DESC to report after the bell today with a conf call tomorrow.
Been aggressively buying more last week and this week. Plan worked on SGTL. Obviously, some short covering going on today, but the volume is on the low side - not many sellers out there - knock on wood. Trying to go two-for-two so to speak, but this one should have even more longer term upside. Don't wanna jinx it - been there, don't that.
Distributed Energy Systems Schedules Conference Call to Discuss Second Quarter Results
Tuesday July 18, 9:00 am ET
WALLINGFORD, Conn., July 18 /PRNewswire-FirstCall/ -- Distributed Energy Systems Corp. (Nasdaq: DESC - News) announced that it will release its second quarter results for the period ended June 30, 2006, after the market closes on Wednesday, August 2nd, 2006. The company will hold its investor conference call the next morning, on Thursday, August 3rd, at 11:00 a.m. Eastern Daylight Time.
Individuals wishing to participate in the conference call should dial (866) 713-8562, or for international calls (617) 597-5310. The call will also be broadcast live over the Internet and can be accessed by interested parties at vcall.com or through the investors' section of the Distributed Energy Systems website at distributed-energy.com.
Responding To Message #249 from Rutgers at 6/6/2006 9:30:53 AM
DESC Update: CEO to Report Strengthening Order Flow at Annual Shareholders' Meeting Today
biz.yahoo.com
Tuesday June 6, 9:09 am ET
WALLINGFORD, Conn., June 6 /PRNewswire-FirstCall/ -- The chief executive officer of Distributed Energy Systems Corp. (Nasdaq: DESC - News) will tell shareholders today that the company's order backlog continued to strengthen, and he will reaffirm that 2006 is shaping up to be another year of growth and record revenues.
In remarks to be delivered at Distributed Energy's annual meeting in Windsor, CT, later this morning, Ambrose L. Schwallie will announce that the alternative energy company's backlog has grown an additional 10% to almost $33 million, in less than a month. Backlog stood at just under $30 million as of May 9th, when the company reported its 2006 first quarter results.
He will also report that the backlog's growth is up more than 30% from $25 million in early March, and does not yet include additional project commitments where, in Mr. Schwallie's words, "we have received the green light from major companies and await only final paperwork to formally book those commitments as backlog."
Mr. Schwallie will also point out at the shareholders' meeting that, after a slow start during the early part of the year, "the delayed order flow is beginning to catch up as we move toward the second half of 2006. We believe our backlog and new customer commitments will enable us to make up for the shortfalls in the first and second quarters -- and then some -- to achieve another record revenue year."
Distributed Energy accounts for its order backlog as the total of only contractually committed work to be performed during the next 12 months. The current figure includes increased orders for Northern Power's energy systems and services and Proton's commercial hydrogen systems, as well as advanced hydrogen technology back-up power and transportation fueling projects, some of which are funded by government and foundation grants.
The full text of Mr. Schwallie's remarks at the annual meeting is expected to be posted by 12 noon (EDT) on Tuesday, June 6th, at the following Web address: distributed-energy.com
Responding To Message #244 from Rutgers at 5/17/2006 7:30:55 PM
DESC Update ==> important PR
DESC Completes Stock Sales Under Equity Shelf Program
[Only one reason I can think of why the Company would terminate sales under a shelf plan - the price is just too low. This is HUGE news, imo. In other words, mgt is not going to give the shares away. I look for a strong rebound in the weeks ahead.]
Here is the key portion of the PR dated Wednesday May 17, 4:56 pm ET
biz.yahoo.com
WALLINGFORD, Conn., May 17 /PRNewswire-FirstCall/ -- Distributed Energy Systems Corp. (Nasdaq: DESC - News) announced today that it has ended the sale of shares of its common stock under its previously disclosed equity distribution agreement with UBS Securities LLC.
Through the program, which was initiated in April 2006, the company authorized the sale of shares from time to time on the open market. Stock sales under the program began on April 12th, with aggregate sales to date of 1,171,297 shares, resulting in net proceeds to Distributed Energy of $7,485,648.
Responding To Message #239 from Rutgers at 5/10/2006 4:59:52 PM
DESC Trade Update and Q4 Release
They reported after the bell last night. [Note that they reported at 4:30 PM instead of at 5:00 PM for their Q4 release]. Since I was guessing that the Street might sell it off for the wrong reasons, I decided to wait to see the PR. Sure enough, it sold off in AH last night. Then, interestingly, DESC issues a new PR about a project first thing this morning. I viewed that PR as DESC's reply to the Street's response, which I took as a positive. Interestingly, the stock initially reacted positively, but then it sold off further this morning. So, I waited for the conference call. As I expected, it was very positive. So, I added more shares near today's low. As an aside, I also covered half of the QQQQ short today.
Here is a link to the two PRs today:
Gulf of Mexico Oil Drilling Platforms to Use Remote Power Systems
Wednesday May 10, 9:00 am ET
IECESA Awards Northern Power $2.7M PEMEX Contract
biz.yahoo.com
and
Distributed Energy Reports Lower 1st Quarter Results as Previously ForecastDistributed Energy Reports Lower 1st Quarter Results as Previously Forecast
Tuesday May 9, 4:30 pm ET
Investor Conference Call Tomorrow, Wednesday, May 10th, at 11:00AM (Eastern)
biz.yahoo.com
WALLINGFORD, Conn., May 9 /PRNewswire-FirstCall/ -- Distributed Energy Systems Corp. (Nasdaq: DESC - News) today reported revenues of $7.6 million for the first three months of 2006. The first quarter revenues declined from $9.5 million in the same quarter last year primarily because of previously announced timing delays of new orders in the engineering, procurement and construction (EPC) business.
For the three months ended March 31, 2006, the company's net loss was $7.3 million, or $0.20 per share, including approximately $0.06 per share attributable to required compliance with the Statement of Financial Accounting Standard 123 (revised 2004), "share-based payment" or SFAS123® and other non-cash stock compensation charges. Distributed Energy's net loss for the first quarter of 2005 was $4.7 million, or $0.13 per share. Because the company adopted SFAS123® in the first quarter 2006, historical net losses do not include the fair value stock compensation charge for employees.
The company said that its order backlog is improving as expected and now stands at $29 million, and that second quarter revenues are expected to be only moderately lower than the same period in 2005. The company said that the pace of orders at its Northern Power entity for the first and second quarters of 2006 reflects the effect of last year's spike in the price of natural gas, which is used as a fuel in many of Northern Power's projects. Distributed Energy serves the energy marketplace by giving users greater control over the cost, quality, and reliability of electric power.
2006 1st Quarter Results:
Most of Distributed Energy's first-quarter revenues came from its EPC business, largely from oil and gas, on-site and distributed generation power installations for commercial and industrial applications. In addition, sales of the company's on-site HOGEN® hydrogen-generating equipment, now mostly being handled through established national and international industrial gas distribution channels, improved moderately over the prior year. The Proton Energy unit develops, manufactures and sells these advanced electrolysis- technology-based systems for making ultra-pure hydrogen for electricity generation for utilities, heat treating, semi-conductor manufacturing, and fuel cell transportation fuel.
Distributed Energy's gross margins were positive during the first quarter of 2006, the sixth consecutive quarter of positive margins. Cash and marketable securities as of March 31, 2006, totaled $33.7 million, compared with $40.7 million as of December 31, 2005. The decrease of approximately $7.0 million during the first quarter of this year, compared with $9.4 million a year ago, reflects the quarterly net loss and working capital requirements. Working capital is defined as current assets minus current liabilities excluding cash and marketable securities.
Performance and Outlook
"The results of the first quarter and the outlook for the current quarter remain in line with previous estimates that we communicated in March," said Ambrose L. Schwallie, who was appointed Distributed Energy's chief executive officer earlier this year. "Our expected slow start this year is disappointing, even though we have emphasized the inevitable lumpiness of our EPC business, the largest part of our company's revenue mix."
"However, during the past two or three months, we have seen more normal market conditions. The value propositions for all of our products and services are more compelling than ever. Our business is ultimately driven by end user concerns over energy cost and availability, concerns that we expect will continue for quite some time." Mr. Schwallie noted. "The attractiveness of our products and services to our growing customer base for EPC solutions and on-site hydrogen production stems from the strong business case they make to customers. In addition, we see encouraging progress in our advanced fuel cell oriented technology, as increasing public attention is being paid to finding better long-term ways to meet the nation's energy needs."
"For all these reasons, our present-day commercial business is getting stronger. We see sufficient strength in second half revenues for me to reiterate that 2006 should be another growth year for Distributed Energy." Mr. Schwallie stated, "We are pleased with the level of excitement within the company, and among our shareholders and others who understand and believe in our longer-term opportunities."
1st Quarter Highlights:
Distributed Energy Systems noted several developments during the first quarter and since the regular March 8th investor conference call, including:
* A $3.4 million contract with AEGON USA Realty Advisors, a unit of
Netherlands-based Aegon NV under which the Transamerica
building in downtown San Francisco will be equipped with a self-
contained combined heat and power system to provide base load
electricity to this landmark tower.
* Proton's first StableFlow Hydrogen Control System was installed at a
Mirant power plant in Maryland, to monitor and control the pressure, dew
point and purity of the hydrogen that "cools" the plant's electricity
generating equipment.
* A contract award with Pathmark Stores, Inc. to provide
turnkey photovoltaic solar power systems for three large retail outlets
in New Jersey.
* An agreement with Elliott Energy to develop and distribute microturbine-
based products for the oil & gas markets.
* Four additional hydrogen fueling systems were installed in New Mexico
and California, bringing to seven the number of installed demonstration
projects this year.
* The acquisition of the engineering, procurement, construction,
operations and maintenance business from Crown Engineering, enabling the
company to further increase its penetration of California distributed
generation market.
* Commissioned back-up power systems that use high pressure hydrogen
generation technology at the Mohegan Sun complex in Connecticut, a
utility sub-station of Wallingford Electric and for a major
telecommunications installation in Connecticut.
Conference Call
The Company will host a conference call tomorrow, Wednesday, May 10, 2006 at 11:00 a.m. EDT to discuss first quarter results and other matters of interest to investors and shareholders. Individuals wishing to participate in the conference call should dial (866) 700-7101 or for international calls (617) 213-8837. For interested individuals unable to join the call, a replay will be available through Wednesday, May 24, 2006, by dialing (888) 286-8010 or for international calls (617) 801-6888, pass code 74476592, or on the company's Web site. The call will also be broadcast live over the Internet, and can be accessed by all interested parties at www.vcall.com or through the investors' section of the Distributed Energy Systems website at www.distributed-energy.com
Responding To Message #198 from Rutgers at 3/7/2006 6:37:20 PM
DESC Trade Update and Q4 Release (set forth below)...
Added a little more today around $9.32. Then sold some in AH at ~$8.62. Obviously, this news was a surprise to me - good thing I decided to be more conservative and did not purchase calls. While the conf call tomorrow is key, but I still do not like the lack of hogen orders...anyway, here is the Q4 Release
Distributed Energy Reduced 4th Quarter Net Loss; 2005 Revenues a Record $45 Million; Expects Lower 1st Half of 2006
biz.yahoo.com
Tuesday March 7, 5:00 pm ET
Investor Conference Call Tomorrow, Wednesday, March 8th, at 11:00AM (Eastern)
WALLINGFORD, Conn., March 7 /PRNewswire-FirstCall/ -- Distributed Energy Systems Corp. (Nasdaq: DESC - News) today reported revenues of $11.0 million, and a net loss of $3.4 million, or $0.09 per share, for the fourth quarter ended December 31, 2005. During the same period of 2004, revenues were $11.4 million, and the net loss was $4.0 million, or $0.11 per share.
For the full 2005 year, Distributed Energy doubled revenues to a record $45.0 million, up from $22.5 million during the prior year. The company's 2005 net loss was $16.2 million, or $0.45 per share, reflecting an approximately 28% improvement over the prior year's net loss of $22.4 million, or $0.63 per share.
The company also said that its order backlog now stands at $25 million, but it expects revenues during the first half of the year to be lower than during the first six months of 2005. Distributed Energy now estimates that first-quarter revenues will be off approximately 25% compared with last year's first quarter, and second-quarter revenues are also expected to be lower, although to a lesser extent, than the second quarter of 2005. It attributed its reduced first-half expectations primarily to the timing of orders and the lagging effects of an unpredictable spike in the price of natural gas affecting its Northern Power Systems' energy services business.
Regarding the net loss anticipated for the first quarter of 2006, the company said it expects the figure to be about the same as a year ago, before giving effect to the new Statement of Financial Accounting Standard 123® requirement and other non-cash stock compensation charges that will be reflected in the first quarter of 2006. Distributed Energy estimates that this additional charge for the first quarter will be approximately $.07 per share.
2005's 4th Quarter Results
Distributed Energy said that fourth-quarter and full-year results during 2005 primarily reflected strong performance in the engineering, procurement and construction energy services business, with revenue growth largely coming from on-site and distributed generation power installations for building and industrial applications. In addition, the company said sales of its on-site HOGEN® hydrogen-generating equipment, now largely being handled through new industrial gas distribution channels, improved over the prior year. However, the pace of new orders was sluggish at year-end, and that condition is persisting in 2006. The company said that it is actively addressing the situation with its industrial gas distribution partners to better channel its hydrogen systems in parallel with their traditional approach to the industrial gas market.
Gross margins were positive during the fourth quarter of 2005, for the fifth consecutive quarter. In addition, cash and marketable securities as of December 31, 2005, stood at $40.7 million compared with $42.7 million as of September 30, 2005. The change of approximately $2.0 million primarily reflects the net loss for the quarter, offset in part by improvements in working capital requirements (defined as current assets minus current liabilities excluding cash and marketable securities).
Performance and Outlook
"The company clearly made a great deal of progress during 2005," said Ambrose L. Schwallie, who was appointed Distributed Energy's chief executive officer earlier this year. "That's because our businesses are well-positioned participants in high-potential energy markets, and our people have the demonstrated ability to satisfy our customers and enable us to achieve sustained growth over time."
"After outperforming expectations during most of 2005" he continued, "we got off to a slow start in 2006. This early shortfall mostly reflects the periodic lumpiness in our business and slower energy services orders resulting from a less-favorable "spark spread" -- the short-term differences in the cost of power when measured against the spot-market price of the natural gas used to produce electricity." Mr. Schwallie noted that the price spike has already self-adjusted, leading to what he termed "more normal market conditions."
"As a result," Mr. Schwallie stated, "it is important to note that we do not see any long-term deterioration in likely new project commitments from customers. Our solid beginning backlog of business provides us with a good base, and we expect to be adding to revenues as the year progresses, especially in the second half."
Mr. Schwallie concluded: "Putting it simply -- and now that I have had some time to see this company up close after coming on board less than two months ago -- our current activities and Distributed Energy's future are at least as exciting and promising to me now as they were when I first came on board. Our outlook for 2006 is to continue to grow, as our businesses are sound and heading in the right direction."
Other 4th Quarter Highlights:
Distributed Energy Systems noted several developments during the fourth quarter and since the regular November 7th investor conference call, including:
- Proton Energy received its third consecutive award from the University
of Nevada Las Vegas Research Foundation to continue its groundbreaking
work on hydrogen fueling stations for automobiles and other motor
vehicles.
- Northern Power began implementing its new long-term agreement to provide
operational and maintenance services to 11 DTE Energy Technologies
sites.
- Initial shipments of Proton Energy's large HOGEN H on-site hydrogen-
producing systems to "cool" power plant generators began to result from
setting up sales channels though established gas distribution companies.
- The company moved Northern's engineering and production people and
facilities to its newly purchased 110,000-sq-ft manufacturing location
in Barre, VT.
Conference Call
The Company will host a conference call tomorrow, Wednesday, March 8, 2006 at 11:00 a.m. EST to discuss fourth quarter results and other matters of interest to investors and shareholders. Individuals wishing to participate in the conference call should dial (866) 713-8566 or for international calls (617) 597-5325. For interested individuals unable to join the call or Web cast, a replay will be available through Wednesday, March 21, 2006, by dialing (888) 286-8010 or for international calls (617) 801-6888, pass code 14110887, or on the company's Web site. The call will also be broadcast live over the Internet, and can be accessed by all interested parties at www.vcall.com or through the investors' section of the Distributed Energy Systems website at www.distributed-energy.com
Responding To Message #195 from Rutgers at 3/6/2006 6:11:43 PM
DESC Trade Update and new article ==> with the Q4 set for release after the bell tomorrow (and with the conf call set for Wed morning instead of tomorrow night), I decided to follow my strong instincts (see prior posts over the last week or so) and actually purchased a nice new chunk today at around ~$9.60 (a price which is ~ $7.00 more than I paid a looong time ago for the same shares...note to self: in the really old days, I probably would have purchased calls...so, since I am getting older and clearly more conservative, if I am dead wrong on this and, if you look closely at last year's trades - almost everytime I played an earnings play - it did not turn out well for me and thus the odds are clearly against me but...at least, here, worst case is that I can sell the shares back at a partial loss istead of a total loss - but I feel strongly that the risk factor is heavily in my favor, see the Kelly Formula from W. Poundstone's Fortune's Formula)
Here's the new article. As you can see, it is from our ol' buddy Jim Cramer from the March 13th issue of New York Magazine sub-titled "Solar-power and other alternative-energy stocks suddenly appear to have a bright future."
Here's the link to the full article: newyorkmetro.com
...Windmill power, long about as rational as Don Quixote, has, at last, become not only viable but also profitable, as one look at the General Electric Website—recently fronted with windmills—attests. But buying GE for windmills is like buying it for dishwashers; forget it—wind isn’t a big enough business to drive GE. Instead, there’s Distributed Energy Systems. Here’s another company with a mosaic of energy alternatives, the fastest growing of which is wind. Distributed also has its bases covered with solar, biogas, and hydrogen businesses. It’s the hydrogen technology that fascinates me. Most alt-energy companies haven’t made revolutionary leaps, but Distributed can put a machine on-site that can split water into hydrogen and oxygen, then make power out of the hydrogen through fuel cells. That makes Distributed a reliable backup plan for companies that fear Katrina-like grid breakdowns. The company won’t make money until next year, but it sells for less than $10, so you aren’t paying up for its lack of profits.
Responding To Message #194 from Rutgers at 3/4/2006 12:39:45 PM
DESC Update ==> Alternative-Energy Stocks Shine As High Oil Costs Here To Stay
investors.com
Distributed Energy Systems (DESC) makes hydrogen generators and power systems for oil rigs and other remote sites that need on-site power but can't rely on the electric grid.
"That's an example of a market that is thriving today," said Tanous. Tanous is managing director at Merriman Curhan Ford & Co., a San Francisco-based institutional research and investment banking firm.
Let's see how this plays out this week - I gotta strong feeling that the CEO has been sitting on news. I think a move to $12 may happen this week. Stay tuned.
Responding To Message #189 from Rutgers at 3/2/2006 4:31:19 PM
DESC Update: stock looks strong as we head into next week's conference call. One interesting point is that they previously mentioned expecting to have the conf call this week. Then it was moved to next week - where the release will be Tuesday night, but the call will not be until Wed mid-morning. It sure seems to me that they want to give the Street as much time as possible to digest the news before the new CEO chats with them. If they d/n have great news, then I d/n understand why they would time it like that...
With oil still over $60, gotta believe that demand for A/E is still white-hot and should continue as we head into the warmer weather.
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