May 16, 2012
US Seismic Systems, Inc. Welcomes Noam Lotan as the Newest USSI Board Member » MoreMay 15, 2012
DSIT to Exhibit at the Undersea Defence Technologies Exhibition in Alicante, Spain, May 29 – 31. » MoreMay 14, 2012
Acorn Energy “The Digital Energy Company” Will Attend the Las Vegas Money Show & Present at the 6th Annual Barrington Research Industrial & Business Services Conference » MoreMay 10, 2012
Acorn Energy Announces First Quarter 2012 Results » MoreMay 08, 2012
Jim Andersen, President US Seismic Systems, an Acorn Energy Company to Testify before House Subcommittee on Energy and the Environment, May 10, 2012 » MoreMay 07, 2012
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Acorn Energy to Host 2012 First Quarter Conference Call on Friday, May 11, 2012 at 11:00 am EDT » MoreApril 26, 2012
Acorn Energy to Host an Investor Day on Wednesday, May 9, 2012 » MoreApril 23, 2012
Acorn Energy Inc. Announces Quarterly Dividend » MorePress Release
05.21.08
Acorn Energy, Inc. Announces First Quarter Results
Montchanin, Delaware– May 21, 2008 -- ACORN ENERGY, INC. (NASDAQ: ACFN) today announced that it has filed with the Securities Exchange Commission its quarterly report on Form 10-Q for the quarter ended March 31, 2008. The results for the first quarter of 2008 include the operations of SCR-Tech which was acquired in November 2007.Operating Highlights:
- Sales in the first quarter of 2008 increased by $3.3 million or 313% from $1.0 million in the first quarter of 2007 to $4.3 million in the first quarter of 2008. The increase in sales was attributable to the inclusion in 2008 of $2.3 million of SCR-Tech sales and an increase in DSIT sales of 97% or $1.0 million. The increase in DSIT sales was wholly attributable to two naval projects which began in the third quarter of 2007.
- Gross profit in the first quarter of 2008 increased by $1.1 million or 391% as compared to the first quarter of 2007, reflecting the inclusion of SCR-Tech’s gross profit in 2008 and an increase in DSIT gross profits of 128%. Gross profit margin also increased from 27% in the first quarter of 2007 to 33% in the first quarter of 2008, reflecting SCR-Tech’s gross margin of 34% as well as DSIT’s improved gross margin of 31%.
The Form 10-Q filed on May 20, 2008 provides full disclosure and an analysis of the results of operations for the period.
About Acorn Energy, Inc.
Acorn Energy is a publicly traded holding company focused on improving the efficiency of the energy grid and reducing the environmental impact of the energy sector. Acorn Energy’s operating companies leverage advanced technologies to transform the existing energy infrastructure. Acorn’s strategy is to take primarily controlling positions in companies led by great entrepreneurs and add value by supporting those companies with marketing, strategy, and business development. Acorn Energy is a global company with equity interests in Comverge, CoaLogix, DSIT, Gridsense, Local Power and Paketeria. For more information visit www.acornenergyinc.com.