Earnings
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Nov 14, 2013 02:37PM
TORONTO , Nov. 14, 2013 /CNW/ - Crius Energy Trust (KWH-UN.TO) ("Crius Energy" or the "Trust"), today announced its financial results for the three-month period ended September 30, 2013 . The Trust commenced operations on November 13, 2012 with the acquisition of a 26.8% ownership interest in Crius Energy, LLC (the "Company") by the Trust's wholly-owned subsidiary. All figures in U.S. dollars unless otherwise noted.
"The third quarter was highlighted by continued organic customer growth and the expansion of our suite of energy products," said Michael Fallquist , President and CEO of Crius Energy Trust. "We added customers across our brands while reducing overall attrition and continuing to diversify our business as we've nearly doubled our natural gas customers since the beginning of the year. We believe our third-quarter performance further validates our multi-channel marketing strategy which experienced continued growth despite the traditionally slowest quarter for the network marketing industry. Furthermore, and importantly, we continue to have the financial resources available which allow us to capitalize on our unique position to respond quickly to market opportunities in our evolving industry, make investments in our business that promote long-term organic growth, and pursue accretive acquisitions.
"We are optimistic about our reseller agreement with SolarCity, which was launched at our Viridian Energy brand's PowerUp! annual convention in September, and is off to a great start. Partnering with the number one full-service solar provider in the U.S. opens up a range of opportunities for our company to expand into new markets and broaden the range of products we offer to customers across our brands. Just as importantly, this expansion of services is a demonstration of our long-term vision of being a comprehensive energy solutions partner providing a broad suite of energy products and services that make it easier for consumers to make informed decisions that address their energy needs."