ESCO Servidyne enjoys 24% increase in 2Q revenues

Servidyne Inc., Atlanta (SERV), said revenues from its fiscal first quarter ended July 31 were approximately $5.1 million, representing year-over-year growth of 24 percent. The company's order backlog at July 31 exceeded $14.3 million, a year-over-year increase of 58%. However, the consolidated net loss for the first quarter was $749,743, compared to a consolidated net loss of $705,586 for the same period last year.

“Despite the uncertainty that persists in the overall economy, we are pleased that demand for our services and products continues to grow,” said Alan Abrams, chairman and CEO. “Over the last year, our core BPE Segment has experienced a surge in demand for its energy efficiency offerings, as evidenced by the growth in revenues and order backlog." Details