- Consolidated revenue from continuing operations increased $1.1 million, or 9.5% to $12.3 million.
- Gross profit increased $1.1 million, or 42.0%, to $3.7 million. The gross profit margin improved from 23.4% to 30.4%.
- Selling, general and administrative expense declined $1.1 million, or 18.6% to $4.9 million. SG&A expense for the first quarter included $289 thousand of legal expenses related to the restatement and associated stockholder lawsuits and SEC investigation, compared to $1.3 million in the year-earlier period. Excluding these unusual expenses, SG&A declined $130 thousand, or 2.8%.
- The loss from continuing operations declined $2.5 million, or 68.1%, to $1.2 million.
- The loss from discontinued operations declined $3.0 million, or 99.9%, to $3 thousand.
- The net loss declined $5.5 million, or 82.6%, to $1.2 million.
- The basic and diluted loss per share from continuing operations declined $0.31 to $0.71 from $1.02. The loss per share from discontinued operations declined $0.85 to $0.00 from $0.85. The total net loss per share declined $1.16 to $0.71 from $1.87. The expenses related to the restatement and associated stockholder lawsuits and SEC investigation contributed $0.08 and $0.36 to the basic and diluted loss per share from continuing operations and the total net loss per share for the three-month periods ended March 31, 2014 and 2013, respectively.
- The adjusted EBITDA loss declined $2.1 million, or 70.7%, to $867 thousand from $3.0 million. Excluding expenses related to the restatement and associated stockholder lawsuits and SEC investigation, the adjusted EBITDA loss declined $1.1 million, or 65.6% to $578 thousand from $1.7 million.*
Lime Energy Co. Reports Results For Three-Month Period Ended March 31, 2014
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