in News Departments > FYI
print the content item

Citing fluctuations in its wind farm development business, Pipestone, Minn.-based Juhl Energy leveraged sales from the Power Engineers Collaborative (PEC) acquisition - as well as maintenance services - to higher quarterly sales and a slightly improved bottom line.

According to Juhl's quarterly filing, the company has sought to establish a diversified revenue stream to "offset or minimize" the fluctuations in its wind farm development and construction operating businesses.

Total revenue increased 56.3% to approximately $2.9 million for the quarter ended June 30, compared to approximately $1.9 million for the same period last year. The increases in revenue are attributable to its acquisition of PEC, which provides engineering services to clients in the energy, industry and building systems markets, and an expansion into maintenance services to the cellular tower industry. 

The company's net loss improved slightly to $917,000 for the quarter ended June 30, compared to a $1.1 million net loss last year.

"Our first half results are the first that demonstrate the impact of wrapping our development business with a strong foundation of recurring revenue and cash flow that comes from energy asset ownership and operation in our Juhl Renewable Assets subsidiary," explains John Mitola, president. "In addition, the expansion of our advisory business with our acquisition of PEC underscores the strength of our strategy to become a more diversified clean energy company."


Advertisement

Trachte_id2056
Latest Top Stories

Slow Turning: What's Stopping Individual Blade Pitch Control From Wider Acceptance?

Advances have made it feasible for wind turbine blades to adjust individually. However, other factors are preventing the technology's widespread use.


Deepwater Hits Financial Close For Block Island Wind Farm, Expects Summer Construction

The Providence, R.I.-based offshore wind developer becomes the first to financially close on a U.S.-based offshore wind project.


More Investors Entering Tax Equity Market; Returns Holding Steady

The entry of new tax equity investors to the wind space last year re-ignited an old debate.


Report: Top 10 Turbine OEMs Had Record Year In 2014

Preliminary findings suggest Vestas reigned supreme again among the world's leading wind turbine makers. How did some of the other OEMs fare?


AWEA's Gramlich To FERC: Additional Transmission Needed Regardless Of Clean Power Plan

To further build a more balanced and reliable electricity portfolio, the U.S. needs to build more transmission capacity.

Hybrid Energy Innovations 2015