Sierra Geothermal Reports Year-End 2009 Financial Results
April 28 2010 - 3:48PM
Marketwired
Sierra Geothermal Power Corp. (SGP) (TSX VENTURE: SRA) today
announced the release of its financial results for the year ended
December 31, 2009.
For the year ended December 31, 2009, SGP reported a net loss of
$2,954,675 or ($0.03) per share compared to a net loss of
$3,930,023 or ($0.06) per share for the year ended December 31,
2008.
As of December 31, 2009, SGP had cash and short-term investments
of $8,260,320 and working capital of $6,664,549 compared to cash
and short-term investments of $3,777,687 and working capital of
$4,039,809 as at December 31, 2008.
The full text of the Company's audited financial statements and
management's discussion and analysis is available on the SEDAR
website at www.sedar.com.
About Sierra Geothermal Power Corp.
Sierra is a Vancouver-based geothermal energy company focused on
the exploration and development of clean, sustainable power in
Western North America. Sierra has 100% control over its portfolio
of geothermal properties in Nevada, California and British
Columbia. Sierra's projects have a combined total estimated
capacity of almost 400MW. One megawatt (MW) is enough to power 800
homes. www.sierrageopower.com.
On behalf of the Board of Directors
Gary Thompson, P.Geo, President, Chief Executive Officer and
Director
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
This news release may contain forward-looking statements. All
statements, other than statements of historical fact, included or
incorporated by reference in this news release are forward-looking
statements, including, without limitation, statements regarding
activities, events or developments that Sierra expects or
anticipates may occur in the future. Forward-looking statements can
be identified by the use of forward-looking words such as "may",
"would", "could", "expect", "intend", "plan", "estimate",
"anticipate", "believe" or "continue" or similar words or the
negative thereof. Forward-looking statements in this news release
include statements about SGP projects having a combined total
estimated capacity of almost 400MW.
There can be no assurance that the plans, intentions or
expectations upon which these forward-looking statements are based
will occur. Readers are cautioned not to place undue reliance on
these forward-looking statements, which are not a guarantee of
performance and are subject to a number of uncertainties and other
factors that could cause actual results to differ materially from
those expressed or implied by such forward-looking statements.
These factors include general economic and market conditions,
changes in the law, actions of competitors, drill results and other
changes in circumstance, and Sierra's ability to implement business
strategies and pursue its business plan. In addition, all
forward-looking statements involve risks and uncertainties,
including the risks and uncertainties detailed in SGP's filings
with the applicable Canadian securities commissions, copies of
which are available at www.sedar.com. We urge you to carefully
consider these factors.
All of the forward-looking statements contained in this news
release are expressly qualified in their entirety by this
cautionary statement. The forward-looking statements included in
this news release are made as of the date of this news release and
Sierra undertakes no obligation to publicly update such
forward-looking statements to reflect new information, subsequent
events or otherwise, except as required by law.
Neither the TSX Venture Exchange nor its Regulation Services
Provider accepts responsibility for the adequacy or accuracy of
this release.
Contacts: Sierra Geothermal Power Corp. Gary Thompson President
& CEO (604) 683-0332 / 1-800-563-5631 info@sierrageopower.com
Sierra Geothermal Power Corp. Anthony Srdanovic, BA Investor
Relations (604) 683-0332 ext 115 asrdanovic@sierrageopower.com
www.sierrageopower.com
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