TUSTIN, CA--(Marketwired - Dec 2, 2013) - Premier Holding Corp. (OTCQB: PRHL), a diversified provider of energy services, is pleased to announce the filing of its Third Quarter, 2013, financial results for the quarter ending September 30, 2013.
Revenue from sales for the nine months ending increased to $1,437,746 from the $81,019 recorded in the comparable period in 2012. This growth in 2013 is primarily attributable to Premier's (1) strategic acquisitions, (2) product expansion, (3) business alliances, and (4) continually improving market conditions.
Operating expenses for the nine months ending September 30, 2013 increased to $4,934,351 from the $2,150,443 recorded in the comparable period in 2012. The increase in selling, general and administrative expenses can be attributed to increased operational expenses related to the acquisition of The Power Company USA, LLC and increased stock compensation expense of which a significant amount was non-cash stock compensation expense.
Highlights and Milestones from the beginning of the period to present include:
Randall Letcavage, CEO, applauds the TPC management team for our success in 2013. Letcavage stated that not only has TPC provided revenues and approximately 30,000 energy contracts to PRHL this year, but next year will be the catalyst of building out our Green products and solutions business in the E3 subsidiary.
In the previous nine months, Energy Efficiency Experts (E3) has laid the groundwork for expansive growth with the development of additional versions of the E-Series technology. E3 has also added strategic alliances with formidable sales channel partners such as Nor Cal Reps and Western Glass, which will have a positive impact on E3's market share. By partnering with additional LED and efficiency product suppliers, E3 is poised to grow its sales pipeline into a seven-figure revenue stream in an expeditious manner.
"Our Company has much to be excited about going into the last financial quarter of the year and 2014. At the same time that PRHL is successfully integrating acquisitions and organic expansion into cohesive and complementary marketing and sales operations, we are becoming more effective as an enterprise entering related verticals of the energy industry that align with our core strengths and our innovative approach," stated Premier Holding CEO, Randall M. Letcavage. "Energy efficiency is a very powerful and profitable industry in the USA; Premier is a growing force at the center of the industry with intentions to be a major brand for energy reduction."
From time to time, Premier Holding will provide market updates and news via its website www.prhlcorp.com.
About Premier Holding Corporation Premier Holding's mission is to lower its clients' energy costs and consumption while creating a positive impact on the environment. PRHL also intends to acquire clean technology products that can be seamlessly integrated with our existing product lines. Through our subsidiaries we offer renewable energy production, energy efficiency products and services to commercial middle-market companies, Fortune 500 brands, developers and management companies of large-scale residential developments. Additional integrated business offerings include direct energy services as power purchase agreements (PPAs), energy financing and leasing of generation programs in urban and rural real estate environments, lighting efficiency systems and refrigeration systems. For more information visit PRHL Investors Relations: www.prhlcorp.com.
About The Power Company (TPC) The Power Company USA, LLC is a professional energy services firm offering brokerage and consulting services with a progressive and unique perspective on energy management based in Chicago, Illinois. Their mission is to assist companies in reducing and managing their electricity expenses. Their diverse portfolio of energy providers, transparent pricing, and unparalleled industry experience offers customers the freedom of exploring all of their options for choosing the best plan and provider. Operating in all currently deregulated states, including Texas, New York and Illinois, TPC and its partners/suppliers have provided an invaluable service to its clients. Their team has consulted and/or serviced such prominent companies, organizations and governmental entities such as: The City of Dallas, Ralcorp, Choice Hotels, Apex Hospital Systems, Mercedes Dealerships, Leona's Restaurant Group, McDonald's, and many others. Because of the large amount of business transacted and their long-standing relationships with Regional Energy Suppliers, TPC is assured to provide the most competitive prices in the industry. For more information visit: www.thepowercompany.com
About Energy Efficiency Experts (E3) E3 is an Energy Services Company (ESCO) formed by PRHL to provide the best of breed solutions to its clients by utilizing proprietary technologies and high level industry relationships. By maintaining a "product agnostic" approach, E3's experts will prescribe the best solution for the unique circumstances of its clients after careful survey and analysis. Through its ever-growing acquisitions and alliances, E3 strives to provide the most current, and fully-vetted solutions in energy generation and energy reduction technologies, as well as management tools which capture the client for future opportunities. Recent acquisitions include Active ES Lighting Controls technology and The Power Company. Strategic alliances include Orion Energy Systems, Muni-Fed Energy, Nor Cal Reps, Western Glass and Restoration and Tinting, and Energy Innovation Enterprises. These alliances further advance E3's business strategy of providing only those technologies that have proven themselves in the field in both technical sophistication/reliability and financial justification. For more information visit: www.prhlcorp.com.
Cautionary Language Concerning Forward-Looking Statements This release contains "forward-looking statements" that include information relating to future events and future financial and operating performance. The words "may," "would," "will," "expect," "estimate," "can," "believe," "potential" and similar expressions and variations thereof are intended to identify forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which that performance or those results will be achieved. Forward-looking statements are based on information available at the time they are made and/or management's good faith belief as of that time with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Important factors that could cause these differences include, but are not limited to: fluctuations in demand for Premier Holding's products, the introduction of new products, PRHL's ability to maintain customer and strategic business relationships, the impact of competitive products and pricing, growth in targeted markets, the adequacy of PRHL's liquidity and financial strength to support its growth, and other information that may be detailed from time-to-time in Premier Holding's filings with the United States Securities and Exchange Commission. Examples of such forward-looking statements in this release include statements regarding future sales, costs and market acceptance of products as well as regulatory actions at the State or Federal level. For a more detailed description of the risk factors and uncertainties affecting Premier Holding Corp. please refer to PRHL's Securities and Exchange Commission filings, which are available at www.sec.gov. Premier Holding Corp. undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
