- Consolidated revenue from continuing operations increased $16.1 million, or 45.5%, to $51.6 million from $35.4 million in the year-earlier period.
- Gross profit increased $6.5 million, or 88.2%, to $13.8 million, while the gross profit margin improved from 20.7% to 26.8%.
- Selling, general and administrative expense declined $5 thousand to $22.9 million. SG&A expense for 2013 included $2.6 million of expenses related to the restatement and ongoing stockholder lawsuits compared to $2.8 million of similar expenses in the year-earlier period. Excluding these expenses, SG&A increased $254 thousand, or 1.3%, from 2012 levels.
- The loss from continuing operations declined $4.6 million, or 29.3%, to $11.1 million.
- The loss from discontinued operations declined $11.6 million, or 72.0%, to $4.5 million.
- The net loss declined $16.2 million, or 50.8%, to $15.6 million.
- The basic and diluted loss per share from continuing operations declined $0.58, or 12.9%, to $3.90 from $4.48. The loss per share from discontinued operations declined $3.31, or 72.6%, to $1.25 from $4.56. The total net loss per share declined $3.89, or 43.0%, to $5.15 from $9.04. The expenses related to the restatement and stockholder lawsuits contributed $0.72 and $0.81 to the basic and diluted loss per share from continuing operations and the total net loss per share for the twelve-month periods ended December 31, 2013 and 2012, respectively.
- The adjusted EBITDA loss declined $4.8 million, or 39.7%, to $7.3 million from $12.0 million. Excluding expenses related to the restatement and stockholder lawsuits, the adjusted EBITDA loss declined $4.5 million, or 49.2%, to $4.7 million from $9.2 million.*
Lime Energy Co. Reports Results For Twelve-Month Period Ended December 31, 2013
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