Comverge Inc. (COMV) Posts Q4 Results, Recognizes Significant Achievements
Comverge Inc., the leading provider of Intelligent Energy Management (IEM) solutions, yesterday announced fourth quarter and full year 2010 financial and operating results, highlighting record annual revenues, increased megawatts and new contracts. Fourth-quarter revenues for 2010 decreased 9 percent to $37.2 million compared to $40.8 million in the fourth quarter of 2009. Full-year revenues were $119.4 million in 2010 compared to $98.8 million in 2009, reflecting a 21 percent increase. Gross margin for the fourth quarter of 2010 was 50 percent compared to 33 percent in the fourth quarter of 2009, reflecting improved margins in the company’s VPC contracts. Gross…