Prenova Continues Impressive Growth
Prenova, Inc., a privately held energy services provider managing over $2 billion in energy spend for dozens of leading companies, today announced results for its fiscal third quarter, ended September 30th, 2009. Following on the heels of last quarter's record results, the company again recorded the highest quarterly sales in its history, delivering quarter-over-quarter recurring revenue growth for the thirteenth consecutive quarter.
Atlanta, GA (PRWEB) November 4, 2009 -- Prenova, Inc., a privately held energy services provider managing over $2 billion in energy spend for dozens of leading brands, today announced results for its fiscal third quarter, ended September 30th, 2009. Following on the heels of last quarter's record sales, the company again recorded the highest quarterly sales in its history, delivering quarter-over-quarter recurring revenue growth for the thirteenth consecutive quarter. Revenue for Q3 2009 was up 50% versus the same period in 2008. Prenova also delivered record earnings for the quarter.
"Challenging economic conditions and uncertainty about pending legislation are driving more-and-more organizations to look for opportunities to reduce energy costs and improve energy efficiency," said Michael J. Nark, Prenova's President and Chief Executive Officer. "Given the breadth of Prenova's services, which cover the full range of energy challenges, we are in a position to deliver outstanding value to our customers. Whether they want to ensure utility bills are accurate, improve the energy efficiency of their facilities, or need assistance in finding lower energy rates, we can support them."
Additional highlights:
| | - Monthly recurring revenue and backlog are at all time highs
- Quarterly revenue has more than doubled over the last two years
- Generated customer savings in excess of $25 million during third-quarter 2009
- Actively controlling over 3.5B kWh in annual consumption
- Managing over $100 million of energy spend each month
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Prenova's suite of services includes Utility Management, Energy Procurement, Remote Monitoring, Energy Consulting, and Energy Efficiency Reporting.
About Prenova
Prenova helps companies control energy spend by reducing utility costs and improving energy efficiency. We work hand-in-hand with our customers to develop an energy strategy that fits their unique business needs. Then we help them implement this strategy consistently across the organization by providing services that span the entire energy lifecycle. From sourcing energy to controlling energy consumption, Prenova's solutions can reduce energy spend by 10-20%. That's why companies like Burger King, Costco, Dollar Tree, Dress Barn, and Home Depot turn to Prenova.
For more information, please visit www.prenova.com.
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