Able Energy, Inc., Reports Third Quarter Results.ROCKAWAY Rockaway, narrow peninsula, c.10 mi (16 km) long, SW Long Island, SE N.Y., in Queens borough of New York City. Separating Jamaica Bay from the Atlantic Ocean and isolated from the rest of New York City, the densely populated peninsula owes its growth to road and rail , N.J. -- Able Energy, Inc. announced its results for three-month period ending March 31, 2005. The Company reported record sales of $23.67 million for the quarter as compared to $16.65 million for the quarter ending March 31, 2004, an increase of 42.16%. The Company reported income from operations of $807,126 for the period, which resulted in net income per share of $.28.
SELECTED FINANCIAL DATA
Three Months Ended March 31st,
2005 2004
----------- ------------
Sales $23,668,771 $16,645,044
Gross Profit 2,745,538 2,837,892
Operating Income (Loss) 807,126 762,879
Net Income (Loss) 569,461 3,125,303
Less extra ordinary gain (1) -0- 2,688,490
Ordinary income 569,461 436,813
Ordinary income (Loss) Per Common Share .28 .22
EBITDA (2) 925,327 3,655,261
Consolidated Balance Sheet
--------------------------
Mar 31 Mar 31
2005 2004
----------- ------------
Cash $ 263,130 $1,166,560
Current Assets 6,267,566 6,679,344
Current Liabilities 5,149,281 4,918,508
Total Assets 12,662,791 13,594,630
Long Term Liabilities 3,647,962 3,822,700
Total Stockholder's Equity 3,683,613 4,853,422
(1) The net income for the three months ended March 31, 2004, includes
a gain on sale of the Company's subsidiary, Able Propane, LLC of $
2,688,490. Without the gain, the basic net income is $436,813 and
basic income new share is .22.
(2) Earnings Before Interest, Income Taxes, Depreciation, and
Amortization.
Commenting on these results, Christopher P. Westad, Able's President, stated, "Our sales increase over the same period last year represents our aggressive trend toward cornering a sizable measure of the marketplace. While sales dollars increased, we were able to decrease our expenses by 6.5%. We continue to realize the efforts of our margin management and our budget process. With the envelopment en·vel·op tr.v. en·vel·oped, en·vel·op·ing, en·vel·ops 1. To enclose or encase completely with or as if with a covering: "Accompanying the darkness, a stillness envelops the city" of our new operating systems Operating systems can be categorized by technology, ownership, licensing, working state, usage, and by many other characteristics. In practice, many of these groupings may overlap. , both operational and financial, along with our existing technology, we look forward to continued growth." Able is a holding company for five operating subsidiaries An operating subsidiary is a business term frequently used within the United States railroad industry. In the case of a railroad, it refers to a company that is a subsidiary but operates with its own identity and rolling stock. , which are engaged in the retail distribution of, and the provision of services relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc home heating oil, diesel fuel, kerosene kerosene or kerosine, colorless, thin mineral oil whose density is between 0.75 and 0.85 grams per cubic centimeter. A mixture of hydrocarbons, it is commonly obtained in the fractional distillation of petroleum as the portion boiling off , and in addition, Able provides complete HVAC (Heating Ventilation Air Conditioning) In the home or small office with a handful of computers, HVAC is more for human comfort than the machines. In large datacenters, a humidity-free room with a steady, cool temperature is essential for the trouble-free installation and repair. Able's common stock is traded on the Nasdaq SmallCap Market under the symbol "ABLE" and on the Boston Stock Exchange The Boston Stock Exchange (BSE) is a regional stock exchange located in Boston, Massachusetts. The third-oldest stock exchange in the United States, it was founded in 1834. On October 2nd, 2007 Nasdaq agreed to acquire BSE for $61 million. under the symbol "AEI AEI American Enterprise Institute AEI Archive of European Integration AEI Australian Education International AEI Automotive Engineering International AEI Australian Education Index AEI Albert Einstein Institute ". |
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