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American DG Energy revenues increased 26%

Staff writer |
American DG Energy reported total revenues of $1,762,314 in the third quarter of 2013, compared to $1,400,255 for the same period in 2012, an increase of 26%.

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GAAP diluted loss per share (EPS) was $(0.02) in the third quarter of 2013, compared with $(0.03) for the same period in 2012.

Energy revenue increased by 24% to $1,652,565 in the third quarter of 2013, compared to $1,337,831 for the same period in 2012. An energy feasibility study was initiated adding $109,749 to bring the year over year increase to 26%.

Utility rates for thermal energy (such as natural gas) decreased approximately 6% and electricity rates decreased by 1% in the third quarter of 2013 compared to the same period in 2012, which lowered our energy revenue for the period.

EBITDA cash outflows for American DG Energy in North America were $26,163 in the third quarter of 2013. The EuroSite Power cash outflows were $258,852; therefore, our consolidated EBITDA cash outflows were $285,015 in the third quarter of 2013. Energy gross profit margin in North America without depreciation was over 44% in the third quarter of 2013.

The company finished the third quarter of 2013 with approximately $10.6 million in cash. The total revenue value of our On-Site Utility energy agreements since inception is approximately $285 million using various market assumptions and estimates made by the Company.

The company raised $965,001 in equity capital through private placements in the quarter 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.


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