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March 24, 2014 Small-Cap Research Steven Ralston, CFA 312-265-9426 sralston@zacks.com scr.zacks.com 10 S. Riverside Plaza, Suite 1600, Chicago, IL 60606-3830 ForceField Energy, Inc. Current Recommendation Neutral Prior Recommendation Underperform Date of Last Change 02/12/2012 (FNRG-NASDAQ) FNRG: Trichlorosilane ops divested; now totally focused on LED lighting, ORC projects and smart meters Current Price (03/21/14) Six- Month Target Price SUMMARY DATA $5.65 $6.50 OUTLOOK ForceField Energy is pursuing opportunities in the green technology industries of LED lighting, ORC (Organic Rankin Cycle) technology and smart meters. In February, ForceField broadened its LED effort with the acquisition of Catalyst LED, a provider of LED lighting products & solutions. Management s growth initiatives over the last one-and-a-half years have transformed the company, positioning it to benefit from the secular trend toward more efficient energy generation and consumption. Recently, a LED lighting purchase order from an unnamed Fortune 100 company was announced. In February, the legacy TCS operations were divested. 52-Week High $6.25 52-Week Low $4.55 One-Year Return (%) 5.61 Beta -0.75 Average Daily Volume (shrs.) 23,951 Shares Outstanding (million) 14.9 Market Capitalization ($ mil.) $84.4 Short Interest Ratio (days) 7.13 Institutional Ownership (%) 15.9 Insider Ownership (%) 28.2 Annual Cash Dividend $0.00 Dividend Yield (%) 0.00 5-Yr. Historical Growth Rates Sales (%) N/A Earnings Per Share (%) N/A Dividend (%) N/A P/E using TTM EPS N/M P/E using 2013 Estimate N/M P/E using 2014 Estimate N/M Zacks Rank 3 Risk Level Type of Stock Industry Zacks Rank in Industry Above Average Small - Growth Energy Alt. 6 of 15 ZACKS ESTIMATES Revenue (in millions of $) 2012 2013 2014 2015 (Mar) 0.51 A 0.29 A 0.38 E (Jun) 0.53 A 0.22 A 0.47 E (Sep) 0.23 A 0.29 A 0.48 E (Dec) 0.87 A 0.33 E 0.57 E (Dec) 2.13 A 1.12 E 1.90 E 2.50 E Earnings per Share Q1 Q2 Q3 Q4 Year (EPS is operating earnings before non recurring items) (Mar) 2012 -$0.03 A 2013 -$0.04 A 2014 -$0.05 E 2015 (Jun) -$0.04 A -$0.04 A -$0.04 E (Sep) -$0.04 A -$0.04 A -$0.04 E (Dec) -$0.09 A -$0.04 E -$0.04 E (Dec) -$0.21 A -$0.17 E -$0.16 E -$0.09 E Q1 Q2 Q3 Q4 Year Zacks Projected EPS Growth Rate - Next 5 Years % ForceField converted to a calendar year on 12/31/2011. Prior results adjusted. N/A © Copyright 2014, Zacks Investment Research. All Rights Reserved.PDF Image | Small-Cap Research
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