Willdan Awarded New $7.5 Million Contract from Southern California Utility for Energy Efficiency Program
Category: Press Release
Jul 13, 2015
ANAHEIM, Calif.--BUSINESS WIRE--Willdan Group, Inc. (“Willdan”) (NASDAQ:WLDN) announcedtoday that it has signed a new contract with a major Southern California utility to help reduce energy usage in small and medium non-residential facilities. The program has an initial budget of $7.5 million through June 2016 and will focus on bringing energy-saving measures to small and medium non-residential facilities with a monthly average demand of less than 200 kilowatts.
Willdan's Chief Executive Officer, Tom Brisbin, commented, “This win further expands our presence into the Southern California utility market, an area of historic strength for Willdan. In the first half of the year we have seen strong ordering activity from both our energy and engineering clients, and see a robust pipeline of new proposal activity.”
“The new Southern California utility program offers an opportunity for select small and medium non-residential customers to both understand and quickly improve their energy efficiency, and receive utility incentives,” said Tom Kouris of Willdan. “This market sub-segment historically represents a significant, energy-intensive sector. By reducing their energy consumption and utility grid peak demand, business owners will enjoy lower operating costs.”
Willdan currently supports electric utility programs nationwide that provide technical assistance and financial incentives for reducing energy usage in many types of facilities, including public and commercial buildings, healthcare facilities, laboratories, hotels, data centers, restaurants and resorts.
Willdan provides professional consulting and technical services to utilities, public agencies and private industry throughout the United States. The Company's service offerings span a broad set of complementary disciplines that include energy efficiency and sustainability, engineering and planning, financial and economic consulting, and national preparedness. Willdan provides integrated technical solutions to extend the reach and resources of its clients, and provides all services through its subsidiaries specialized in each segment. For additional information, visit Willdan's website at www.willdan.com.
Forward Looking Statements
Statements in this press release that are not purely historical, including statements regarding Willdan's intentions, hopes, beliefs, expectations, representations, projections, estimates, plans or predictions of the future are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The forward-looking statements involve risks and uncertainties including, but not limited to, the risk that Willdan will not be able to expand its services or meet the needs of customers in markets in which it operates. It is important to note that Willdan's actual results could differ materially from those in any such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, a slowdown in the local and regional economies of the states where Willdan conducts business and the loss of or inability to hire additional qualified professionals. Willdan's business could be affected by a number of other factors, including the risk factors listed from time to time in Willdan's SEC reports including, but not limited to, the Annual Report on Form 10-K filed for the year ended January 2, 2015. Willdan cautions investors not to place undue reliance on the forward-looking statements contained in this press release. Willdan disclaims any obligation to, and does not undertake to, update or revise any forward-looking statements in this press release.
Chief Financial Officer
Financial Profiles, Inc.