Electric City’s 2Q05 Loss Widens; Management Says All Is Well
Electric City reported its results for the three month and six-month periods ending June 30, 2005.
The Company reported revenue of $1,791,480 for the three month period ended June 30, 2005 as compared to $555,537 for the same period in the prior year…
The net loss available to common shareholders for the second quarter of 2005 was $2,163,634 or $0.05 per share as compared to a loss of $1,768,032 or $0.04 per share for the same period in 2004.
-from Electric City Corp. Reports Second Quarter 2005 Results
Some other key highlights:
- Mr. Mitola, Electric City’s CEO, said, “The strong increase in second quarter revenue was driven by our first significant piece of direct sales ‘pull-through’ EnergySaver(TM) business resulting from initial customers of our VNPP program with ComEd.”
- Mr. Mistarz, Electric City’s CFO, said, “We believe that MPG’s acquisition will prove to be one of the most significant developments in ELC’s history. Adding MPG’s patented commercial and industrial HVAC technology has allowed us to bring multi-line energy reduction solutions our collective customers.”
- During the quarter, ELC added more customer installations under their 50 MW ComEd VNPP program.
- Electric City received the go-ahead on their PacifiCorp VNPP project.
