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Servidyne, Inc. (SERV) Expects Higher Fourth Quarter Revenues and Backlog

ATLANTA–(BUSINESS WIRE)–SERVIDYNE, INC. (Nasdaq: SERVNews), an energy efficiency and demand response company, announced today that it expects its fiscal 2010 fourth quarter results, which the Company will report later this month, will reflect consolidated revenues of approximately $6.9 million for the quarter ended April 30, 2010, representing year-over-year quarterly revenue growth of more than 57%. At the Company’s core Building Performance Efficiency (“BPE”) Segment, fourth quarter revenues are expected to be approximately $6.3 million, an increase of more than 69% over the fourth quarter of last year and approximately 52% higher than the third quarter of this year. The Company’s order backlog at April 30, 2010, is expected to be approximately $17.5 million, a year-over-year increase of 44%, including backlog at the BPE Segment of approximately $15.4 million, representing an increase of 55% over last year and 79% above the third quarter of this year.

“We are very pleased with the progress of our BPE Segment,” said Alan R. Abrams, Servidyne’s Chairman and CEO. “Order activity strengthened throughout the fiscal year, particularly in the second half, including order bookings from customers in both the private sector and the government sector. During the fourth quarter, the BPE Segment was awarded approximately $12.4 million in new customer orders.”

The Company believes that the recent increase in BPE revenues and order activity is a direct result of three distinct factors: the success of the Company’s enhanced sales and marketing efforts, which were initiated in fiscal 2009; an overall improvement in the capital spending environment for many of the BPE Segment’s customers; and the beginning of the long-anticipated infusion of U.S. federal expenditures for energy efficiency upgrades of government facilities. The Company believes that these factors will continue to be favorable for the BPE Segment in fiscal year 2011.

About Servidyne

Established in 1925, Servidyne, Inc. is headquartered in Atlanta, Georgia, and operates globally through its wholly–owned subsidiaries. The Company provides comprehensive energy efficiency and demand response solutions, sustainability programs, and other products and services that significantly enhance the operating and financial performance of existing buildings. Servidyne enables its customers to cut energy consumption and realize immediate cost savings across their portfolios, while reducing greenhouse gas emissions and improving the comfort and satisfaction of their buildings’ occupants. The Company serves a broad range of markets in the United States and internationally, including owners and operators of corporate, commercial office, hospitality, gaming, retail, light industrial, distribution, healthcare, government, multi-family and education facilities, as well as energy services companies and public and investor-owned utilities. Servidyne also owns commercial income-producing properties in the Southeast. For more information, please visit or call 770-953-0304.

Certain statements contained or incorporated by reference in this press release, including without limitation, statements containing the words “believe,” “anticipate,” “estimate,” “expect,” “plan,” “project,” “forecast,” “should,” and words of similar import, are forward-looking statements within the meaning of the federal securities laws. Forward-looking statements in this release include statements regarding the following matters: the Company’s belief that its improved fourth quarter revenues and backlog were driven by growing demand for energy efficiency and demand response products and services; the Company’s expectations of reporting higher fourth quarter revenues and order backlog; the Company’s belief that the BPE Segment has benefited from its enhanced sales and marketing efforts; the Company’s belief that a number of its customers are increasing capital spending; the Company’s belief that the long-anticipated infusion of U.S. federal expenditures for energy efficiency upgrades of government facilities has begun; and the Company’s expectation that these factors will continue to be favorable for the BPE Segment in fiscal 2011. Forward-looking statements involve known and unknown risks, uncertainties and other matters which may cause the actual results, performance, or achievements of Servidyne, Inc. to be materially different from any future results, performance, or uncertainties expressed or implied by such forward-looking statements. Factors affecting forward-looking statements in this release include, without limitation, the Company’s ability to secure adequate capital to fund the future anticipated revenue growth at the BPE Segment and the other factors identified under the caption “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended April 30, 2009, as updated from time to time in the Company’s Quarterly Reports on Form 10-Q. Servidyne, Inc. does not undertake to update these forward-looking statements.

Tuesday, July 13th, 2010 Uncategorized
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