American Dg Energy Inc (ADGE) SEC Filing 10-K Annual report for the fiscal year ending Saturday, December 31, 2011

American Dg Energy Inc

CIK: 1378706 Ticker: ADGE



press release

For further information contact:

John Hatsopoulos, American DG Energy

Telephone: 781.522.6020



American DG Energy Reports Fourth Quarter and FY 2011 Financial Performance

Energy revenues increased 13% in 2011 and 21% compounded over a 6 year period


WALTHAM, Mass. – March 6, 2012 –

American DG Energy Inc. (NYSE Amex: ADGE), a leading On-Site Utility, offering clean electricity, heat, hot water and cooling solutions to hospitality, healthcare, housing and athletic facilities, reported energy revenues of $1,435,082 in the fourth quarter of 2011, compared to $1,298,882 in the fourth quarter of 2010, total revenues of $1,469,276 in the fourth quarter of 2011, compared to $1,375,948 in the fourth quarter of 2010 and total revenues of $6,022,868 for the full year in 2011, compared to $5,634,765 in 2010. GAAP diluted loss per share (EPS) was $(0.08) in 2011, compared to $(0.04) in 2010, and GAAP operating loss including EuroSite Power Inc. was $(3,669,728) in 2011, compared to a loss of $(1,681,703) in 2010.


Major Highlights in the Fourth Quarter and FY 2011:




·We received a significant order in December to supply 1,050 kW to residential buildings located in New York. The value of that agreement is $27.4 million over a 15 year period.
·In October we reached an agreement to provide an on-site energy solution via our new ultra-high-efficiency water heater to Sidney Albert Albany Jewish Community Center in Albany, New York.
·During the year we started the operation of a 75 kW combined heat and power system at Sterling Center YMCA, in Beverly Massachusetts, a 150 kW system at Stevens Institute of Technology, in Hoboken, New Jersey and a 375 kW system at Doral Arrowwood Hotel and Conference Center in Rye Brook, New York.
·We entered into an agreement with Nexant, Inc., to monetize the energy efficiency credits for our fleet of combined heat and power systems operating in Massachusetts.
·We entered into a strategic distribution agreement with Global Partners LP to sell our On-Site Utility solution to their energy customers.
·We substantially expanded our sales and marketing effort by adding sales people, broadening our distribution and geographic reach and implementing direct marketing programs targeting potential customers, especially large property owners.
·We introduced EuroSite Power’s On-Site Utility energy solutions in the United Kingdom and Europe.
·We added one part time and ten full time employees to our staff including a Managing Director for EuroSite Power and a Vice President of Business Development in the US.




·In the fourth quarter of 2011 energy revenue increased by 10.5% to $1,435,082 compared to $1,298,882 for the same period in 2010 and energy gross profit margin without depreciation was 28.1%, primarily due to the additional energy systems and the increased hours of operation of our energy systems fleet.
·For the year, our energy revenue increased by 13.1%, although the natural gas price, a key component in calculating our hot water revenue was considerably lower in 2011 compared to 2010.
·Our total energy production grew 23% to 19,049,272 kWh in the fourth quarter of 2011 compared to the same period in 2010, and 17% to 71,379,748 kWh for the entire year of 2011 compared to 2010.
·Our energy gross profit margin without depreciation was 36.1% in 2011.
·Our total cash outflows in 2011 were $1,176,798, of which $907,060 were related to startup expenses at EuroSite Power and the remaining $269,738 were related to the expansion of sales and marketing activity at American DG Energy.
·We added 7 new energy systems in 2011 bringing the total number of energy systems operating to 83 compared to 76 in 2010.


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The following information was filed by American Dg Energy Inc (ADGE) on Tuesday, March 6, 2012 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.

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