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April 26, 2015 6:20 AM ET

Electric Utilities

Company Overview of Genie Energy Ltd.

Company Overview

Genie Energy Ltd., through its subsidiary, Genie Energy International Corporation, operates as a retail energy provider and a developer of an oil and gas exploration company. The company operates through two segments, Genie Retail Energy and Genie Oil and Gas. The Genie Retail Energy segment resells electricity and natural gas to residential and small business customers primarily in the Eastern United States. The Genie Oil and Gas segment operates an exploration project in the southern portion of the Golan Heights in Northern Israel; has an 89.9% interest in an oil shale exploration project in Central Mongolia; holds and manages a 43.1% interest in an oil shale development project in Colorad...

550 Broad Street

Newark, NJ 07102

United States

Founded in 2001

235 Employees

Phone:

973-438-3500

Fax:

973-438-1256

Key Executives for Genie Energy Ltd.

Chairman, Chief Executive Officer and Chairman of Nominating Committee
Age: 58
Total Annual Compensation: $360.0K
President
Age: 53
Total Annual Compensation: $36.1K
Chief Financial Officer and Treasurer
Age: 37
Total Annual Compensation: $370.3K
Executive Vice President of Operations
Age: 30
Total Annual Compensation: $175.0K
Vice Chairman
Age: 43
Total Annual Compensation: $978.2K
Compensation as of Fiscal Year 2014.

Genie Energy Ltd. Key Developments

Genie Energy Ltd. Declares Preferred Stock Dividend for the First Quarter of 2015, Payable on May 15, 2015

The Board of Directors of Genie Energy Ltd. declared a first quarter 2015 dividend of $0.1594 per share of its series 2012-A preferred stock. The dividend will be paid on May 15, 2015 to preferred stockholders of record as of the close of business on May 6, 2015. The ex-dividend date is May 4, 2015. The distribution will be treated as a return of capital for tax purposes.

Genie Energy Declares Quarterly Dividend on Common Stock for the Fourth Quarter of 2014, Payable on or About March 31, 2015

The board of directors of Genie Energy has declared a quarterly dividend of $0.06 per share to holders of its Class A and Class B common stock for the fourth quarter of 2014. The dividend will be paid on or about March 31, 2015 to stockholders of record as of the close of business on March 23, 2015. The ex-dividend date will be March 19, 2015. The distribution will be treated as a return of capital for tax purposes.

Genie Energy Ltd. Reports Unaudited Consolidated Financial Results for the Fourth Quarter and Full Year Ended December 31, 2014; Reports Impairment Charges for Fourth Quarter Ended December 31, 2014

Genie Energy Ltd. reported unaudited consolidated financial results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported revenues of $49.7 million compared to $67.1 million a year ago. Adjusted EBITDA was negative of $5 million compared to $0.7 million a year ago. Loss from operations was $10.7 million compared to $0.4 million a year ago. Net loss attributable to common stockholders was $10.8 million or $0.50 per diluted share compared to $0.8 million or $0.04 per diluted share a year ago. Net cash used in operating activities was $11 million compared to $1.95 million a year ago. For the full year, the company reported revenues of $275.03 million compared to $279.17 million a year ago. Adjusted EBITDA was negative of $5 million compared to $0.7 million a year ago. Loss from operations was $25.61 million compared to income from operations of $0.626 million a year ago. Loss before income taxes was $27.312 million against $2.586 million a year ago. Net loss attributable to common stockholders was $27.9 million or $1.31 per basic and diluted share compared to $7.13 million or $0.36 per basic and diluted share a year ago. Net cash used in operating activities was $19.102 million compared to net cash provided by operating activities of $1.22 million a year ago. Capital expenditures were $1.44 million compared to $0.313 million a year ago. The company reported Goodwill impairment of $3.6 million for the fourth quarter ended December 31, 2014.

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