News Column

Acorn Energy Announces 2014 First Quarter Results

May 30, 2014

By a News Reporter-Staff News Editor at Energy Business Journal -- Acorn Energy, Inc. (NASDAQ: ACFN), an energy technology holding company, announced results for the first quarter ended March 31, 2014. Revenue was $4.5 million in the first quarter of 2014 compared to $5.7 million in the first quarter of 2013. The net loss in the first quarter of 2014 was $4.3 million, or $0.19 per share, compared to $5.0 million, or $0.28 per share in the first quarter of 2013.

John Moore, CEO of Acorn Energy stated, "While results for our businesses will fluctuate from quarter-to-quarter, we continue to implement our plans to increase sales at each of our businesses and reduce expenses at GridSense®, OmniMetrix™ and DSIT to the point where each of these businesses can (or in the case of DSIT continue to) be self-sustaining. Evidence of our progress is an increase in backlog to $18.7 million and a reduction in our losses and related overhead as compared to the first quarter of 2013. We are focusing our resources on completing the development of our new class of fiber optic geophones at US Seismic Systems® and improving its field readiness."

Keywords for this news article include: Acorn Energy.

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Source: Energy Business Journal

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