Able Energy Reports Its Three Months Results for the Quarter Ended September 30, 2005.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. ("Able") announced its results for three-months ending September 30, 2005. The Company reported record sales of $13.1 million for the quarter ending September 30, 2005 as compared to $8.2 million for the same quarter in 2004, an increase of 59.8%.
SELECTED FINANCIAL DATA
Three Months Ended Sept. 30,
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2005 2004
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Net sales $13,131,413 $8,221,845
Balance Sheet Data
Cash 4,668,493 1,754,318
Current Assets 12,267,741 6,230,307
Current Liabilities 9,834,916 6,550,350
Total Assets 18,959,068 12,754,560
Long-Term Liabilities 6,561,535 4,146,095
Total Stockholders' Equity 2,562,617 2,058,115
Commenting on these results, Gregory Frost Gregory Frost (born 1951) is an American author of science fiction and fantasy, and directs a fiction writing workshop at Swarthmore College in Swarthmore, Pennsylvania. He received his Bachelor's degree from the University of Iowa. , Able's Chief Executive Officer, stated, "We are pleased with the continued improvement in our sale and the revenue generated from this increase in sales. The strength in our sales has continued to improve our balance sheet. However, due to the seasonal nature of our business our first quarter is traditionally slow and we sustained a loss during the period of $1,063,499 million or $(0.47) per share compared to a net loss of approximately $872,899 million or $(0.43) per share a year ago." Frost concluded, "We continue to be especially excited about our potential acquisition of the Kentucky based Somerset Oil and Refinery as well as the introduction of the sale of bio-diesel blended home heating oil. We also anticipate acquisitions, which will significantly grow our core business this year." Able is a holding company for five operating subsidiaries, 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 ". This announcement includes forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. based on current expectations. Actual results may differ materially. These forward-looking statements involve a number of risks and uncertainties including, but not limited to, the closing of future financing rounds, the possibility of continuing operating losses operating loss The excess of operating expenses over revenue. As with operating income, operating losses exclude revenues and expenses from operations that are not considered a regular part of the business. Also called deficit. Compare operating income. , the ability to adapt to rapid technological change, the receipt and fulfillment of new orders for current products, the timely introduction and market acceptance of new products and the ability to establish and maintain strategic partner relationships. |
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