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

Ameresco Postpones Fourth Quarter And Full Year Earnings Release

Ameresco, Inc. (NYSE:AMRC), a leading energy efficiency and renewable energy company, today announced that it is postponing the release of its financial results for the fourth quarter and full year 2012, as well as its related conference call, because it is evaluating the designation of an interest rate swap used in its hedging strategy to manage interest rate risk.

The Company maintains a portfolio of eight interest rate swaps used to hedge exposure to adverse changes in short-term market rates related primarily to renewable energy project financings. Each of the interest rate swaps has been designated as a fair value hedge using hedge accounting under ASC 815-20-25. Seven of the interest rate swaps have been designated as hedges using the “long-haul” method; one was entered into and designated as a hedge in March 2010 using the “short cut” method. Based on a review of its swaps conducted in connection with entering into new swaps in the fourth quarter of 2012, the Company has retrospectively determined that designation of this particular interest rate swap using the “short cut” method was not appropriate.

Under ASC 815-20-25, for interest rate swaps designated as hedges using either of the “short cut” or “long-haul” methods, the fair value of the swap is recorded in the consolidated balance sheet and any changes in fair value of the swap are recorded as adjustments to other comprehensive income (loss). The analysis underlying the determination to rely upon the “short-cut” method is complex and subject to interpretation. If an interest rate swap designated using the “short cut” is retrospectively determined not to have qualified for that method, then hedge accounting treatment for prior periods is not appropriate. In that event, any changes in fair value would be recorded, as a non-cash item, in other income (expense) in the consolidated statements of income for any periods during which the swap does not qualify as a hedge.

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
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community


Chart of I:DJI
DOW 16,102.38 -272.38 -1.66%
S&P 500 1,921.22 -29.91 -1.53%
NASDAQ 4,683.9190 -49.5780 -1.05%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs