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TheStreet Open House

ECOtality Reports 2013 First Quarter Financial Results

Stock quotes in this article: ECTY

First Quarter 2013 Operational Highlights

  • Announced the launch of the Minit-Charger 12, the foundation for the next generation of Minit-Charger's industrial products.  
  • Expanded partnership with Kroger to include the $1.5 million sale and installation of over 200 level 2 (quick charge) charging stations and 25 DC Fast Chargers.  
  • Partnered with ChargePoint, Inc. to establish Collaboratev, LLC to enable interoperability and mapping services for the EV charging industry.  
  • Broadened relationship with Sears to include Blink® Direct Current (DC) Fast Charger stations at several Sears stores in Tennessee and Arizona.  
  • Entered Georgia market through agreement with Georgia Power, the largest subsidiary of Southern Company, one of the nation's largest generators of electricity, to add Blink chargers at its Atlanta headquarters.

Management Commentary

"We are making progress in shifting our business from one primarily dependent on the EV Project to a company with a diversified product and services offering serving consumers, industrial and government clients," Mr. Brar continued. "We believe that each of our three complementary product and service offerings present compelling growth opportunities and we have set aggressive internal sales targets. Our efforts to expand our national account program have been encouraging, as the recent agreements with Kroger and Texas Instruments demonstrate our early traction and the viability of our charging stations and network. We are actively working to expand our Blink network across the country through our indirect sales channels and dealer network. In addition, the Minit-Charger 12 is our first step to rejuvenate our presence in the industrial sector, and we are preparing to begin installations in the third quarter."

Conference Call

ECOtality President and CEO Ravi Brar and CFO Susie Herrmann will host the presentation, followed by a question and answer period.

Date: Wednesday, May 15, 2013
Time: 4:30 p.m. Eastern time (1:30 p.m. Pacific time)
Dial-In number: 1-877-941-2069
International: 1-480-629-9713
Conference ID#: 4619608

The live conference call will be webcast simultaneously and available for replay via the Investor Relations section of the company's website at http://investor.ecotality.com/ .

Please call the conference telephone number 5-10 minutes prior to the start time. An operator will register your name and organization.

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