Juhl Energy, Inc. Announces First Quarter 2015 Financial Results

PIPESTONE, Minn., May 14, 2015 /PRNewswire/ -- Juhl Energy, Inc. (OTCQB: JUHL, the "Company"), a leading provider of Clean Energy Solutions and the Leader in Community Wind Power, today announced financial results for the first quarter ended March 31, 2015.

"The first quarter of 2015 represents a solid continuation of the steps we took in the last six months of 2014," stated Dan Juhl, Chairman and CEO of Juhl Energy, Inc.  "We wrapped up work on the Oak Tree wind farm, and began work on another large project we expect to co-develop in 2015 with a local developer and one of our leading utility partners.  In addition, we negotiated terms to acquire another operational, 20-25 MW wind farm in the Midwest.  This acquisition is consistent with those we made in 2014 and will add to our Juhl Renewable Asset Inc.'s residual revenue and cash flow.  All in all, we feel we are on track for a very solid 2015."

Financial Highlights for the Three Month Period Ended March 31, 2015:

• Total revenue increased by approximately $293,000, or 9.4%, from approximately $3,129,000 for the quarter ended March 31, 2014, to approximately $3,422,000 for the quarter ended March 31, 2015. The increase in revenue is primarily attributable to growth in engineering consulting services to the utility industry and increased solar installation revenue, together with the effects of growth in sales stemming from our acquisitions of two wind farms in 2014.
  
• Gross margins as a percentage of revenue for the quarter ended March 31, 2015 improved to 37% of revenue.  We have observed higher margins from engineering services, together with gross margin contributions from our solar business and higher electricity sales.
  
• Operating expenses across 2015 and 2014 were relatively constant as a percentage of our revenue.  We note an 11% decrease in the selling general and administrative component as a result of cost controls.
  
• Operating loss decreased approximately $177,000, from an operating loss of $520,000 for the quarter ended March 31, 2014 to an operating loss of approximately $343,000 for the quarter ended March 31, 2015.  The decrease in loss is primarily attributable to higher gross margins that are occurring from each of our business units.
  
• Net loss decreased by approximately $766,000 from a net loss of approximately $1,311,000 for the quarter ended March 31, 2014 to a net loss of approximately $545,000 for the quarter ended March 31, 2015. The decrease in net loss which is primarily attributable to the reasons described in the change in our Operating Loss, together with a reduction in losses incurred by the now defunct tower services subsidiary.
  
• Adjusted EBITDA increased by nearly $200,000 from approximately $54,000 for the quarter ended March 31, 2014 to approximately $251,000 for the quarter ended March 31, 2015.  Adjusted EBITDA is a non-GAAP financial measure and as used herein represents net income before interest expense, depreciation and amortization, and other charges including unrealized gain/loss on an interest rate swap arrangement, revenue levelization accounting on power purchase contracts, stock compensation expense, asset impairment charges, and discontinued operations.
  
• Basic and diluted net loss per share of ($0.02) per common share for the quarter ended March 31, 2014 compares to the ($0.04) net loss per common share for quarter ended March 31, 2015.

A full analysis of results for the quarter ended March 31, 2015 is available in the Company's Form 10-Q, which is available on the Company's website at www.juhlenergy.com or through the Securities and Exchange Commission's Edgar database at www.sec.gov.

ABOUT JUHL ENERGY, INC.

Juhl Energy is an established leader in the renewable energy industry with a focus on competitive, clean energy solutions and community-based wind power development, ownership and management throughout the United States and Canada.  Juhl Energy pioneered community-based wind farms, developing the currently accepted financial, operational and legal structure providing local ownership of medium-to-large scale wind farms in rural America.  To date, the Company has completed 24 wind farm projects totaling approximately 260 MW and provides operations management and oversight across the portfolio. Juhl Energy services every aspect of wind farm development from full development and ownership, general consultation, construction management and system operations and maintenance.  Juhl Energy also provides a broad range of clean energy solutions. 

Juhl Energy operates three primary business segments: renewable energy development, renewable power plant ownership, and energy and field services. Through its Juhl Energy Development Inc. (JEDI) subsidiary, the Company provides medium and large-scale wind, solar, and cogeneration energy development services. The Company holds ownership interests in five wind farm projects comprising approximately 25 MWs of wind power in Minnesota and Iowa, primarily through its subsidiary, Juhl Renewable Assets, Inc.   Through its wind farm operations subsidiary, Juhl Energy Services, Inc. (JESI), the Company performs maintenance and asset management services to over 110 MW of operating wind farms.  The acquisition of Power Engineers Collaborative enables the Company to provide a full range of engineering services to the utility industry and for central plant energy systems.  The Company also provides full sales and service to smaller, on-site wind and solar projects through its Juhl Renewable Energy Systems division. Juhl Energy is based in Pipestone, Minnesota and has other main offices in Chicago, Minneapolis, and Milwaukee. Juhl Energy is traded on the OTCQB under the symbol 'JUHL'. Additional information is available at the Company's website at www.juhlenergy.com or by calling (507) 562-8090.

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FORWARD LOOKING STATEMENTS

This news release includes forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 including statements that reflect Juhl Energy's current expectations about its future results, performance, prospects and opportunities. Juhl Energy has tried to identify these forward-looking statements by using words and phrases such as "may," "will," "expects," "anticipates," "believes," "intends," "estimates," "plan," "should," "typical," "preliminary," "hope," or similar expressions. These forward-looking statements are based on information currently available to Juhl Energy and are subject to a number of risks, uncertainties and other factors that could cause Juhl Energy's actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements and specifically those statements referring to any specific projects, prospective acquisitions and wind farm assets mentioned herein.  These risks, as may be described from time to time in Juhl Energy's SEC filings, are incorporated herein by reference.

Juhl Energy Investor Relations
Jody Janson
Phone: +1-888-438-JUHL (5845)
Fax: +1-585-486-1611
Email: [email protected]

SOURCE Juhl Energy, Inc.