This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Juhl Wind, Inc. Reports Results For The Twelve-Month Period Ended December 31, 2010

WOODSTOCK, Minn., March 31, 2011 /PRNewswire/ -- Juhl Wind, Inc. (OTCBB: JUHL), the Leader in Community Wind Power, today announced its results for the year ended December 31, 2010.  

"We are very pleased to report our results for the 2010 fiscal year," stated Dan Juhl, Chairman and CEO of Juhl Wind, Inc.  "By adding the bulk of construction on three major wind farms and one of our smaller wind systems to our base wind farm operations revenue, we enjoyed another solid revenue year despite the continued difficult larger economic environment.  But, more importantly, those accomplishments have set us on the path to derive significant development fee revenue and profit in the first half of 2011."  

"After making it through a tough period in the general economy, we began to see the fruits of our efforts in the latter half of 2010," added John Mitola, President.  "In the latter half of 2010, we successfully arranged the construction financings required to move forward with our Adams, Danielson and Valley View wind farm projects.  In our "Subsequent Events" section of our 10K we have described how that work in 2010 is beginning to produce development/construction revenue and profits in the first half of 2011.  As a result, we believe Juhl Wind will be enjoying a relatively strong balance sheet position versus our peers in the wind development and operations business.  We believe that puts us in a very strong competitive position going forward."

"In approximately the past year and a half, Juhl Wind has built or is almost about to wrap up the construction on 6 new wind projects totaling about $150 million in value," continued Mitola.  "And, in the first half of this year we expect to announce the launch of the full-scale development of another approximate 40 megawatt wind farm we hope will be completed in 2011.  We believe this level of wind projects to be taken through full-scale development, construction and placed in service is unmatched in the industry and sets Juhl Wind apart from most other independent developers of wind power."

"Given the unfortunate tragedy in Japan and ensuing problems with the Fukishimu nuclear facility, there is most definitely renewed interest in renewable power," added Mitola.  "Even some of the leaders of the nuclear industry in the U.S. have suggested that this incident will set new nuclear power back another 20 years at the very least.  As a result, we expect more calls for wind power throughout the U.S.  And, we believe Juhl Wind is uniquely positioned amongst independent developers with our strong market niche in community wind coupled with the growing strength of our balance sheet here in 2011."

Results for the twelve-month period ended December 31, 2010:
  • Total revenue decreased by approximately $5,408,000, or 46.3%, from approximately $11,676,000 for the year ended December 31, 2009, to approximately $6,268,000, for the year ended December 31, 2010. We experienced a decrease in revenue due to changes in the nature of our construction responsibilities and turbine supply arrangements that led to a reduction in revenue recognition.  However, we do not believe these changes to revenue recognition will have a significant impact on our bottom line profitability from each project.  Four construction projects were in progress at December 31, 2010 of which two were completed in March 2011.
  • The Operating Loss of $2,747,000 for the year ended December 31, 2010 only increased by approximately $146,000 over 2009 despite the lower revenue volume as we were able to decrease our overall operating expenses by 6.7%.
  • Our Net Loss of $1,800,000 for the year ended December 31, 2010 as compared to $131,000 in 2009.   The 2010 Net Loss represents a $531,000 improvement in the bottom-line when excluding the $2.2 million non-cash gain recorded in 2009 from the fair value accounting over the warrant derivatives.  This improvement is primarily attributable to recognition of deferred income tax benefits.
  • Basic and diluted loss of $0.10 loss per common share for 2010 compares to the $0.16 loss per common share for 2009.
  • As of December 31, 2010, the Company reported it held approximately $1,691,000 in the form of cash accounts and short term investments, which includes approximately $419,000 in balances that are restricted by a debt covenant.
  • Certain significant events transpired subsequent to December 31, 2010 that have significantly enhanced our liquidity and which will impact our revenue recognition in first half 2011. Three of our wind farm development projects received equity funding in March 2011 for which we have received a total of approximately $2.5 million in cash with an additional $1.8 million expected in April 2011. In addition, we received $1 million in cash in March 2011 relating to an advance on our development work to-date on a project that is expected to be co-developed with an experienced large energy company.    

A full analysis of results for the period ended December 31, 2010 is available in the Company's Form 10-K, which is available on the Company's website at or through the Securities and Exchange Commission's Edgar database.  

Juhl Wind, Inc. management will be hosting a teleconference and web cast to discuss these results with the investment community on Monday, April 4th, 2011 at 4:30 p.m. ET.  The details of the presentation are as follows:

Time: 4:30 p.m. Eastern Time

Date: Monday, April 4th, 2011

Investor Dial-in (Toll Free): (877) 407-9210

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,820.24 +100.32 0.57%
S&P 500 2,092.06 +11.65 0.56%
NASDAQ 5,131.4460 +22.78 0.45%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs