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Renewable Energy Stocks: UGE (TSX: $UGE.V) Reports Third Quarter 2017 Financial Results

 

Toronto, Ontario - November 22, 2017 (Newsfile Corp.) (Investorideas.com Newswire) UGE International Ltd. (TSX: UGE) (the "Company" or "UGE"), a leader in renewable energy solutions for the commercial and industrial sector, reported its financial results for the three and nine months ended September 30, 2017. UGE reports all amounts in United States dollars.

Third Quarter 2017 Highlights

Selected Financial Information


Analysis of Financial Results

The Company would like to draw attention to the following points from its financial statements:

"UGE's focused approach to the mid-scale solar sector is resulting in exponential growth and an increasingly strong market leadership position," said UGE's CEO, Nick Blitterswyk. "Through the first three quarters of 2017 our revenue has grown approximately seven-times year over year, and we look forward to continued growth in revenue and EBITDA going forward."

We will be hosting an analyst and investor call at 10am EST today; please use the following dial-in information to join:

Dial-In: 1 (866) 297-6395 US/Canada Toll Free

Confirmation Number: 46034824

Full financial results and Management's Discussion and Analysis are posted to SEDAR (www.sedar.com) and are available through the Company's website.

About UGE

UGE delivers immediate savings to businesses through cleaner electricity. We help commercial and industrial clients become more competitive through the low cost of distributed renewable energy. With over 340 MW of experience globally, we work daily to power a more sustainable world. Visit us at www.ugei.com.

For more information, contact:

Jimmy Vaiopoulos
Chief Financial Officer
917-720-5685
investors@ugei.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This press release and the Company's Management Discussion and Analysis for the three and nine months ended September 30, 2017 (the "MD&A") contain forward-looking information that involves material assumptions and known and unknown risks and uncertainties, certain of which are beyond the Company's control. Such assumptions, risks and uncertainties include, without limitation, those associated with, loss of markets, expected sales, future revenue recognition, currency fluctuations, the effect of global and regional economic conditions, industry conditions, changes in laws and regulations, and changes in how they are interpreted and enforced, the lack of qualified personnel or management, fluctuations in foreign exchange or interest rates, demand for the Company's products, and availability of funding. The Company's performance could differ materially from those expressed in, or implied by, this forward-looking information and, accordingly, no assurances can be given that any of the events anticipated by the forward-looking information will transpire or occur, or if they do so, what benefits the Company will derive there from. The forward-looking information is made as of the date of this press release or the MD&A, as applicable, and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking information, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws. Actual events or results could differ materially from the Company's expectations and projections.


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Additional info regarding BC Residents and global Investors: Effective September 15 2008 - all BC investors should review all OTC and Pink sheet listed companies for adherence in new disclosure filings and filing appropriate documents with Sedar. Read for more info: http://www.bcsc.bc.ca/release.aspx?id=6894. Global investors must adhere to regulations of each country.


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