTCBB: MICG - News), an industry leader in innovative demand response technologies, today announced that on September 24th the Company received shareholder approval to formally change its name to EnergyConnect Group, Inc. The name change will not have any impact on the company’s organizational structure or day-to-day operations. The name change is effective immediately.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=44757524&txt2find=ecng
I dont know a whole lot about this industry but looks like we might be at the ground floor here. And as long as these guys continue to make money and pay off/restructure debt you should be ok.
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EnergyConnect Group, Inc. (EnergyConnect Group), formerly Microfield Group, Inc. provides a range of demand response services to the electric power industry, through its subsidiary EnergyConnect, Inc (ECI). The Company's customers are the regional grid operators who pay it market rates for reductions in electrical demand during periods of high prices or peak demand and for being on stand by to reduce electric power demand on request at periods of capacity limitations or in response to grid emergencies. The Company's suppliers are large commercial and industrial consumers of electricity who it pays to shift their demand for electricity from high priced hours in the day to lower priced hours. It also pays these participating energy consumers to be on stand by to curtail electric demand on request. EnergyConnect Group's products can be grouped into three main categories: energy, capacity and reserves.
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Address | 5335 Sw Meadows Road Suite 325 Lake Oswego, OR 97035 |
Telephone | (503) 603-3500 |
Fax | 0 |
Website | http://www.energyconnect... |
Company Contact: Andrew Warner, CFO EnergyConnect, Inc. (408) 898-4592 AWarner@energyconnectinc.com | Investor Relations Timothy Dien Lippert / Heilshorn & Associates, Inc. (415) 433-3777 TDien@lhai.com |
April 3, | January 2, | |||||||
2010 | 2010 | |||||||
(Unaudited) | ||||||||
Cash | $ | 150,704 | $ | 1,062,306 | ||||
Certificates of deposit | 100,200 | 100,200 | ||||||
Accounts receivable, net | 9,742,693 | 6,811,495 | ||||||
Other current assets | 139,138 | 137,042 | ||||||
Total current assets | 10,132,735 | 8,111,043 | ||||||
Intangibles, net | 1,338,994 | 1,398,761 | ||||||
Other long term assets | 285,289 | 265,120 | ||||||
Total assets | $ | 11,757,018 | $ | 9,774,924 | ||||
Accounts payable and accrued expenses | $ | 5,944,569 | $ | 7,508,561 | ||||
Other current liabilities | 207,795 | 324,886 | ||||||
Total current liabilities | 6,152,364 | 7,833,447 | ||||||
Note Payable, net of discount | 3,297,570 | 1,912,937 | ||||||
Total liabilities | 9,449,934 | 9,746,384 | ||||||
Shareholders’ equity | 2,307,084 | 28,540 | ||||||
Total liabilities and shareholders’ equity | $ | 11,757,018 | $ | 9,774,924 |
Three months ended | ||||||||
April 3, | April 4, | |||||||
2010 | 2009 | |||||||
Revenue | $ | 7,024 | $ | 1,210 | ||||
Cost of revenue | 2,455 | 642 | ||||||
Gross profit | 4,569 | 568 | ||||||
Sales, general and administrative | 2,076 | 2,402 | ||||||
Stock-based compensation | 185 | 169 | ||||||
Total operating expenses | 2,261 | 2,571 | ||||||
Income (loss) from operations | 2,308 | (2,003 | ) | |||||
Interest expense, net and other | (226 | ) | (79 | ) | ||||
Net Income (loss) | $ | 2,082 | $ | (2,082 | ) | |||
Net Income (loss) per share: | ||||||||
Basic and diluted | $ | 0.02 | $ | (0.02 | ) | |||
Shares used in per share calculations: | ||||||||
Basic | 95,749,193 | 95,179,961 | ||||||
Diluted | 120,694,405 | 95,179,961 |
April 3, | January 2, | |||||||
2010 | 2010 | |||||||
(Unaudited) | (Unaudited) | |||||||
GAAP Net Income (loss) | $ | 2,082 | $ | (2,082 | ) | |||
ADD: Stock- based compensation | 185 | 169 | ||||||
ADD: Depreciation and amortization expense | 93 | 96 | ||||||
ADD: Interest Expense, net and other | 226 | 79 | ||||||
Adjusted EBITDA | 2,586 | (1,738 | ) |
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