This Day On The Street
Continue to site right-arrow
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
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Lime Energy Co. Reports Results For Three-Month Period Ended March 31, 2013

Lime Energy Co. (NASDAQ: LIME), a leader in designing and implementing energy efficiency programs for utilities, today announced its results for the three-month period ended March 31, 2013. “As we continue to execute against our business initiatives we are realizing improved financial and operational results over last year, when adjusted for the $1.3 million of costs related to the restatement and stockholder lawsuits. The focus on technology and operations is beginning to yield measurable and tangible results. We believe that these trends will continue thru the remainder of 2013, positioning the company for a stable operating environment in 2014,” stated John O’Rourke, Lime’s Chief Executive Officer.

Results for the three-month period ended March 31, 2013:

  • Revenue increased $474 thousand, or 4.1% to $12 million;
  • Gross profit increase $572 thousand, or 27.9% to $2.6 million;
  • Selling, general and administrative expenses increased $920 thousand, or 17.3%, including $1.3 million of costs related to the restatement completed in July 2013 and the ongoing stockholder lawsuits.* Adjusting for these one-time expenses, SG&A declined $358 thousand or 6.7%;
  • The loss from continuing operations increased $536 thousand, or 15.8%, including the one-time charges related to the restatement and ongoing lawsuits. Adjusting for the $1.3 million of one-time charges, the loss declined $742 thousand or 21.9%, to $2.7 million.*
  • The loss from discontinued operations increased $2.0 million to $2.8 million;
  • The net loss increased $2.5 million to 6.7 million;
  • The basic and diluted loss per common share from continuing operations increased $0.02 per share to a loss of $0.16 per share. The $1.3 million of one-time expenses contributed $0.05 to the first quarter loss;
  • The basic and diluted loss per common share from discontinued operations increased $0.08 per share to $0.11 per share; and
  • The adjusted EBITDA loss, excluding the loss from discontinued operations, increased $837 thousand or 35.8%, to $3.2 million including the one-time charges. Adjusted for the $1.3 million of one-time expenses, the adjusted EBITDA loss, excluding discontinued operations, declined $441 thousand, or 18.9%, to $1.9 million.*

* Please see the reconciliation of non-GAAP financial measures and Regulation G disclosure later in this press release.

1 of 5

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
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

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
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,895.15 -240.57 -1.33%
S&P 500 2,077.25 -23.79 -1.13%
NASDAQ 4,938.8860 -43.9230 -0.88%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs