Renewable Energy Stock Alert: Juhl Wind (OTCBB: JUHL) Trades Up on News of 276% Increase in Third Quarter Revenue
Move Over Solar; A Wind Stock that May Blow You Away; Growth in Revenue, Net Income and Cash
Point Roberts WA-, November 17, 2011 (Investorideas.com renewable energy/green newswire) Investorideas.com, a leader in renewable energy stock research, releases a trading and news alert for wind stock, Juhl Wind Inc. (OTCBB: JUHL).
As oil prices top the $100 barrel mark once again , investors that follow renewable energy stocks are looking for the winners within the sector. Following some major disappointments in solar stocks and the headlines of the Solyndra failure, a wind stock that is growing in revenue, net income and cash is gaining investor attention .
Juhl Wind’s stock closed up 5% at $0.63 in Wednesday’s trading session following Tuesday’s news.
Juhl Wind, Inc. Reports Third Quarter 2011 Financial Results, Revenue Up 276%
Nine Months Revenue Increases over 245% from 2010, Company Holds Over $6 Million in Cash
Juhl Wind Inc. (OTCBB: JUHL), the Leader in Community Wind Power, reported Tuesday its results for the third quarter of 2011. Revenue for the third quarter 2011 was $3,259,000 compared to $867,000 in the third quarter of 2010, or an increase of 276%. In addition, for the nine months ended September 30, 2011 , the Company posted a record $10.9 million in revenue and $2.4 million in net income. Juhl Wind also reported continued growth in its cash position due to development fees, ending the first nine months of 2011 with approximately $6 million in cash.
"We are very proud of our results through the third quarter of 2011 as we continue a historic year for our company," stated Dan Juhl , Chairman and CEO of Juhl Wind Inc. "Our financial results are a direct result of our work on six major wind projects during a very difficult time in our economy – which we believe is direct evidence of Juhl Wind 's leading position in the energy industry. These projects include Adams , Danielson, Grant County , Valley View, Winona County and Woodstock Municipal. We have fully developed, managed construction and brought most of these projects into full service over the past two years and will be wrapping up work on all of them in the last quarter of this year."
"When combined with our previous experience, these projects bring our total project count to 20 wind farms – a level reached by few independent firms in this sector," added John Mitola , President of Juhl Wind . "Our performance in the face of such a difficult environment speaks for itself and we are confident that these results create a very strong base for our future growth."
Results for the nine-month period ended September 30, 2011 :
* Revenue for the first nine months of 2011 was $10,937,000 compared to $3,170,000 for 2010, or an increase of $7,767,000 , or 245%. Revenue for the third quarter 2011 was $3,259,000 compared to $867,000 in the third quarter of 2010, or an increase of 276%. The increase in revenue for the nine months ended September 30, 2011 is primarily attributable to approximately $5.0 million of wind farm development fee revenue from three wind farm projects that completed financing arrangements during 2011 and approximately $1.7 million in revenue from the sale of our development rights in the Crofton Hills project.
* Our Operating Income of approximately $4,264,000 for the nine months ended September 30, 2011 is primarily attributable to the increased wind farm development fee revenue which provides high margin of profitability upon revenue recognition. Our operating income for the third quarter increased by approximately $1,019,000 , or 193%, from an operating loss of approximately $529,000 for the quarter ended September 30, 2010 to operating income of approximately $490,000 for the quarter ended September 30, 2011 . The increase in operating income for the quarter is primarily related to the sale of our development rights on the Crofton Hills project although we did see increases in investor relations expenses to heighten exposure of Juhl Wind 's stock and operating expenses associated with the take-over of the Woodstock wind farm during its lower wind production months.
* Our Net Income of $2,419,000 for the nine months ended September 30, 2011 represents a $4,328,000 improvement in the bottom-line from the comparative quarter a year ago. The increase in net income over the nine-month period is largely attributable to the increased revenue sources noted under revenue and operating income sections above. Our net income is impacted by inconsistent revenue patterns of our wind farm development services business as revenue recognition is significantly impacted by the timing of the completion and financing of wind farm projects.
* Basic and fully diluted earnings per share of $0.10 income per common share for the nine months ended September 30, 2011 compares to the $0.10 loss per common share for the comparative nine months ended in 2010.
* As of September 30, 2011 , the Company reported it held approximately $6.0 million in the form of cash and short term investments, which includes approximately $422,000 in balances that are restricted by a debt covenant.
A full analysis of results for the period ended September 30, 2011 is available in the Company's Form 10-Q, which is available on the Company's website at www.juhlwind.com.
About Juhl Wind Inc.
Juhl Wind is an established leader in Community Based Wind Power development and management, focused on wind farm projects throughout the United States and Canada . Juhl Wind pioneered community-based wind farms, developing the currently accepted financial, operational and legal structure providing local ownership of medium-to-large scale wind farms. To date, the Company has completed 19 wind farm projects and provides operations management and oversight across the portfolio. Juhl Wind services every aspect of wind farm development from full development and ownership, general consultation, construction management and system operations and maintenance. With its acquisition of the Woodstock Hills wind farm in April of 2011, the Company now owns and operates a 10.2 MW wind farm. Through its Next Generation Power Systems subsidiary ("NextGen'), Juhl Wind also provides full sales and service to smaller, on-site wind and solar projects in addition to our larger Community Wind Farms. Juhl Wind is based in Woodstock, Minnesota and is traded on the OTCBB under the symbol JUHL. Additional information is available at the Company's website at www.juhlwind.com or by calling 877-584-5946 (or 877-JUHLWIN).
Follow Juhl Wind , Inc. on Facebook HERE!
For more information, contact:
Juhl Wind Investor Relations
Jody Janson
Phone: (888) 438-JUHL (or 888-438-5845)
Email: jody@istockdaily.com
FORWARD LOOKING STATEMENTS
This news release includes forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 including statements that reflect Juhl Wind 's current expectations about its future results, performance, prospects and opportunities. Juhl Wind has tried to identify these forward-looking statements by using words and phrases such as "may," "will," "expects," "anticipates," "believes," "intends," "estimates," "plan," "should," "typical," "preliminary," "hope," or similar expressions. These forward-looking statements are based on information currently available to Juhl Wind and are subject to a number of risks, uncertainties and other factors that could cause Juhl Wind 's actual results, performance, prospects or opportunities in the remainder of 2011 and beyond to differ materially from those expressed in, or implied by, these forward-looking statements and specifically those statements referring to any specific projects, prospective acquisitions and wind farm assets mentioned herein. New projects are subject to large, third party risks that may not be in control of Juhl Wind including the timing of funding and actual construction. While new wind farms noted from time to time are large-scale construction projects, Juhl Wind may not be the primary contractor for the provision of certain services, as it is in certain of its other projects. These risks are referenced in Juhl Wind 's current 8K or as may be described from time to time in Juhl Wind 's subsequent SEC filings; and such factors as incorporated by reference.
About Investorideas.com – a leader in cleantech investor research
Investorideas.com was on the of the first investor sites covering investing in water and renewable energy stocks and has become a global go-to destination for investors researching the cleantech sector, with stock directories, company news, commentary from experts, research reports and industry resources and links. Investors can follow solar stocks commentary on our site with solar expert, J. Peter Lynch.
Investors - sign up for free green stocks trading alerts and news
http://www.investorideas.com/Resources/Newsletter.asp
Follow Renewable Energy Stocks on Facebook.com
http://www.facebook.com/renewableenergystocks
Disclaimer/ Disclosure: Our sites do not make recommendations. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. We attempt to research thoroughly, but we offer no guarantees as to the accuracy of information presented. All Information relating to featured companies is sourced from public documents and/ or the company and its management and is not the opinion of Investorideas.com.
Disclosure : Investorideas.com was compensated fifteen hundred dollars for the dissemination and publishing of this news online and via email by third party IR firm
Learn more: www.InvestorIdeas.com/About/Disclaimer.asp
BC Residents and Investor Disclaimer : Effective September 15 2008 - all BC investors should review all OTC and Pink sheet listed companies for adherence in new disclosure filings and filing appropriate documents with Sedar. Read for more info: http://www.bcsc.bc.ca/release.aspx?id=6894
Investorideas.com is not compensated by BCOn
For more information about Investorideas.com contact:
800.665.0411
Subscribe to:
Post Comments (Atom)
6 comments:
Govt. should organize the whole country and do efforts for the world to encourage more about solar energy systems. Because its the one of the best way which can reduce the Global warming and saves our life.
nice information :)
Work Cover
The Government must organise across the country and the world to support the efforts for more information about the system of solar energy. Because it is one of the best way you can reduce global warming and save our lives.Renewable energy kent
Theirs a wind energy exchange traded fund it trades under the symbol FAN.
Post a Comment