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Juhl Wind (JUHL) Posts Solid Q2 Figures, Highlights FY2011 Results

|Includes: Juhl Energy, Inc. (JUHL)

Juhl Wind Inc., provider of community-based wind power farm projects in the United States, today announced its results for the first second quarter of 2011, as well as for the six months of 2011, reflecting its ability to finish off the first half of the year with more than $7.5 million in revenue and achieving its first positive operating income for the first half of any given operating year since becoming a public company.

Revenue for the second quarter 2011 increased 63 percent to $1.0 million compared to $668,000 in the second quarter of 2010. The company reported an operating loss for the second quarter of $1.0 million, an 18 percent increase over the 2010 second-quarter operating loss of $849,000. The company attributes the deeper loss to increases in investor relations expenses. Juhl reported a second-quarter net loss of $642,000 compared to net income of $2.8 million reported for the three months ended March 31, 2011.

“We are obviously, very pleased to file our 10Q for the second quarter of 2011 where we continued to build upon our success from the first quarter, again delivering strong financial results,” Dan Juhl, chairman and CEO of Juhl stated in the press release. “As we have been reporting to the market, the first half of this year saw us wrapping up construction on key wind farms as well as pulling together the permanent, take-out financing on others.”

Revenue for the six months ended June 30, 2011, was $7.6 million, a 233 percent increase compared to $2.3 million reported for the comparable six months of 2010. Operating income for the first half was $3.7 million. An increase in wind farm development fee revenue contributed to an increase in operating income to $3.7 million for the six months ended June 30, 2011. Net income of $2.1 million, or $0.09 per common share, for the six months ended June 30, 2011, represents a $3.5 million improvement in the bottom-line compared to the first half of 2010.

As of June 30, 2011, the company had approximately $5.3 million in the form of cash and short term investments.

“We believe that our financial performance in the first half of 2011 continues to underscore just how much our team has accomplished in the past couple of years, with the successful ongoing development and construction of seven wind farm projects,” John Mitola, president of Juhl stated. “With over $5.7 million in cash on our balance sheet as of today’s press release, we know we enjoy one of the most solid balance sheets in the wind industry amongst independent developers, owners and operators. This cash puts us in a position of strength to implement the growth initiatives we laid out in our first quarter outlook conference call.”

Mitola said the company plans on leveraging the strength of its balance sheet to push through new wind farm projects in addition to those already in the company’s pipeline.

“While we have seen the value of our development business in the first half of this year, we also plan to continue to build our residual, steady revenue generating businesses through additional acquisitions of existing wind farms, like Woodstock Hills, growing our wind farm operations and maintenance business and growing our consulting services operation,” Mitola stated. “We have shown results in this area already with our acquisition of the existing Woodstock Hills, 10MW wind farm and with our planned acquisition of a medium sized, engineering consulting business. We plan to pursue important steps within these areas through the remainder of 2011.”

For more information visit juhlwind.com

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