Servidyne Reports Third Quarter Results

ATLANTA, March 17 /PRNewswire-FirstCall/ -- SERVIDYNE, INC. (NASDAQ:SERV), a building performance expert services and real estate company, reported today that its SEC Form 10-Q quarterly report reflects net earnings of $.51 per share for the first nine months ended January 31, 2008, compared to net earnings of $.29 per share for the same period last year. Building performance expert services revenues for the first nine months ended January 31, 2008, grew by approximately 24% over the prior year.

For the 3rd quarter ended January 31, 2008, the Company reported net earnings of $.16 per share, compared to net earnings of $.34 per share in the prior year. Last year's quarterly earnings included a real estate gain on sale of $.54 per share, whereas the current year included a real estate gain on sale of $.36 per share.

"I am pleased by our continuing successes in real estate," stated Alan R. Abrams, Chairman, President and CEO. "At our building performance expert services segment, we continue to see strong demand for our energy management and building productivity products and services, as is evidenced by the ongoing year-over-year quarterly double-digit percentage increases in revenues, backlog and profits generated by those offerings. I am encouraged by our growing pipeline of infrastructure upgrades and energy savings project opportunities, although I am disappointed that 3rd quarter project revenues and backlog were negatively impacted by unanticipated project delays by certain customers."

Established in 1925 and operating nationwide and internationally, Servidyne provides comprehensive energy efficiency, infrastructure upgrade, and productivity management solutions to building owners and operators, and engages in commercial real estate investment and development. The Company's building performance products and services enable customers to optimize the short-term and long-term financial performance of their building portfolios, while reducing their carbon footprints and improving the comfort and satisfaction of their buildings' occupants. These offerings include comprehensive sustainability programs, energy engineering and energy management analytical consulting services, turnkey implementation of energy savings and other infrastructure upgrade and retrofit projects, and proprietary Web/wireless preventive maintenance and service request systems with integrated utility and maintenance reporting. The Company also owns or controls shopping centers in the Midwest and Southeast and office properties in metropolitan Atlanta, Georgia. For more information about Servidyne, please visit http://www.servidyne.com/ or call 770-953-0304.

Certain statements contained in this news release are forward-looking statements within the meaning of federal securities laws. Such forward- looking statements involve known and unknown risks, uncertainties and other matters, including the risks and uncertainties set forth under the heading "Risk Factors" in the Company's Annual Report on Form 10-K, which may cause the actual results, performance or achievement of Servidyne, Inc. to be materially different from any past or future results, performance, or uncertainties expressed or implied by such forward-looking statements. Servidyne, Inc. does not undertake to update these forward-looking statements.

CONDENSED CONSOLIDATED RESULTS OF OPERATIONS
(UNAUDITED)

Third Quarter Nine Months Ended
January 31, January 31,
2008 2007 2008 2007
Revenues from Continuing
Operations $4,208,896 $4,921,426 $16,581,496 $12,969,361

Loss from Continuing
Operations $(707,281) $(742,799) $(704,389) $(1,039,932)
Earnings from
Discontinued Operations 1,289,579 1,945,283 2,500,219 2,047,471
Net Earnings $582,298 $1,202,484 $1,795,830 $1,007,539
Net (Loss) Earnings per
share from:
Continuing Operations
- Basic and Diluted $(0.20) $(0.21) $(0.20) $(0.29)
Discontinued Operations
- Basic and Diluted 0.36 0.55 0.71 0.58
Net Earnings per share
- Basic and Diluted $0.16 $0.34 $0.51 $0.29

First Call Analyst:
FCMN Contact:

Source: Servidyne, Inc.

CONTACT: Alan R. Abrams, Chairman, President & Chief Executive Officer
of Servidyne, Inc., +1-770-953-0304, alan.abrams@servidyne.com

Web site: http://www.servidyne.com/

2008-03-17 16:33:08 0314345 PRNEWSWIRE