Paul will assume the duties of current President and Chief Investment Officer Dick Anderson, who will retire in the spring after 32 years at Mass. Capital.  Commenting on this transition, Dick said “Paul is a great addition to the Mass. Capital team.  Under his leadership, we are confident that Mass. Capital will remain a leading provider of mezzanine capital to Massachusetts-based companies.”

Paul can be reached at Pbolger@masscapital.com and 617-536-3907

Integrated Marketing: If It Were Easy, Everyone Would Do It

Back in the Mad Men era of the 1960s, it was enough to have great strategy, a big idea and fancy creative. In today’s marketplace, creating an integrated marketing plan that resonates with your audience at every stage and leaves a lasting impression takes much more. In addition to seamless messaging, it takes ongoing real-time interaction with your audiences, transparency, patience, and trust. While perfect integration is unattainable, agencies that understand the importance – and companies that do the best job of harmonizing their marketing efforts – have an indisputable advantage.

In order to make an impact in a market where consumers’ media, purchasing options and attention spans grow increasingly fragmented, it is important to remember that customers not only want a consistent experience across all touch points – they expect it. Come learn from some of Boston’s brightest marketing minds as they come together on a panel to discuss the importance of effective integrated campaigns and the advantages of consistent branding in an ever changing marketing and advertising landscape.

Register for the event by clicking here.

Worcester, MA  – World Energy Solutions, Inc. (NASDAQ: XWES), a leading energy management services firm, today announced its Chief Executive Officer, Phil Adams, has been named a Business Leader of the Year by the Worcester Business Journal (see full story and video here: http://bit.ly/15ppUQk). The leadership of the publication selected Adams for his outstanding work guiding the Company to profitability and five straight quarters of record revenue.

The Worcester Business Journal’s annual Business Leader of the Year award program recognizes Central Massachusetts’ top business leaders and organizations across four categories: Large Business; Small Business/Entrepreneur; Non-Profit; and Corporate Citizen of the Year. Adams won for his achievements in the Small Business/Entrepreneur category.

“Each year, we invite members of the Central Massachusetts business community to nominate business leaders in each of the four categories, and we supplement that with our own scouting from our work covering business in the region,” said Rick Saia, Editor, Worcester Business Journal. “Phil Adams and World Energy initially caught our attention in 2011 when the firm acquired three companies and posted its first year of profitability as a public company.

“Then 2012 unfolded with quarter after quarter of strong financial performance, successful customer engagements, another acquisition, Phil’s promotion to CEO, and the establishment of the Company’s new headquarters in City Square coupled with the hiring of its 100th employee. That’s not just a Central Mass. success story, that’s a great business story.”

Added Phil Adams, CEO, World Energy Solutions: “I am honored to receive this award and proudly accept it on behalf of the great team at World Energy that has helped make it all possible. I’d also like to recognize and thank co-founder and former CEO Richard Domaleski for the strong foundation he created here and for his trust and confidence in me as a colleague and leader. We began our energy business in the basement of the old Worcester Police Station in Exchange Place more than ten years ago, and have since created a profitable, growing Company that saves customers money, provides meaningful work to employees, and enthusiastically gives back to the community.”

The Business Leader of the Year award recipients will be honored at a ceremony, and participate in a roundtable conversation, hosted by the Worcester Business Journal at the Beechwood Hotel in Worcester, MA on March 26th from 4:30 – 7:30 p.m. More information about the event can be found in the Events section of www.WBJournal.com or at:http://bit.ly/WGsf4U.

About the Worcester Business Journal
The Worcester Business Journal is Central Massachusetts’ definitive source for business news. Every two weeks, it delivers news and opinion in print for the Central Massachusetts business community. It also delivers news business leaders need through its website, WBJournal.com and email newsletter, The Daily Report. In addition, The Worcester Business Journal hosts several informational and networking events for business leaders throughout Central Massachusetts.

About World Energy Solutions, Inc.
World Energy Solutions, Inc. (NASDAQ: XWES) is an energy management services firm that brings together the passion, processes and technologies to take the complexity out of energy management and turn it into bottom-line impact for the businesses, institutions and governments we serve. To date, the Company has transacted more than $30 billion in energy, demand response and environmental commodities on behalf of its customers, creating more than $1 billion in value for them. World Energy is also a leader in the global carbon market, where its World Energy Exchange® supports the Regional Greenhouse Gas Initiative (RGGI), the first mandatory market-based regulatory program in the U.S. to reduce greenhouse gas emissions. For more information, please visitwww.worldenergy.com.

This press release contains forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ from those indicated in the forward-looking statements. Such risks and uncertainties include, but are not limited to the following: our revenue and backlog are dependent on actual future energy purchases pursuant to completed procurements; the demand for our services is affected by changes in regulated prices or cyclicality or volatility in competitive market prices for energy; and there are factors outside our control that affect transaction volume in the electricity market. Additional risk factors are identified in our Annual Report on Form 10-K and subsequent reports filed with the Securities and Exchange Commission.

BOSTON – AMP Agency, an integrated communications agency, announced the hiring of Erica Melia as SVP, Account Management. In the role, Melia will lead the agency’s account management group—focusing on driving business results for clients, relationship management, developing talent, and bringing cutting edge innovation to the agency.

Melia brings with her more than 12 years of experience in integrated marketing with a specialty in digital. Her award-winning experience includes leading strategy and program execution for multiple Fortune 500 brands via e-commerce, CRM, promotions, branded entertainment and sponsorship across digital, social and mobile platforms.

“Erica’s appointment reinforces the agency’s commitment to providing clients with the best strategies to grow their business,” says Gary Colen, CEO at AMP Agency. “She’s a seasoned account leader with passion for strategic integrated marketing and an appetite for all things digital. She joins AMP with impressive credentials that include global brand experience and integrated channel expertise. We’re thrilled to have her on our team.”

Prior to joining AMP, Melia worked at Digitas and DraftFCB, providing scalable marketing programs that exceeded clients’ objectives. At these agencies, Melia oversaw multiple client relationships, including: Buick, Goodyear Retail, The Los Angeles Times, Celebrity Cruises, American Electric Power and Morgan Stanley. Separately, Melia also served as Director of Marketing at Mars Chocolate North America, where she drove the My M&M’s e-commerce direct-to-consumer and B2B businesses from launch to multi-million dollar business unit during her tenure.

“I am excited to join a top organization that has the passion and reputation that AMP has,” states Melia. “AMP’s blue chip client roster, entrepreneurial spirit and creative prowess made it a no brainer to join the organization. I’m looking forward to leveraging my background and experience to help AMP continue their momentum and build on their marketplace position.”

NEWTON, MA – BigBelly Solar, the global leader in intelligent waste and recycling collection, today announced that it has been chosen by AlwaysOn as one of the GoingGreen Silicon Valley Global 200 winners.  Inclusion in the GoingGreen Silicon Valley Global 200 signifies leadership amongst its peers and game-changing approaches and technologies that are likely to disrupt existing and entrenched players in green technology. BigBelly Solar was specially selected by the AlwaysOn editorial team and industry experts spanning the globe based on a set of five criteria: innovation, market potential, commercialization, stakeholder value, and media buzz.

BigBelly Solar and the GoingGreen Silicon Valley Global 200 companies will be honored at AlwaysOn’s seventh annual GoingGreen Silicon Valley, November 27^th and 28^th, 2012, at the Golden Gate Club in San Francisco, CA.

GoingGreen Silicon Valley is a two-day executive event where cutting-edge greentech CEOs meet the movers and shakers from the biggest industries on earth. Green technology innovators are transforming trillion dollar industries—and the solutions they are delivering not only promise to clean up pollution and restore ecosystems, but bring abundance and prosperity to everyone on earth.

“This year’s GoingGoing Global 200 displays a maturity in the green technology industry that makes it very attractive to both investors and innovators.  Greentech research is maturing rapidly, and as it couples with technology innovators and investors, companies are emerging that have the ability to change the way we live our lives for the better and bring huge returns to their founders and funders.” says Tony Perkins, founder and editor of AlwaysOn. “This year’s GoingGreen Global 200 winners are pushing the bounds of how technology can bring about change in the war on our planet’s waning resources.  The strength of these companies lies in their ability to nurture innovative ideas and seen them through to successful, sustainable, and profitable businesses.”

The GoingGreen Global 200 winners were selected from among thousands of domestic and international technology companies nominated by investors, bankers, journalists, and green technology industry insiders.  The AlwaysOn editorial team conducted a rigorous three-month selection process to finalize the 2012 list.

BigBelly Solar helps cities, colleges and other organizations transform their waste and recycling collection operations. Their solutions create efficiencies in the incredible resource-intensive processes for dealing with public space waste and facilitate truly sustainable recycling programs. By conserving manpower and fuel, BigBelly helps these organizations save money and reduce their carbon footprint.

A full list of all the AlwaysOn GoingGreen Silicon Valley 200 winners can be found on the AlwaysOn website at:

http://www.aonetwork.com/AOStory/Announcing-2012-GoingGreen-Global-200-Top-Private-Companies

“It is an honor to once again be recognized by AlwaysOn,” said Jim Poss, President and Founder of BigBelly Solar. “We continue to bring innovation to this industry in order to increase recycling and decrease CO2 emissions while providing a real ROI for our customers.”

About BigBelly Solar

Recognized as a C40 Cities Climate Leadership Group best practice, BigBelly Solar is a leading global provider of innovative and sustainable solutions for the management of waste & recycling, with more than 1,000 customers worldwide. For more information, visit http://bigbellysolar.com

About AlwaysOn

AlwaysOn is the leading business media brand networking the Global Silicon Valley. AlwaysOn helped ignite the social media revolution in early 2003 when it launched the AlwaysOn network. In 2004, it became the first media brand to socially network its online readers and event attendees. AlwaysOn’s preeminent executive event series includes the Silicon Valley Innovation Summit, OnMedia, OnHollywood, IMPACT Venture Summit Mid-Atlantic, Venture Summit East, OnDemand, Venture Summit Silicon Valley, OnMobile, and GoingGreen Silicon Valley. The AlwaysOn network and live event series continue to lead the industry by empowering its readers, event participants, sponsors, and advertisers like no other media brand.

BURLINGTON, MA — Aspen Technology, Inc. (NASDAQ: AZPN), a leading provider of software and services to the process industries, today announced financial results for its first quarter of fiscal year 2013, ended September 30, 2012.

Mark Fusco, Chief Executive Officer of AspenTech, said, “AspenTech began fiscal 2013 on a strong note, highlighted by mid-teens year-over-year growth in total license contract value.  We continue to expand the capabilities of our industry leading aspenONE suite, and believe that we remain well positioned to drive increased product adoption and usage levels over the long-term.  At the same time, our focus on expense management contributed to strong growth in profitability and free cash flow generation.”

First Quarter Fiscal 2013 and Recent Business Highlights

• The license portion of total contract value was $1.5 billion for the first quarter of fiscal 2013, which increased 2.3% sequentially and 14.7% compared to the first quarter of fiscal 2012.
• Total contract value, including the value of bundled maintenance, was $1.72 billion at the end of the first quarter of fiscal 2013, which increased 2.6% sequentially and 17.6% compared to the first quarter of fiscal 2012.
• Annual spend, which the company defines as the annualized value of all term license and maintenance revenue contracts at the end of the quarter, was approximately $312 million at the end of the first quarter of fiscal 2013, which increased 2.5% sequentially and 13.9% compared to the first quarter of fiscal 2012.
• The company announced today that its Board of Directors has approved a $100 million share repurchase program. This replaces the prior share repurchase program, which had approximately $49 million of remaining capacity as of the end of the first quarter.

Summary of First Quarter Fiscal Year 2013 Financial Results

AspenTech’s total revenue of $71.5 million increased 40% from $51.2 million in the first quarter of the prior year.

• Subscription and software revenue was $54.1 million in the first quarter of fiscal 2013, an increase from $31.9 million in the first quarter of fiscal 2012.
• Services & other revenue was $17.4 million in the first quarter of fiscal 2013, compared to $19.3 million in the first quarter of fiscal 2012.

For the quarter ended September 30, 2012, AspenTech reported income from operations of $9.0 million, compared to a loss from operations of $15.6 million for the quarter ended September 30, 2011.

Net income was $4.4 million for the quarter ended September 30, 2012, leading to EPS of $0.05, compared to a net loss per share of ($0.12) in the same period last fiscal year.

Non-GAAP income from operations, which adds back stock-based compensation expense, restructuring charges and amortization of intangibles associated with acquisitions, was $13.4 million for the first quarter of fiscal 2013, compared to a non-GAAP loss from operations of $12.0 million in the same period last fiscal year.  Non-GAAP net income was $7.3 million, or $0.08 per share, for the first quarter of fiscal 2013, compared to a non-GAAP net loss of $9.2 million, or ($0.09) per share, in the same period last fiscal year.  A reconciliation of GAAP to non-GAAP results is included in the financial tables included in this press release.

AspenTech had a cash balance of $163.4 million at September 30, 2012, a decrease of $1.9 million from the end of the prior quarter after using $17.2 million in cash to repurchase shares of common stock and reducing secured borrowings by $5.4 million.  During the first quarter, the company generated $18.5 million in cash flow from operations and $18.9 million in free cash flow after taking into consideration $1.8 million in capital expenditures and capitalized software, which was more than offset by $2.2 million of insurance proceeds related to prior period damage suffered at the company’s Houston facility.

Board of Directors Approves $100 Million Share Repurchase Program

As mentioned above, AspenTech’s Board of Directors approved a share repurchase program for up to $100 million. The timing and amount of any shares repurchased will be determined by AspenTech based on its evaluation of market conditions and other factors. Repurchases may also be made under a Rule 10b5-1 plan, which would permit shares to be repurchased when AspenTech might otherwise be precluded from doing so under applicable insider trading laws and regulations. The repurchase program may be suspended or discontinued at any time.

Use of Non-GAAP Financial Measures

This press release contains “non-GAAP financial measures” under the rules of the U.S. Securities and Exchange Commission. Non-GAAP financial measures are not based on a comprehensive set of accounting rules or principles. This non-GAAP information supplements, and is not intended to represent a measure of performance in accordance with, disclosures required by generally accepted accounting principles, or GAAP.  Non-GAAP financial measures should be considered in addition to, not as a substitute for or superior to, financial measures determined in accordance with GAAP.  A reconciliation of GAAP to non-GAAP results is included in the financial tables included in this press release.

Management considers both GAAP and non-GAAP financial results in managing AspenTech’s business.  As the result of adoption of new licensing models, management believes that, for the next few years, a number of AspenTech’s performance indicators based on GAAP, including revenue, gross profit, operating income (loss) and net income (loss), will be of limited value in assessing AspenTech’s performance, growth and financial condition. Accordingly, management instead is focusing on certain non-GAAP and other business metrics, including the non-GAAP metrics set forth in this press release, to track AspenTech’s business performance. None of these non-GAAP metrics should be considered as an alternative to any measure of financial performance calculated in accordance with GAAP.

Conference Call and Webcast

AspenTech will host a conference call and webcast today, November 1, 2012, at 8:00 a.m. (Eastern Time), to discuss the company’s financial results for the first quarter fiscal year 2013 as well as the company’s business outlook. The live dial-in number is (877) 245-0126, conference ID code 59815504. Interested parties may also listen to a live webcast of the call by logging on to the Investor Relations section of AspenTech’s website, <a href=”http://www.aspentech.com/corporate/investor.cfm”>http://www.aspentech.com/corporate/investor.cfm</a> , and clicking on the “webcast” link. A replay of the call will be archived on AspenTech’s website and will also be available via telephone at (855) 859-2056 or (404) 537-3406, conference ID code 59815504, through December 1, 2012.

About AspenTech

AspenTech is a leading supplier of software that optimizes process manufacturing – for energy, chemicals, engineering and construction, and other industries that manufacture and produce products from a chemical process. With integrated aspenONE solutions, process manufacturers can implement best practices for optimizing their engineering, manufacturing and supply chain operations. As a result, AspenTech customers are better able to increase capacity, improve margins, reduce costs and become more energy efficient. To see how the world’s leading process manufacturers rely on AspenTech to achieve their operational excellence goals, visit www.aspentech.com.

© 2012 Aspen Technology, Inc. AspenTech, aspenONE and the Aspen leaf logo are trademarks of Aspen Technology, Inc. All rights reserved.  All other trademarks are property of their respective owners.

Forward-Looking Statements

The second paragraph of this press release contains forward-looking statements for purposes of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.  Actual results may vary significantly from AspenTech’s expectations based on a number of risks and uncertainties, including, without limitation: AspenTech’s failure to develop new software products, enhance existing products and services, or penetrate new vertical markets; demand for, or usage of, aspenONE software declines for any reason; unfavorable economic and market conditions or a lessening demand in the market for process optimization software; unforeseen difficulties or uncertainties in the application of accounting standards; weaknesses in AspenTech’s internal controls; and other risk factors described from time to time in AspenTech’s periodic reports filed with the Securities and Exchange Commission. AspenTech cannot guarantee any future results, levels of activity, performance, or achievements. AspenTech expressly disclaims any current intention to update forward-looking statements after the date of this press release.

Worcester, MA – World Energy Solutions, Inc. (NASDAQ: XWES), a leading energy management services firm, today announced financial results for the three months ended September 30, 2012.

Financial Highlights (All figures are in US dollars and compare the three months ended September 30, 2012 results to the same period in 2011, unless otherwise noted.)

Revenue and Backlog

• Quarterly revenue increased 51% to a record $8.5 million
• Annualized backlog increased 46% to $20.7 million
• Total backlog rose 65% to $38.6 million

Operating Results

• Net income was $0.4 million, or $0.03 per share
• EBITDA was $1.2 million
• Gross margins were 69%
  • 83% in Energy Procurement
  • 22% in Energy Efficiency Services

Liquidity and Balance Sheet

• Cash from operations was $0.4 million
• Cash and cash equivalents were $3.0 million

Operating Highlights

• Solid execution across the Company’s Energy Procurement business:
  • Won new C&I accounts, including cross-sell opportunities
  • Continued to grow GSA Natural Gas Acquisition Program
  • Renewed several key accounts
• Growing traction in new product lines:
  • Accelerated growth of Energy Efficiency Services product line
  • Continued success in Mid-Market
  • Investment in Mid-Market and Energy Efficiency teams
• Subsequent to quarter end, World Energy acquired Northeast Energy Partners (NEP), a CT-based energy procurement firm specializing in the mid-market

“We had another very strong quarter, once again delivering record revenue and profitable growth, while also making a strategically significant acquisition,” said Phil Adams, CEO, World Energy Solutions. “I am particularly proud of our results given the recent rise in energy prices and some deals that pushed into Q4. Our Efficiency team had excellent growth, and together with our newest acquisition, NEP, we see significant opportunity to cross-sell in Connecticut and Massachusetts.

“With these results, we remain on track to hit our revenue and EBITDA growth targets for the year, and we have done so while building out our teams and making strategic acquisitions to position the Company for strong growth into 2013 and beyond.”

Financial Review

Year-to-Date 2012

For the nine months ended September 30, 2012, revenue increased by 63% to $24.7 million, due to the Company’s acquisitions completed in Q4 2011 and increased auction activity in our Retail product line. Revenue from the Company’s Energy Procurement segment increased 36%, reflecting the addition of the energy procurement businesses of Co-eXprise and GSE and continued execution in the Company’s base business. The comparable 2011 nine-month revenue total included a $0.7 million one-time, upfront payment from one of our energy suppliers. The Company’s Energy Efficiency Services segment contributed 17% of year-to-date revenue.

Gross margins were 73% for the first nine-months of 2012, reflecting the change in revenue mix. Energy Procurement gross margins remained strong at 83% compared to 81% in the same period last year, while Energy Efficiency Services gross margins were 25%. Energy Efficiency Services gross margins reflect equipment, material and direct labor costs associated with completed projects. Operating expenses as a percentage of sales decreased 5% to 68% as the Company continued to benefit from the operating leverage in its business model. As a result, the Company’s operating margin was 5%, a 3% decrease from the first nine-months of 2011, and EBITDA* margin was 14% compared to 15% last year. The increase in operating expenses includes non-recurring charges of $0.5 million related to severance, the relocation of the Company’s corporate and Ohio offices, and a channel partner advance. Excluding the non-recurring charges, operating and EBITDA* margins would have been 7% and 16%, respectively.

Q3 2011

Revenue for the three months ended September 30, 2012 rose 51% over the same period last year to $8.5 million, due to the Company’s acquisitions and increased auction activity in our Retail product line. Revenue from the Company’s Energy Procurement segment increased 16%, reflecting the addition of the energy procurement businesses of Co-eXprise and GSE and continued execution in the Company’s base business. The Energy Procurement results for the third quarter of 2011 reflected the $0.7 million one-time, upfront supplier payment mentioned above. The Company’s Energy Efficiency Services segment contributed 23% of Q3 2012 revenue.

Gross margins were 69% for the quarter, reflecting the change in revenue mix. Energy Procurement gross margins remained strong at 83% compared to the same gross margin percentage last year, while Energy Efficiency Services gross margins were 22%. Operating expenses as a percentage of sales decreased 5% to 63% as the Company continued to benefit from the operating leverage in its business model. As a result, the Company’s operating margin was 6% compared to 15% in the third quarter of 2011, and EBITDA* margin was 14% compared to 21% in the prior year quarter. The increase in operating expenses includes non-recurring charges of $0.1 million related to the relocation of the Company’s corporate and Ohio offices. Excluding these non-recurring charges, operating and EBITDA* margin would have been 6% and 14%, respectively. Operating income for the third quarter of 2011 included $0.5 million from the upfront supplier payment discussed above, net of internal and third party commission expense.

At September 30, 2012, the Company had cash and cash equivalents of $3.0 million, compared with $3.6 million at June 30, 2012 and $1.8 million at December 31, 2011. The decrease in cash and cash equivalents during the quarter was primarily due to a $1.0 million payment against notes payable from the 2011 acquisition of NES and a $0.8 million increase in accounts receivable, both offset by cash generated from EBITDA* of $1.2 million. The Company has short-term commitments of $3.8 million related to acquisitions, including Notes payable to sellers of $2.0 million due in the fourth quarter of 2012 and potential contingent consideration payments of $1.8 million due in the first quarter of 2013 if certain performance requirements are met. The Company forecasts its operating cash flow will be adequate to meet these obligations when due. The Company has not borrowed against its $2.5 million line-of-credit and is in compliance with all covenants.

Note: Backlog relates to contracts in force on a given date representing transactions between bidders and listers on our platform related to commodity brokerage assuming listers consume energy at their historical usage levels or deliver credits at expected levels. Total backlog represents the revenue that the Company would derive over the remaining life of those contracts. Annualized backlog represents the revenue that the Company would derive from those contracts within the 12 months following the date on which the backlog is calculated. Total and annualized backlog at September 30, 2012 included commodity backlog of $37.7 million and $19.8 million, respectively. In addition, total and annualized backlog include contracted management fees between World Energy and energy consumers for energy management and auction administration services of $0.9 million that are expected to be received over the following 12-month period. These management fees can be terminated within 30 days per the terms of the contracts.

Conference Call & Webcast

World Energy will hold a conference call today, November 1, 2012, at 5:00 p.m. (ET) to discuss its financial results and other corporate developments. To access the conference call by telephone, dial 1-888-517-2458 (domestic) or 1-847-413-3538 (international) and enter passcode 9895528#. A replay will be available two hours after the completion of the call, and for one week following the call, by dialing 1-888-843-7419 for domestic participants or 1-630-652-3042 for international participants, and entering passcode 9895528# when prompted. Participants may also access a live webcast of the conference call through the investor relations section of World Energy’s website, www.worldenergy.com. Please connect at least 15 minutes prior to the conference call to ensure adequate time for any software download that may be required to join the webcast. An archived replay of the webcast will be available for 90 days.

* Non-GAAP Financial Measures

World Energy continues to provide all information required in accordance with GAAP and also provides certain non-GAAP financial measures. A “non-GAAP financial measure” refers to a numerical measure of the Company’s historical performance, financial position, or cash flows that excludes (or includes) amounts that are included in (or excluded from) the most directly comparable financial measure calculated and presented in accordance with GAAP in the Company’s financial statements. World Energy provides adjusted EBITDA as additional information relating to our operating results. This non-GAAP measure excludes expenses related to share-based compensation, depreciation related to our fixed assets, amortization expenses associated with acquisition-related assets and capitalized software, net interest and income tax expense.

Management believes it is useful to exclude depreciation, amortization, net interest and income tax expense as these are essentially fixed amounts that cannot be influenced by management in the short term. In addition, management believes it is useful to exclude share-based compensation as this is not a cash expense.

Management uses this non-GAAP measure for internal reporting and bank reporting purposes. World Energy provides this non-GAAP financial measure in addition to GAAP financial results, because management believes that this non-GAAP financial measure provides useful information to certain investors and financial analysts in helping them to better understand the Company’s operating results and underlying operational trends. It also provides a consistent basis for comparison across accounting periods.

This non-GAAP financial measure is not prepared in accordance with GAAP. This measure may differ from the GAAP information, even where similarly titled, used by other companies and therefore should not be used to compare the Company’s performance to that of other companies. There are significant limitations associated with the use of non-GAAP financial measures. The presentation of this additional information is not meant to be considered in isolation or as a substitute for the presentation of net income prepared in accordance with GAAP.

Whenever World Energy reports non-GAAP financial measures, a reconciliation of the non-GAAP financial measure to the most closely applicable GAAP financial measure will be made available. Investors are encouraged to review these reconciliations to ensure they have a thorough understanding of the reported non-GAAP financial measures and their most directly comparable GAAP financial measures. Reconciliation of GAAP net income (loss) to adjusted EBITDA is shown below:

About World Energy Solutions, Inc.

World Energy Solutions, Inc. (NASDAQ: XWES) is an energy management services firm that brings together the passion, processes and technologies to take the complexity out of energy management and turn it into bottom-line impact for the businesses, institutions and governments we serve. To date, the Company has transacted more than $30 billion in energy, demand response and environmental commodities on behalf of its customers, creating more than $1 billion in value for them. World Energy is also a leader in the global carbon market, where its World Energy Exchange® supports the ground-breaking Regional Greenhouse Gas Initiative’s (RGGI) cap and trade program for CO₂ emissions. For more information, please visit www.worldenergy.com.

This press release contains forward-looking statements. The words “anticipates,” “believes,” “estimates,” “expects,” “intends,” “may,” “plans,” “projects,” “will,” “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. We have based these forward-looking statements on our current expectations and projections about future events, including without limitation, our expectations of backlog and energy prices. Although we believe that the expectations underlying any of our forward-looking statements are reasonable, these expectations may prove to be incorrect and all of these statements are subject to risks and uncertainties. Should one or more of these risks and uncertainties materialize, or should underlying assumptions, projections or expectations prove incorrect, actual results, performance or financial condition may vary materially and adversely from those anticipated, estimated or expected. Such risks and uncertainties include, but are not limited to the following: our revenue and backlog are dependent on actual future energy purchases pursuant to completed procurements; the demand for our services is affected by changes in regulated prices or cyclicality or volatility in competitive market prices for energy; and there are factors outside our control that affect transaction volume in the electricity market. Additional risk factors are identified in our Annual Report on Form 10-K and subsequent reports filed with the Securities and Exchange Commission. The forward-looking statements made in this press release are made as at the date hereof. We undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events, other than as required by securities laws.

For additional information, contact:

Source:  World Energy Solutions, Inc.