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
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Jim Lucy Blog
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Jim Lucy has been wandering through the electrical market for more than 30 years, most of the time as an editor for Electrical Wholesaling, Electrical Marketing newsletter and CEE News. During that time he and the editorial team for the publications have won numerous national awards for their coverage of the electrical business. He showed an early interest in electricity, when as a youth he had an idea for a hot dog cooker. Unfortunately, the first crude prototype malfunctioned and the arc nearly blew him out of his parents' basement. Before becoming an editor for Electrical Wholesaling magazine and Electrical Marketing, he earned a BA degree in journalism and a MA in communications from Glassboro State College, Glassboro, NJ., which is formerly best known as the site of the 1967 summit meeting between President Lyndon Johnson and Russian Premier Aleksei Nikolayevich Kosygin, and now best known as the New Jersey state college that changed its name in 1992 to Rowan University because of a generous $100 million donation by N.J. zillionaire industrialist Henry Rowan. Jim is a Brooklyn-born Jersey Guy happily transplanted in the fertile plains of Kansas for the past 20 years.