Premier Holding Announces Third Quarter Results
9 Month Revenue Increases $1,356,727 From Prior Year
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.
Contact: Investor Relations Contact: Green Arrow Consulting
(760) 698-9632 Connie
Absher Premier Holding Corporation (949) 260-8070