WALTHAM, Mass., March 21, 2017 /PRNewswire/ — American DG Energy Inc. (NYSE MKT: ADGE) the “Company”, an On-Site Utility provider offering clean electricity, heat, hot water and cooling solutions to hospitality, healthcare, housing and fitness facilities, reported total revenues of $6,141,749 for 2016, compared to $6,358,196 for 2015. GAAP diluted loss per share (EPS) was $0.01 for 2016, compared with a GAAP diluted loss per share of $0.11 for 2015. Reflecting the Company’s ongoing efforts to optimize its On-Site Utility production, gross margin excluding depreciation and site impairments improved in 2016 to 39.9% versus 36.1% in 2015, a 3.8 percentage point increase and a 10.5% improvement in gross margin.
Chief Financial Officer Bonnie Brown observed, “In the past year we worked hard to set American DG on the path toward financial stability. The elimination of our substantial debt and the sale of the majority of our interest in EuroSite Power freed the company to focus resources on improving the core U.S. business. This renewed focus is evident in the substantial improvement in results.”