EuroSite Power Inc. Reports Third Quarter 2015 Financial Performance
Revenue up 20% compared to the same period a year ago, gross margin also improves
Wednesday November 11th 2015
LONDON. UK - November 11, 2015 - EuroSite Power Inc. (OTCQB: EUSP), a subsidiary of American DG Energy Inc. (NYSE MKT: ADGE), On-Site Utility™ solutions provider, offering clean electricity, heat, hot water and cooling solutions to hospitality, healthcare, housing and fitness facilities, reported total revenues of $421,991 for the third quarter of 2015, compared to $350,561 for the third quarter of 2014, an increase of 20.4%. Loss per share was $0.01 for the third quarter of 2015 as well as for the third quarter of 2014.
• Total revenue increased by 20.4% to $421,991 for Q3 2015, compared to $350,561 for Q3 2014.
• Energy revenue for the quarter grew by 48% to $410,055 compared to $277,335 for the same period last year.
• Our current backlog is 8 systems totalling 1,014 kW with a total contract value of $22.3 million.
• Gross margin without depreciation improved to 13.5% for the third quarter of 2015, compared to 8.9% for the same quarter in 2014.
Sales and Operations
• Total energy production for the quarter increased by 60% to 5,484,199 kWh.
• Total energy production for the first 9 months of 2015 exceeds total generation
For the whole of 2014.
• Brought a further system into operation during the quarter plus a further unit
shortly after the quarterclosed.
• Finalist in Association of Decentralized Energy (ADE) Innovation Award category.
• In total we currently operate 29 systems totalling 2,878kW of installed capacity with a total contract value of $81 million.
• The total number of systems now under contract is 36 totalling 3,760 kW.
EuroSite Power Inc. will hold its earnings conference call today, November 11, 2015 at 10:00 a.m.
Eastern Time. To listen, call (877) 870-4263 within the U.S., (855) 669-9657 from Canada, or (412) 317-0790 from other international locations. Participants should reference EuroSite Power to access the call. Please begin dialling at least 10 minutes before the scheduled starting time.
The earnings conference call will be recorded and available for playback one hour after the end of the call through Thursday, November 19, 2015. To listen to the
playback, call (877) 344-7529 within the U.S., (855) 669-9658 from Canada or (412) 317-0088 outside the U.S. and use Conference Number 10075349.
The earnings conference call will also be webcast live. To register for and listen to the webcast, go to http://investors.americandg.com/webcast. Following the call, the webcast will be archived for 30 days.