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

Lime Energy Co. Reports Results For Twelve-Month Period Ended December 31, 2013

Lime Energy Co. (NASDAQ: LIME), a leader in designing and implementing demand-side energy efficiency programs for utilities, today announced its results for the twelve month period ended December 31, 2013. “Having completed an important year of sharpening focus, dramatic growth, improved performance, and significant investment in our technology platform, Lime Energy is stronger today than at any time in our history,” said Lime Energy President & CEO Adam Procell. “Lime is now perfectly aligned with our valued utility clients, and with our clean balance sheet and latest round of financing, we are better able to serve these clients and their small business customers.”

Results for the twelve-month period ended December 31, 2013
  • 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.*

* 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
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
AAPL $93.99 0.31%
FB $102.01 0.10%
GOOG $682.40 -0.10%
TSLA $151.04 0.38%
YHOO $27.04 1.05%


Chart of I:DJI
DOW 15,973.84 +313.66 2.00%
S&P 500 1,864.78 +35.70 1.95%
NASDAQ 4,337.5120 +70.6750 1.66%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs