Lime Energy Co., a leader in designing and implementing demand-side energy efficiency programs for utilities, today announced its results for the three-month period ended March 31, 2015.
HUNTERSVILLE, NC, May 18, 2015–Lime Energy Co. (NASDAQ: LIME), a leader in designing and implementing demand-side energy efficiency programs for utilities, today announced its results for the three-month period ended March 31, 2015. “The Lime Energy team delivered on several of our goals in the first quarter of 2015 – strong financial performance and the completion of a major acquisition,” said Adam Procell, Lime’s President & CEO. “Our YTD sales performance has been strong, integration is going well and the market prospects are bright for a company that is consistently delivering energy efficiency cost effectively.”
Results for the three-month period ended March 31, 2015:
* Please see the reconciliation of non-GAAP financial measures and Regulation G disclosure later in this press release.
Reconciliation of Non-GAAP Financial Measures and Regulation G Disclosure
We report our financial results in accordance with generally accepted accounting principles (“GAAP”). However, we believe that certain non-GAAP financial measures that we use to manage the Company’s business fall within the meaning of Regulation G (Disclosure of Non-GAAP Financial Measures) by the Securities and Exchange Commission. We have included these non-GAAP measures, including certain measures that exclude the cost of the restatement and the related, ongoing lawsuits, and one-time costs related to the acquisition of EnerPath, in the press release because we believe they may provide readers with additional meaningful comparisons to prior reported results.
A reconciliation of the non-GAAP financial measures to the most directly comparable GAAP financial measure is as follows:
About Lime Energy Co.
Lime Energy is building a new energy future. As a leading national provider of energy efficiency for utilities’ small business customers, Lime designs and implements direct install programs for our utility clients which have consistently exceeded program savings goals. Our award-winning, integrated services programs provide utilities with reliable energy efficiency resources while delivering the highest levels of customer satisfaction. This next generation approach is helping utilities across the country to go deeper and broader with the cheapest, cleanest and fastest energy resource that we have – energy efficiency.
A full analysis of the results for the three-month period ended March 31, 2015, is available in the Company’s Form 10-Q, which will be made available on the Company’s website at www.lime-energy.com and on EDGAR.
Conference Call Information
The company will hold a conference call with investors on Monday, May 18, 2015, at 4:30 pm ET to discuss these results.
Investors can access the call by dialing toll free 1-866-543-6403 and entering passcode 22309312. International callers can dial 1-617-213-8896 and use the same passcode.
The live call can also be accessed through Lime Energy’s Investor Relations section of its website https://www.lime-energy.com/investors/.
The webcast is also being distributed through the Thomson Reuters StreetEvents Network. Institutional investors can access the call via Thomson Reuters’ StreetEvents (www.streetevents.com), a password-protected event management site. Individual investors can listen through LIME Energy’s Investor Relations section.
Lime Energy Investor Relations
This news release includes forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 including statements that reflect Lime Energy’s current expectations about its future results, performance, prospects and opportunities. Lime Energy has tried to identify these forward-looking statements by using words and phrases such as “may,” “expects,” “anticipates,” “believes,” “intends,” “estimates,” “plan,” “should,” “typical,” “preliminary,” “hope,” or similar expressions. These forward-looking statements are based on information currently available to Lime Energy and are subject to a number of risks, uncertainties and other factors that could cause Lime Energy’s actual results, performance, prospects or opportunities in the remainder of 2015 and beyond to differ materially from those expressed in, or implied by, these forward-looking statements. These risks and uncertainties are described in Lime Energy’s most recent Annual Report on Form 10-K or as may be described from time to time in Lime Energy’s subsequent SEC filings; such factors are incorporated herein by reference.