PowerSecure International, Inc (POWR)

[Watson9]

PowerSecure Announces $20 Million of New Utility Infrastructure Awards
WAKE FOREST, N.C.--(BUSINESS WIRE)--Jan. 5, 2012-- PowerSecure International, Inc. (Nasdaq: POWR) today announced it has been awarded a new contract to serve two separate divisions of a major investor-owned utility. The award includes transmission and distribution construction and maintenance services, and is expected to generate $20 million of revenue over the two-year contract period. The Company expects to realize approximately one third of the revenue from this contract in 2012, and two-thirds of the revenue in 2013, although these estimates could fluctuate depending on specific work assignments. This new business will be included in the Company’s revenue backlog published and updated in conjunction with its quarterly earnings releases.

Sidney Hinton, CEO of PowerSecure, said, "We are very excited to announce this new contract. 2011 was a record year for our Utility Infrastructure business, and this new two-year award builds on this success. We are committed to delivering great service to these two divisions of a major utility, and demonstrating our strong value proposition.”