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American DG Energy Reports FY 2007 and Fourth Quarter Financial Performance
WALTHAM, Mass. - February 28, 2008
American
DG Energy Inc. (OTC.BB:ADGE), a leading On-Site Utility offering electricity, heat, hot water and cooling to hospitality, healthcare, housing and athletic facilities, reported that revenues increased by 84% to $5,847,020 in 2007, over revenues of $3,174,326 in 2006. GAAP diluted earnings per share (EPS) were $(0.05) in 2007 compared with $(0.09) in 2006, and GAAP operating income was a loss of $(905,007) in 2007, compared with a loss of $(1,853,180) in 2006.
2007 highlights versus 2006:
- Revenues increased 84%
- Gross margins expanded to 22% from 14%
“We are excited to report revenue growth of 84% in 2007, together with significant improvement in our gross margin. This performance reflects our ongoing commitment to focus on efficiency from both our operations and our combined heat and power technology. This efficiency and its true carbon reduction is important to our customers and was recognized by the US EPA, as we previously reported,” said John N. Hatsopoulos, Chief Executive Officer of American DG Energy.
Conference Call
American DG Energy will hold its earnings conference call today, February 28, at 9:00 a.m. Eastern time. To listen, dial (800) 860-2442 within the U.S. or (412) 858-4600 outside the U.S. Participants should reference American DG Energy to access the call. The earnings press release will be available on the Company web site at www.americandg.com in the “Investors” section under “News Releases.” The call will be available for playback through Wednesday, March 5, 2008. To listen to the playback, call (877) 344-7529 within the U.S. or (412) 317-0088 outside the U.S. and use Playback Code 416698.
About American DG Energy
American DG Energy (OTC.BB:ADGE) supplies low-cost energy to its customers through distributed power generating systems. The company is committed to providing institutional, commercial, and small industrial facilities with clean, reliable power, cooling, heat and hot water at lower costs than charged by local utilities – without any capital or start-up costs to the energy user. American DG Energy is headquartered in Waltham, Massachusetts. More information can be found at www.americandg.com.
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FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements under the Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. Important factors could cause actual results to differ materially from those indicated by such forward-looking statements, as disclosed on the Company’s website and SEC filings. This press release does not constitute an offer to buy or sell securities by the Company, its subsidiaries or any associated party and is meant purely for informational purposes.
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