CarCharging Announces Third Quarter 2014 Financial Results

Largest Electric Vehicle Charging Service Owner, Operator, and Provider to Host Conference Call on Tuesday, June 23, 2015

MIAMI BEACH, Fla., June 18, 2015 /PRNewswire/ -- Car Charging Group, Inc. (OTCQB: CCGI) ("CarCharging") the largest owner, operator, and provider of electric vehicle (EV) charging services, announced today its financial results for the third quarter and three months ended September, 2014.

CarCharging's Third Quarter Highlights

  • Total revenue increased by 1,044% to $1,019,986 for the third quarter of 2014 as compared to $89,166 in the same period of the prior year.
  • Revenue for EV charging services rose by 913% to $414,157 in the third quarter of 2014, compared to $40,863 for third quarter of 2013.
  • Net loss per common share decreased 42% to $(0.11) from $(0.19) in the third quarter of 2014.
  • Increased monthly kilowatt-hour (kWh) charging output by 695% to 1,017,153 at the end of the third quarter 2014 from 127,898 at the end of the comparable period in 2013.

"CarCharging continues to improve substantially in various key performing areas, including increasing revenues, decreasing net loss per common share, as well as growth in charging output," stated Michael D. Farkas, CarCharging's Founder and Chief Executive Officer. "Not only will we continue our efforts to improve in these areas, but we will also work diligently to meet our financial reporting deadlines on a more consistent basis."

Conference Call

CarCharging will host a conference call on Tuesday, June 23, at 4:15pm EST to discuss its third quarter and the three months ended September 30, 2014.  During the call, Mr. Farkas will review the company's operating results. The telephone number for the conference call is (888) 671-1301 or (847) 619-6794, passcode 6691500#. A few days after the call, an archived copy of the conference call will be available on the CarCharging's website.

About Car Charging Group, Inc.  
Car Charging Group, Inc. (OTCQB: CCGI) is a pioneer in nationwide public electric vehicle (EV) charging services, enabling EV drivers to easily recharge at locations throughout the United States. Headquartered in Miami Beach, FL with offices in San Jose, CA; New York, NY; and Phoenix, AZ; CarCharging's business model is designed to accelerate the adoption of public EV charging.

Through its subsidiary, Blink Network, CarCharging also provides residential EV charging solutions for single-family homes.  For more information, please visit www.BlinkHQ.com.

CarCharging has strategic partnerships across multiple business sectors including multi-family residential and commercial properties, parking garages, shopping malls, retail parking, and municipalities.  

For more information about CarCharging, please visit www.CarCharging.com, www.facebook.com/Car.Charging, or www.twitter.com/CarCharging.

Forward-Looking Safe Harbor Statement:
This press release contains forward-looking statements as defined within Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. By their nature, forward-looking statements and forecasts involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the near future.  Those statements include statements regarding the intent, belief or current expectations of Car Charging Group, Inc., and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed conditions.

Investor Relations and Media Contacts:

CarCharging Media Contact:


CarCharging Investor Relations:

Suzanne Tamargo


Erastar, Inc.

Suzanne@CarCharging.com


erastar.com

(305) 521-0200 x 214


(775) 771-5808

 

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SOURCE Car Charging Group, Inc.