- Total revenue increased by approximately $1,287,000, or 369.4%, from approximately $348,000 for the quarter ended March 31, 2009, to approximately $1,635,000 for the quarter ended March 31, 2010. The large increase in revenue is primarily attributable to approximately $843,000 of construction contract revenue from two wind farm construction projects during the first quarter of 2010. The projects were substantially completed as of March 31, 2010 and are expected to be commissioned during the second quarter of 2010. Therefore, nearly all revenue from the two projects has been recognized to-date.
- Net Income (Loss) decreased by approximately $1,108,000, or 203.6%, from net income of approximately $544,000 for the quarter ended March 31, 2009 to a net loss of approximately $564,000 for the quarter ended March 31, 2010. However, investors should note that our net loss in the first quarter of 2009 was significantly impacted by the fair value accounting over warrant derivatives and a subsequent non-cash gain of approximately $1,350,000 reported for the quarter ended March 31, 2009.
- Operating Expenses decreased by approximately $84,000, or 8.6%, from $973,000 for the quarter ended March 31, 2009 to $889,000 for the quarter ended March 31, 2010. The decrease was primarily attributable to a reduction in professional fees that had been incurred a year ago that we did not expect to see on a recurring basis and we realized such in this quarter.
- Basic and diluted income of $0.02 per common share for 2009 as compared to $0.03 loss per common share for 2010. Again, the income per share calculation in the first quarter of 2009 was significantly impacted by the fair value accounting over warrant derivatives and a subsequent non-cash gain of approximately $1,350,000 reported for the quarter ended March 31, 2009
- As of March 31, 2010, the Company reported it held approximately $3,900,000 in the form of cash accounts and short term investments, which includes approximately $414,000 in balances that are restricted by a debt covenant.
Juhl Wind, Inc. Reports Results For The Quarter Ended March 31, 2010 - Revenues Increase 369% Over Prior Period
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