Acorn Reports Higher Q1 Gross Profit on 1% Revenue Increase; Cash Position of $1.9M Provides Strong Foundation to Build Remote Monitoring & Control Business; Investor Call Tomorrow at 11am...
ACORN ENERGY INC (ACFN)
US:NASDAQ Investor Relations:
acornenergy.com/investor_information.php
Company Research
Source: GlobeNewswire
WILMINGTON, Del., May 13, 2020 (GLOBE NEWSWIRE) -- Acorn Energy, Inc. (OTCQB: ACFN), a provider of remote monitoring and control systems and IoT services for generators, pipelines, compressors and other industrial equipment through its OmniMetrix subsidiary, today announced results for its first quarter (Q1’20) ended March 31, 2020. Acorn will host an investor call tomorrow, May 14th at 11:00 a.m. ET to discuss its results and outlook (details below). Jan Loeb, Acorn’s CEO, commented, "Our Q1’20 topline and bottomline performance were relatively stable versus Q1’19, despite business development headwinds. Monitoring revenue rose 17% in Q1’20 but was offset by a 21% decrease in hardware sales, reflecting energy industry challenges and some business disruption from the Coronavirus pandemic. Q1’20 gross margin improved to 69%, compared to 62% in Q1’19, principally reflecting an increase in higher-margin monitoring revenue. “While the Coronavirus is certain to negatively impact our b
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Sec Filings
- 3/7/24 - Form 8-K
- 3/7/24 - Form 10-K
- 2/21/24 - Form 4
- ACFN's page on the SEC website