Market Overview

Acorn Energy Provides Corporate Update


Acorn Energy (NASDAQ: ACFN), a holding company focused on making energy better by providing digital solutions for energy infrastructure asset management, today issued a corporate update which includes an outlook for 2012.

John Moore, CEO of Acorn Energy stated, "We remain highly enthusiastic regarding the progress that each of our portfolio companies continues to make and we expect a record 2012 from each. Furthermore, the recent acquisition of OmniMetrix, LLC, a leading developer and producer of remote monitoring equipment and systems for emergency power generators and underground pipelines, expands our portfolio further into the emerging world of digital energy infrastructure. OmniMetrix is a profitable and growing enterprise. By investing relatively modest sums to further build its leadership position in on-site power generation monitoring and pipeline safety, we believe we can make a significant impact on stockholder value."

"We have proven our thesis of capital light, energy technology investing with our successful exits from CoaLogix (sold for $101M in August 2011), and Comverge {ticker: COMV} (ACFN exited a majority of its interest at a $600M valuation in the Goldman Sachs secondary offering in December 2007)." Mr. Moore remarked, "We are tremendously excited about our current portfolio of companies. Our pipeline of business opportunities is large and growing. We feel confident in our ability to grow Acorn's revenues substantially in the coming years."

2012 Outlook - DSIT:

Record revenues New customer acquisition AquaShield™ product line extensions Collaboration with US Seismic for harbor- and land-based security offerings 2012 Outlook - GridSense:

Expansion of Transformer IQ™ major deployments New field applications of the Transformer IQ™ New software and hardware product platform introductions

– Overview and 2012 Outlook - OmniMetrix:

$3.0 million in revenues in 2011, up from $1.7 million in 2010 based on unaudited financial statements $0.8 million pre-tax Income in 2011

$8.5 million purchase price. Net of cash, receivables and payables (expected to be approximately $1.0 million) this represents a 2.5 multiple of sales

Immediately accretive

Subscription business model with a strong base of recurring revenue Will continue to build upon key partnerships within multi-billion dollar generator industry Expand penetration of prestigious reference pipeline customers

Posted-In: News Guidance


Related Articles (ACFN)

View Comments and Join the Discussion!