Onsite Energy Corp. (OTCBB:ONSE), a comprehensive energy service company with primary emphasis in California, assists its customers in reducing electricity and fuel costs by developing, designing, constructing, owning and operating efficient, environmentally sound energy projects. The Company announced
financial results for its second fiscal quarter and six months ended Dec. 31, 2000, showing its second consecutive quarter of profitability.
Richard T. Sperberg, president and CEO of Onsite stated: "The results from our second quarter and six months ended Dec. 31, 2000 continue to confirm our strategy to return to our focus on California markets. The energy crisis in California has cause many customers to examine their options to reduce current and future energy costs, and that has resulted in many project development opportunities for Onsite."
Revenues for the three-month period ended Dec. 31, 2000 were $3,525,689, an increase of 14.9 percent compared to the same period in 1999. Net income for the three months ended Dec. 31, 2000 was $924,958, or $0.04 per share, after inclusion of an extraordinary gain of $444,577 for the settlement of certain liabilities, compared to a net loss of $0.06 per share for the year-ago period.
Net income for the six months ended Dec. 31, 2000 was $0.07 per share, after inclusion of an extraordinary gain, compared to a loss of $0.09 for the six months ended Dec. 31, 1999. Shares of ONSE popped 89 percent on the news, to $0.18, and should continue to benefit as the company shows more positive
earnings growth. |
