Energy 1 Announces Positive Third Quarter Financial Results Revenue Exceeds $1MM Post Master Lease Acquisition
BOCA RATON, Fla., Dec. 5, 2012 /PRNewswire/ -- Energy 1 Corporation ("E1") (OTC: EGOC) announces its financial performance for the third quarter of 2012.
Energy 1 is please to report operating income of $1,338,814 and EBITA of $346,868 for the nine months ending September 30, 2012. This is compared to operating income of $12,500 and EBITA of ($182,787) during the same period last year.
"The Company achieved many of the goals we set for 2012," said Raymond T. Brown, Chairman of E1. "Energy 1 now has a platform from which to grow, and the recent acquisition of Master Lease represents a major step in that direction."
About Master Lease
Acquired by Energy 1 in September of 2012, Master Lease is a 40yr+ truck & trailer leasing business based in Henderson, Colorado. Their customer base consists primarily of owner-operators and small trucking companies who haul for regional distributors such as First Choice Transport, Greatwide Logistics, HVH, Landstar, Monfort, National Carriers and Power Source. Master Lease's present portfolio is comprised of more than 150 active leasing customers with approximately 250 over-the-road trucks & trailers, as well as some specialty equipment.
For information about Master Lease, please visit: http://www.MasterLease.com
About Energy 1 Corporation
Headquartered in Boca Raton, Florida, E1 develops, manufactures and distributes fuel efficiency and emission reduction solutions for retrofit on diesel and gasoline powered equipment. E1's technologies are available for variable as well as constant speed motors and can be configured to meet most desires or need.
For more information about E1 Trucks, the TekFuel System, the ExhausTek or IonTek solutions available for your truck or fleet, please feel free to contact E1.
For more information, please visit: www.Energy1Corp.com
Forward-Looking Statement: Please be advised that statements made herein, other than historical data, constitute forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those stated or implied by such forward-looking statements.
Energy 1 Corporation
SOURCE Energy 1 Corporation