PowerSecure at a New 52-Week High of $13.79 After Adding $60 Million To Revenue Backlog

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Shares of PowerSecure ( POWR ) is up more than 7% and has hit a new 52 week high of $13.58 after announcing that it has added approximately $60 million to its revenue backlog, including approximately $24 million from ESCO contracts it acquired in February 2013 and approximately $36 million in new business.

Excluding the $2 million in new recurring revenues, the majority of the $60 million that has been added to the revenue backlog is expected to be recognized as work is completed throughout 2013.

PowerSecure - a provider of products and services to electric utilities and to their commercial, institutional and industrial customers - will provide an update on its total backlog on May 8, 2013 in its press release announcing first quarter 2013 financial results. The updated backlog number will include the additional backlog discussed in this release, netted against backlog which was recognized as revenue in the first quarter of 2013. The company previously reported its total backlog was $183 million as of March 7, 2013 in its press release announcing fourth quarter and full year 2012 financial results.



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This article appears in: Investing , Commodities

Referenced Stocks: POWR

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