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FOR IMMEDIATE RELEASE
Investor Contact: John N. Hatsopoulos American DG Energy Inc. 781.622.1120 john.hatsopoulos@americandg.com
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Media Contact: Barry J. Sanders American DG Energy Inc. 781.522.6010 barry.sanders@americandg.com
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American DG Energy Reports 2013 Financial Performance
Revenue increases 32% compared to 2012
WALTHAM, Mass. – March 31, 2014 – American DG Energy Inc. (NYSE MKT: ADGE), a leading On-Site Utility, offering clean electricity, heat, hot water and cooling solutions to hospitality, healthcare, housing and athletic facilities, reported unaudited financial results for Fiscal Year 2013. Total revenues were $7,461,880 in 2013, compared to $5,645,194 in 2012, an increase of 32%. GAAP diluted loss per share (EPS) was $(0.10) in 2013, compared to $(0.14) in 2012.
Major Highlights:
Financial
• | Energy revenue increased by 33% to $7,164,226 in 2013, compared to the same period in 2012. |
• | Energy gross profit margin in North America without depreciation was over 36% in 2013. |
• | Utility rates for thermal energy (such as natural gas) decreased approximately 10% and electricity rates decreased by 11% in the fourth quarter of 2013 compared to the same period in 2012, which lowered our energy revenue for the period. |
• | The company received $285,718 of incentives in 2013. |
• | We finished 2013 with approximately $9.8 million in cash. |
• | The total revenue value of our On-Site Utility energy agreements since inception is approximately $300 million using various market assumptions and estimates made by the Company. |
• | During June 2013, EuroSite Power issued 4% Senior Unsecured Convertible Notes Due 2015 and raised $4.0 million; $2.9 million from accredited investors and $1.1 million from conversion of an American DG Energy note. |
• | During August and September of 2013, the company raised $965,001 in equity capital through private placements from a major shareholder and a member of the Board of Directors. |
• | On August 15, 2013 shareholders of American DG Energy received a special dividend of an aggregate of 4,880,720 shares of EuroSite Power. |
Operations
• | Total energy production increased by 34% to 99.4 million kWh in 2013 compared to the same period in 2012. |
• | The associated revenue in 2013 was attributable to the following core markets: |
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American Dg Energy Inc's Definitive Proxy Statement (Form DEF 14A) filed after their 2014 10-K Annual Report includes:
Financial Statements, Disclosures and Schedules
Inside this 10-K Annual Report
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American Dg Energy Inc provided additional information to their SEC Filing as exhibits
Ticker: ADGE
CIK: 1378706
Form Type: 10-K Annual Report
Accession Number: 0001378706-14-000002
Submitted to the SEC: Wed Apr 09 2014 1:54:06 PM EST
Accepted by the SEC: Wed Apr 09 2014
Period: Tuesday, December 31, 2013
Industry: Electric And Other Services Combined