Last10K.com

Acorn Energy, Inc. (ACFN) SEC Filing 10-K Annual report for the fiscal year ending Monday, December 31, 2012

Acorn Energy, Inc.

CIK: 880984 Ticker: ACFN

 

 

 

ACORN ENERGY ANNOUNCES Q4 AND FISCAL YEAR 2012 RESULTS

 

Wilmington, DE – March 18, 2013 –

Acorn Energy, Inc. (NASDAQ: ACFN), an energy technology holding company, today announced its results for the fourth quarter and fiscal year periods ended December 31, 2012.

 

For the fiscal year 2012 period, revenues increased $0.5 million, or 3%, to $19.4 million, compared to $18.9 million in the corresponding 2011 period. The net loss for 2012 was $16.7 million, or $0.93 per share, compared to net income of $35.4 million, or $2.03 per share, in 2011. The net income of 2011 was primarily due to a net gain after taxes of $31.1 million on the sale of the Company’s CoaLogix subsidiary and an income tax benefit of $12.8 million recorded as a result of the gain.

 

For the fourth quarter of 2012, Acorn revenue was $4.8 million compared to $6.7 million in the 2011 fourth quarter. Fourth quarter 2012 revenues were lower than expectations due to the delay at GridSense of a major shipment of Transformer IQs® to the first quarter of 2013 combined with the delay in the delivery by USSI of a system to SR2020 to the second quarter of 2013. The net loss for the quarter was $5.4 million, or $0.30 per share, compared to a net loss of $1.1 million, or $0.06 per share, in the corresponding 2011 period.

 

John Moore, President and CEO of Acorn, remarked that “We invested aggressively in our businesses in 2012, approximately $28.55 million in cash. Those investments include $8.5 million for the purchase of OMNIMETRIX followed by an additional $2.5 million for growth capital, $10.25 million in US Seismic, $5.3 million in GridSense and $2.0 million in DSIT. We also had corporate operating costs of $5.3 million and paid $3.2 million of dividends. We had $22.7 million in corporate cash at the end of 2012 and we have budgeted $12 million of additional investment in our four subsidiaries in 2012. We have the cash for our projected needs in 2013.

 

“This year, US Seismic will evolve from testing to a commercial solution for the oil and gas industry. We expect to announce follow on orders from our early adopters and initial orders from a national oil company and a major oil services company in the first half of 2013.

 

“We have a plan. We are working the plan. The plan says we will be cash flow positive in 2014. Each of our businesses is at a different point in the commercial spectrum and we are investing aggressively to mature each of them to the point where they are self-sustaining. I am extremely excited about the future of our company.”

 


The following information was filed by Acorn Energy, Inc. (ACFN) on Monday, March 18, 2013 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one year to another to evaluate Acorn Energy, Inc.'s financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Acorn Energy, Inc..

Continue

Assess how Acorn Energy, Inc.'s management team is paid from their Annual Proxy

Definitive Proxy Statement (Form DEF 14A)
Screenshot example of actual Proxy Statement

Acorn Energy, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2013 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

Continue

SEC Filing Tools

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Dei Document
Consolidated Balance Sheets
Consolidated Statements Of Cash Flows
Consolidated Statements Of Changes In Equity
Consolidated Statements Of Comprehensive Loss
Consolidated Statements Of Operations
Accrued Severance And Severance Assets
Accrued Severance And Severance Assets Accrued Severance And Severance Assets (details)
Accrued Severance And Severance Assets Defined Contribution Plans (details)
Acquisition Of Omnimetrix Fair Value Of Assets And Liabilities Acquired (details)
Acquisitions
Acquisitions (tables)
Acquisitions Acquisition Of Omnimetrix - Intangible Assets Acquired (details)
Acquisitions Gridsense (details)
Acquisitions Omnimetrix, Llc. (details)
Acquisitions Ussi (details)
Bank Debt And Other Debt
Bank Debt And Other Debt (details)
Bank Debt And Other Debt (tables)
Bank Debt And Other Debt Debt Summary (details)
Commitments And Contingencies
Commitments And Contingencies (tables)
Commitments And Contingencies Guarantees (details)
Commitments And Contingencies Leases Of Property And Equipment (details)
Commitments And Contingencies Royalties (details)
Discontinued Operations
Discontinued Operations (tables)
Discontinued Operations Coreworx (details)
Discontinued Operations Summary Of Discountinued Operations (details)
Equity
Equity (tables)
Equity - Dsit Option Plan (details)
Equity - Dsit Option Plan By Exercise Price Range (details)
Equity - Non-employee Option Grants (details)
Equity - Treasury Shares (details)
Equity Capital Raise (details)
Equity Directors And Officers (details)
Equity Dividend Reinvestment Plan (details)
Equity Dividends (details)
Equity Dividends Paid (details)
Equity General (details)
Equity Net Warrant Exercise (details)
Equity Option Exercised (details)
Equity Share-based Compensation Expense (details)
Equity Share-based Compensation Option-pricing Model Assumptions (details)
Equity Stock Option Activity (details)
Equity Stock Option Activity - Ussi (details)
Equity Stock Options By Exercise Price Range (details)
Equity Ussi Stock Option Plan (details)
Equity Warrants (details)
Equity Warrants Activity (details)
Equity Weighted Average Fair Value Of Options Granted (details)
Fair Value Measurements
Fair Value Measurements (details)
Fair Value Measurements (tables)
Finance Expense, Net
Finance Expense, Net (details)
Finance Expense, Net (tables)
Financial Instruments
Goodwill And Intangible Assets
Goodwill And Intangible Assets (details)
Goodwill And Intangible Assets (tables)
Goodwill And Intangible Assets Amortization Expense - Current Period And Prior Period (details)
Goodwill And Intangible Assets Future Year's Amortization Expense (details)
Goodwill And Intangible Assets Schedule Of Intangibles (details)
Income Taxes
Income Taxes (details)
Income Taxes (tables)
Income Taxes Analysis Of Deferred Tax Assets And (liabilities) (details)
Income Taxes Composition Of Income Tax Expense (benefit) (details)
Income Taxes Effective Income Tax Rates (details)
Income Taxes Summary Of Tax Loss Carryforwards (details)
Income Taxes Taxation In Australia (details)
Income Taxes Taxation In Israel (details)
Income Taxes Taxation In The United States (details)
Income Taxes Uncertain Tax Positions (utp) (details)
Inventory
Inventory (details)
Inventory (tables)
Nature Of Operations
Nature Of Operations Revenue Recognition (details)
Non-controlling Interests
Non-controlling Interests (details)
Non-controlling Interests (tables)
Other Current Assets
Other Current Assets (details)
Other Current Assets (tables)
Other Current Liabilities
Other Current Liabilities (details)
Other Current Liabilities (tables)
Other Investments
Other Investments (details)
Other Investments Enertech Capital Partners (details)
Other Investments Hangxing (details)
Property And Equipment, Net
Property And Equipment, Net (details)
Property And Equipment, Net (tables)
Related Party Balances And Transactions
Related Party Balances And Transactions (details)
Sale Of Coalogix
Sale Of Coalogix (details)
Segment Reporting
Segment Reporting (details)
Segment Reporting (tables)
Segment Reporting Reconciliation Of Segment Assets - Other Significant Items (details)
Segment Reporting Reconciliation Of Segment Income (loss) To Consolidated Net Income (loss) (details)
Segment Reporting Segment Reporting - Major Customers (details)
Segment Reporting Segment Reporting - Reconciliation Of Total Consolidated Assets (details)
Segment Reporting Segment Reporting - Revenues Based On Location Of Customer (details)
Subsequent Events
Subsequent Events Acorn Dividend (details)
Subsequent Events Acorn Investment In Ussi (details)
Subsequent Events Gridsense Employee Incentive Plan (details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies Advertising (details)
Summary Of Significant Accounting Policies Allowance For Doubtful Accounts (details)
Summary Of Significant Accounting Policies Amounts Used In Computing Eps (tables)
Summary Of Significant Accounting Policies Basic And Diluted Net Income (loss) Per Share (details)
Summary Of Significant Accounting Policies Concentration Of Credit Risk (details)
Summary Of Significant Accounting Policies Impairment Of Long-lived Assets (details)
Summary Of Significant Accounting Policies Inventory (details)
Summary Of Significant Accounting Policies Principles Of Consolidation (details)
Summary Of Significant Accounting Policies Warranty Provision (details)
Summary Quarterly Financial Data
Summary Quarterly Financial Data (details)
Summary Quarterly Financial Data (tables)
Ticker: ACFN
CIK: 880984
Form Type: 10-K Annual Report
Accession Number: 0000880984-13-000004
Submitted to the SEC: Mon Mar 18 2013 4:21:46 PM EST
Accepted by the SEC: Mon Mar 18 2013
Period: Monday, December 31, 2012
Industry: Engineering Services

External Resources:
Stock Quote
Social Media

Bookmark the Permalink:
https://last10k.com/sec-filings/acfn/0000880984-13-000004.htm