Juhl Energy, a provider of clean energy solutions and the community wind power, recently announced financial results for the first quarter ended March 31, 2015.
“The first quarter of 2015 represents a solid continuation of the steps we took in the last six months of 2014,” stated Dan Juhl, Chairman and CEO of Juhl Energy. “We wrapped up work on the Oak Tree wind farm, and began work on another large project we expect to co-develop in 2015 with a local developer and one of our leading utility partners.”
Dan Juhl added: “In addition, we negotiated terms to acquire another operational, 20-25 MW wind farm in the Midwest. This acquisition is consistent with those we made in 2014 and will add to our Juhl Renewable Asset Inc.’s residual revenue and cash flow. All in all, we feel we are on track for a very solid 2015.”
Financial highlights (3-month ended March 31, 2015):
- Total revenue increased by approximately $293,000, or 9.4%, from approximately $3,129,000 for the quarter ended March 31, 2014, to approximately $3,422,000 for the quarter ended March 31, 2015. The increase in revenue is primarily attributable to growth in engineering consulting services to the utility industry and increased solar installation revenue, together with the effects of growth in sales stemming from our acquisitions of two wind farms in 2014.
- Gross margins as a percentage of revenue for the quarter ended March 31, 2015 improved to 37% of revenue. Juhl has observed higher margins from engineering services, together with gross margin contributions from their solar business and higher electricity sales.
- Operating expenses across 2015 and 2014 were relatively constant as a percentage of our revenue. Juhl noted an 11% decrease in the selling general and administrative component as a result of cost controls.
Read the full release here.
Juhl Energy, Inc.