Jun. 25, 2014, 9:10 AM
Jun. 25, 2014, 8:55 AM
- PowerSecure (POWR) +13.3% premarket on news it has modified the service arrangement with one of its major utility customers to improve the terms of its ongoing service.
- The modifications include adjustments to pricing, work assignments and expected improvements in the ongoing scope of work.
- POWR says the changes will restore the profitability of the work provided to the utility.
- Also says it will vigorously defend against claims made in securities class action lawsuits filed last month against the company and two of its officers.
May. 27, 2014, 5:35 PM
May. 21, 2014, 9:47 AM
- Nimble Storage (NMBL +4.7%) has been upgraded to Buy by Wunderlich. Goldman, Needham, and William Blair have also upgraded Nimble over the last 9 days, following a sharp selloff.
- Pegasystems (PEGA +4.6%) has been upgraded to Outperform by Wedbush. Shares rose two weeks ago following a Q1 beat.
- Quality Systems (QSII +3.8%) has been upgraded to Outperform by RBC ahead of its May 29 FQ4 report. The firm cites positive checks.
- PowerSecure (POWR +4.4%) has been upgraded to Buy by Craig-Hallum following its giant May 8 post-earnings crash.
- MakeMyTrip (MMYT +10.5%) has been started at Buy by Citi.
May. 13, 2014, 11:51 AM
- With shares having crashed in response to a big Q1 miss and worse guidance, PowerSecure (POWR +4.6%) says it plans to start using an existing $5M buyback authorization, and will "explore options to expand and extend" it. (8-K)
- PowerSecure had $38.2M in cash at the end of Q1, but that figure represented a $12.7M Q/Q decline.
May. 8, 2014, 2:31 PM
- On top of badly missing Q1 estimates, PowerSecure (POWR -61.7%) is guiding for Q2 revenue of $55M-$60M and EPS of -$0.09 to -$0.15, far below a consensus of $77.6M and $0.15. Revenue is expected to grow to $62M-$67M in Q3 (below an $89.3M consensus), and $67M-$72M in Q4.
- PowerSecure ended Q1 with $38.2M in cash, down sharply from $50.9M at the end of Q4. Term debt and capital leases total $26.1M.
- Backlog is currently at $225M, down from $248M at the time of the March 10 Q4 report. Gross margin fell to 20.9% in Q1 from 30.6% a year ago.
- The company says it "mis-timed actions to shift resources to more profitable customers," and is seeing "protracted timing in converting larger distributed generation project opportunities from [its] pipeline."
- Silver Spring Networks, another technology provider to utilities, crashed yesterday after providing weak guidance blamed on delayed deal closings.
- Q1 results, PR
May. 8, 2014, 12:48 PM
May. 8, 2014, 9:16 AM
May. 7, 2014, 5:23 PM
Mar. 11, 2014, 10:27 AM
- PowerSecure International (POWR +10.2%) surges to a new all-time high following a strong Q4 earnings beat on a 57% surge in revenue, driven by gains in its energy efficiency and utility infrastructure businesses.
- Revenue backlog stands at an all-time high of $248M; operating margin decreased to 4.8% vs. 6.7% in the year-ago quarter, driven by the decrease in gross margins and partially offset by a decrease in operating expenses as a percentage of revenues.
- POWR is upgraded to Buy from Hold with a $30 price target at Maxim Group, which cites the record backlog, its pipeline of opportunities and expectations for margins to gravitate higher throughout 2014-15; Baird raises its price target to $29, also citing expected margin expansion.
Mar. 10, 2014, 5:49 PM
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PowerSecure International Inc provides products and services to electric utilities. It provides its products through three segments:Distributed Generation segment,Utility Infrastructure segment, andEnergy Efficiency segment.
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