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0000950152-05-007469.txt : 200509060000950152-05-007469.hdr.sgml : 2005090520050906111425ACCESSION NUMBER:0000950152-05-007469CONFORMED SUBMISSION TYPE:8-KPUBLIC DOCUMENT COUNT:29CONFORMED PERIOD OF REPORT:20050902ITEM INFORMATION:Regulation FD DisclosureITEM INFORMATION:Financial Statements and ExhibitsFILED AS OF DATE:20050906DATE AS OF CHANGE:20050906

FILER:

COMPANY DATA:COMPANY CONFORMED NAME:METRETEK TECHNOLOGIES INCCENTRAL INDEX KEY:0000882154STANDARD INDUSTRIAL CLASSIFICATION:SERVICES-BUSINESS SERVICES, NEC [7389]IRS NUMBER:841169358STATE OF INCORPORATION:DEFISCAL YEAR END:1231

FILING VALUES:FORM TYPE:8-KSEC ACT:1934 ActSEC FILE NUMBER:001-12014FILM NUMBER:051069410

BUSINESS ADDRESS:STREET 1:303 EAST 17TH AVENUESTREET 2:SUITE 660CITY:DENVERSTATE:COZIP:80203BUSINESS PHONE:3035925555

MAIL ADDRESS:STREET 1:303 EAST 17TH AVENUESTREET 2:SUITE 660CITY:DENVERSTATE:COZIP:80203

FORMER COMPANY:FORMER CONFORMED NAME:MARCUM NATURAL GAS SERVICES INC/NEWDATE OF NAME CHANGE:19930328

8-K1l15911ae8vk.htmMETRETEK TECHNOLOGIES, INC. 8-K

Metretek Technologies, Inc. 8-K

Table of Contents

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section13 or 15(d) of
The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): September2, 2005

METRETEK TECHNOLOGIES, INC.

(Exact name of Registrant as specified in its charter)

Delaware

0-19793

84-11698358

(State or other jurisdiction

(Commission File Number)

(I.R.S Employer

of incorporation)

Identification No.)

303 East 17th Avenue, Suite660, Denver, Colorado

80203

(Address of principal executive offices)

(Zip code)

Registrants telephone number, including area code: (303)785-8080

Not Applicable
(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfythe filing obligation of the Registrant under any of the following provisions (see GeneralInstruction A.2. below):

o Written communications pursuant to Rule425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule14d-2(b) under the Exchange Act (17CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule13e-4(c) under the Exchange Act (17CFR 240.13e-4(c))

TABLE OF CONTENTS

Item7.01 RegulationFD Disclosure.Item9.01 Financial Statements and Exhibits.SIGNATURESEX-99.1EX-99.2EX-99.3

Table of Contents

Item7.01 RegulationFD Disclosure.

On September2, 2005, Metretek Technologies, Inc., a Delaware corporation (the Company),announced that it will be presenting on September 7th at the Roth Capital Partners NewYork Conference being held at the Westin New York at Times Square. This presentation, to be givenby the executive officers of the Company including W. Phillip Marcum, the President and ChiefExecutive Officer of the Company, A. Bradley Gabbard, the Executive Vice President and ChiefFinancial Officer of the Company, and Sidney Hinton, President and Chief Executive Officer of theCompanys PowerSecure, Inc. subsidiary, will include information about the business, operations,financial results and prospects of the Company and its subsidiaries, including current operations,business initiatives and updated guidance on fiscal 2005 financial results. Messrs.Marcum,Gabbard, Hinton and other executive officers of the Company may also be giving this investmentpresentation from time to time, after the Roth Capital Partners New York Conference, to otherinvestors, investment analysts and other members of the financial and investment community. A copyof this investment presentation is available on the Companys website at www.metretek.com underInvestor Info, and is also attached to this Report as Exhibit99.1 and incorporated herein bythis reference. A copy of the Companys press release announcing the Companys presentation at theRoth Capital Partners New York Conference is attached to this Report as Exhibit99.2 andincorporated herein by this reference.

On September2, 2005, the Company also announced that it suffered minor damage from HurricaneKatrina to its Belle Chasse division offices located in the New Orleans metro area. The Company isin the process of assessing the effects, both short- and long-term, on its operations that mayoccur as a result of customers curtailing services pending repair of damaged production facilities,and provided updated guidance, based on current, preliminary information, after giving effect ofHurricane Katrina. A copy of the Companys press release discussing the effects of HurricaneKatrina on the Companys operations and projected financial results is attached to this Report asExhibit99.3 and incorporated herein by this reference.

The presentation attached to this Report contains forward-looking statements made within themeaning of and pursuant to the safe harbor provisions of the Private Securities Litigation ReformAct of 1995. Forward-looking statements are all statements other than statements of historicalfacts, including statements concerning the plans, intentions, expectations, projections, hopes,beliefs, objectives, goals and strategies of management, such as statements about future earnings,revenues, cash flows and other future financial and non-financial items, performance or events;statements about current and proposed products, services, markets, technologies or businesses; andstatements of assumptions underlying any of the foregoing. Forward-looking statements are notguarantees of future performance or events and are subject to a number of known and unknown risks,uncertainties and other factors that could cause actual results to differ materially from thoseexpressed, projected or implied by such forward-looking statements. Important risks, uncertaintiesand other factors include, but are not limited to, the Companys ability to obtain sufficientcapital and liquidity on favorable terms, to meet its operating, working capital and debt servicerequirements and to fund the growth of its business; the timely and successful development,production and market acceptance of new and enhanced products, services and technologies of theCompany; the Companys ability to attract, retain and motivate key personnel; the effects ofcompetition in the Companys current and anticipated markets; changes in the energy industry ingeneral and the natural gas and electricity markets in particular; the ability of the Company tosecure and maintain key contracts and relationships; general economic, market and businessconditions; and other factors, risks, and uncertainties described from time to time in theCompanys reports and filings with the Securities and Exchange Commission,

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Table of Contents

including but not limited to the Companys most recently filed Form 10-K and subsequentlyfiled Form 10-Qs and 8-Ks. Accordingly, there can be no assurance that the results expressed,projected or implied by any forward-looking statements will be achieved, and readers are cautionednot to place undue reliance on any forward-looking statements. The forward-looking statements inthis Report speak only as of the date hereof and are based on the current plans, goals, objectives,strategies, intentions, expectations and assumptions of, and the information currently availableto, management. The Company assumes no duty or obligation to update or revise any forward-lookingstatements for any reason, whether as the result of changes in expectations, new information,future events, conditions or circumstances or otherwise.

The information in this Report, including the exhibits attached hereto, is being furnishedpursuant to Item7.01 and shall not be deemed filed for purposes of Section18 of the SecuritiesExchange Act of 1934, as amended (the Exchange Act), or otherwise subject to the liabilities ofthat Section, and such information shall not be deemed incorporated by reference in any filingunder the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly setforth by specific reference in such a filing.

Item9.01 Financial Statements and Exhibits.

(c)Exhibits

99.1 Investment Presentation, dated September7, 2005, of MetretekTechnologies, Inc.

99.2 Press release of Metretek Technologies, Inc., issued September2,2005, announcing its presentation at the Roth Capital Partners New YorkConference.

99.3 Press release of Metretek Technologies, Inc., issued September2,2005, announcing the effects of Hurricane Katrina on its operations and itsprojected financial results.

3

Table of Contents

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, theRegistrant has duly caused this report to be signed on its behalf by the undersigned hereunto dulyauthorized.







METRETEK TECHNOLOGIES, INC.

By: /s/ W. Phillip Marcum

W. Phillip Marcum

Dated: September 2, 2005 President and Chief Executive Officer

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EX-99.12l15911aexv99w1.htmEX-99.1

EX-99.1

Exhibit 99.1

Roth Capital Partners

New York 2005 Conference

September 7, 2005

Cautionary Note Regarding Forward-Looking Statements

All forward-looking statements contained in this press release are made withinthe meaning of and under the safe harbor provisions of the Private SecuritiesLitigation Reform Act of 1995. Forward-looking statements are all statementsother than statements of historical facts, including but not limited to statementsregarding the business prospects for the Company and its subsidiaries and allother statements concerning the plans, intentions, expectations, projections,hopes, beliefs, objectives, goals and strategies of management, such asstatements about future earnings, revenues, and other future financial and non-financial items, performance or events. Forward-looking statements are not

guarantees of future performance or events and are subject to a number of knownand unknown risks, uncertainties and other factors that could cause actualresults to differ materially from those expressed, projected or implied, including,but not limited to, the Company's ability to obtain and maintain sufficient capitaland liquidity; the effects of litigation and claims; the timely and successfuldevelopment, production and market acceptance of new and enhanced products,services and technologies; the effects of competition; customer and industry

demand and preferences; the Company's ability to attract, retain and motivate keypersonnel; the ability of the Company to secure and maintain relationships;changes in the energy industry; general economic, market and businessconditions; and other factors identified from time to time in the Company'sreports and filings with the Securities and Exchange Commission. The forward-looking statements in this presentation speak only as of the date hereof . TheCompany assumes no duty or obligation to update or revise any forward-lookingstatements for any reason, whether as the result of changes in expectations, new

information, future events, conditions or circumstances or otherwise.

Operational Organization Chart

Operational Organization Chart

Accelerating Growth

Stable Foundation

Growth Opportunity

MM-1995-2 Equity

Oilfield Services

MEK Shareholder Data

Stockholders Equity (1)

Common Shares Outstanding (1)

Current Stock Price (2)

Current Market Cap

52 Week Stock Price Range

2005 EPS Guidance (3)

$ 13.7

12.3

$ 4.65

$ 57.0

$ 1.15--$ 5.35

$ .25 basic

As reported in June 30, 2005 Form 10Q.

As of September 1, 2005

Subject to effect of Hurricane Katrina-possible reduction of$.02 per basic share

(Amounts in millions, except per share data)

MEK--What's New?

Record Second Quarter Results

On Track to meet 2005 Earnings Guidance

Amex listing attained in August-Amex: MEK

Expansion of territories and product offeringcontinues to push growth acceleration inPowerSecure

Exceptional performance at Southern Flow

Restructuring of Florida Operations Completed

Consolidated Operating Performance 2005 (2)(guidance) 2004 (2)

2003 (2) 2002 (2) Revenues 42,000 35,177 36,474 26,453 Income-continuing operations (1), (4) 3,000 1,575 1,859(1,864) Avg. Basic Shares (3)

EPS-Basic (4) 12,200

$.25 9,531

$.03 6,043

$.11 6,077

($.45)

Income from continuing operations excludes "Deemed Distributions" on

Preferred Stock (n/a in 2005) and losses from discontinued operations

Amounts exclude discontinued operation

Actual Shares Outstanding at August 1, 2005 were 12,270,282

Subject to the effect of Hurricane Katrina-possible reduction in net income

of $250,000, or $..02 per basic share

(Amounts in Thousands)

Summary Operational Data-1st Half2005

Revenues 1st Half 2005-Actual$21,846,000 2nd Half-estReq. for Guidance $20,000,000 Income-ContinuingOperations

956,178 2,043,822

Average Shares

EPS-Basic 12.23 million

$.08 12.29 million

$.17

Points of Emphasis

Healthy Balance Sheet

Strong Earnings Guidance for 2005

Four energy related operating entities

Accelerating Growth Opportunity in 5 YearOld PowerSecure Subsidiary

Stable Foundation In Southern FlowSubsidiary

Strong Energy Market enhancing results of

Southern Flow and MM 1995-2

Strong, Accelerating Growth Engine

PowerSecure

Company is a leader in the emergingDistributed Generation market

Company has built a foundation foraccelerating growth and profitability

On Track to meet 2005 Sales Forecast of $23million

Seven State sales expansion program ontrack

Accelerating Growth

Historical Quarterly Revenues

Quarterly Revenues 0 6328000 1414000 1253000 1613000 1542000 3325000 1749000 3000000 4400000 6170000 3800000 4200000 4348000 5108000 4974000 3821000 9730000

PowerSecure Quarterly Revenues

Accelerating Growth

Fluctuations, but a Clear Growth Trend!

2001

2002

2003

2004

2005

Historical Annual Gross Margin (%) 2001 2002 2003 2004 Gross Margin (%) 0.211 0.236 0.286 0.306

PowerSecure Margin Growth

The Rate of Profitability is Accelerating!

Accelerating Growth

Shared Savings & Monitoring

Revenues Q1 2004 Q2 2004 Q3 2004 Q4 2004 Q1 2005 Q2 2005 Shared Savings & Monitoring 36712 67618 189217 220570 237374 296030

Accelerating Growth

What Does PowerSecure Do?

Provides onsite power generation facilities toindustrial and commercial customers

Generation used by customers for both "backup"power and peak-shaving

"Backup" power provides security and reliability

Peak-shaving allows savings in electricity costs

Investment cost is recovered from energy savings

Accelerating Growth

PowerSecure's Growth Opportunity

Market Expansion Opportunity

Geographic

70% of PowerSecure's inception-to-date revenuesconcentrated in two States

Operations now focused on seven additional States

Longer term targets entire continental US

Utility Alliances

Utility Alliances formed to market products

Revenues through 2004 mostly attributed to three utilityalliances

Six new alliances have been established-Projects with 5 ofthese have already been initiated

Substantial resources directed to the development of thesealliances

Accelerating Growth

PowerSecure's Growth Opportunity

National Accounts

Applications very appealing to nationalretail operators

Several successful programs underway

Sales effort focused on securingadditional national accounts

Market Expansion Opportunity

PowerSecure's Growth Opportunity

Product Expansion Opportunity

NexGear(r) (switchgear) products

High profit margin niches--Professional Services andMonitoring

Recurring Revenue Streams Including:

PowerSecure's "Shared Savings" business model

Customers receive highly desired backup power for free

Customers save through participation in peak-shaving

Accelerating Growth

PowerSecure's "Showcase" Customers

Accelerating Growth

Metretek, Inc. - Overview

Historical operations--automated data acquisition systems used by Energy Utilities

Growth opportunity: Telemetry products-

InvisiConnect(r) Solution and CNI Hardware

Over 340 units installed with 30 customers during the last twelve months

Growth Opportunity

What is the InvisiConnect(r) Solution?

Converts any remote data acquisition system towireless Internet Protocol (IP) transport viaCellular Public Carriers

Target Markets

Natural Gas & Electric Metering Systems

Water Measurement and Treatment Systems

Oil & Gas Measurement Systems

Metro Traffic Control Systems

Electronic Signs and Billboards

Vending Machine Monitoring

Electronic Commerce Systems

Growth Opportunity

Southern Flow - Overview

In Business for over 50 years

Oil Field Services-Gas Measurement

Customers-Natural Gas Producers

Predictable/Stable Performance andProfits

Growth tied to Natural Gas Prices

Stable Foundation

SFC Segment Profit Performance 1997 1999 2001 2003 2005 Est Segment Profit 976 1188 753 974 1187 1642 1953 1619 1940 2000 Avg. Gas $ 2.17 2.32 1.96 2.19 3.68 4 2.95 4.98 5.49 5.88

Stable Foundation

Equity Interest in MM 1995-2

Oil Field Services Sector-DJ Basin

Processes and disposes of formation waterproduced in association with oil and gas

Water disposed by injection into deep,subsurface formations via environmentallysound facilities

MEK's equity interest approximately 27%

Income offsets large portion of corporateoverhead

Summary

PowerSecure positioned for major growth in all itsproduct lines

Metretek, Inc. continues to serve its broad base of utilitycustomers, and develop its InvisiConnect(r) Suite ofProducts

Southern Flow continues to provide stable growth inearnings and cash flow

Equity Investment in MM 1995-2 an increasingcontributor to net income

Guidance for Strong Performance in 2005-EPS of $.25per basic share

MEK Shareholder Data

Stockholders Equity (1)

Common Shares Outstanding (1)

Current Stock Price (2)

Current Market Cap

52 Week Stock Price Range

2005 EPS Guidance (3)

$ 13.7

12.3

$ 4.65

$ 57.0

$ 1.15--$ 5.35

$ .25 basic

As reported in June 30, 2005 Form 10Q.

As of September 1, 2005

Subject to effect of Hurricane Katrina-possible reduction of$.02 per basic share

(Amounts in millions, except per share data)

More Details on the Business of Metretek and Its Subsidiaries:

http://www.metretek.com

EX-99.23l15911aexv99w2.htmEX-99.2

EX-99.2

Exhibit99.2

METRETEK TECHNOLOGIES TO SPEAK AT ROTH CAPITAL
PARTNERS NEW YORK CONFERENCE

DENVER Sept. 2, 2005 Metretek Technologies, Inc. (Amex: MEK) will appear at the RothCapital Partners New York Conference being held September 7-8, 2005 at the Westin New York at TimesSquare.

W. Phillip Marcum, chairman and CEO of Metretek Technologies, will discuss the Companys currentoperations and business initiatives. He will be joined by Brad Gabbard, CFO, and Sidney Hinton,president and CEO of the Companys PowerSecure subsidiary.

Metreteks presentation is scheduled to begin at 5:00 p.m. EDT on Wednesday, September 7. A copyof the slide presentation to be used in the companys presentation will be available prior to thepresentation at www.metretek.com.

Metretek Technologies, Inc. through its subsidiaries Southern Flow Companies, Inc.;PowerSecure, Inc.; and Metretek, Incorporated (Metretek Florida) is a diversified providerof energy measurement products, services and data management systems to industrial and commercialusers and suppliers of natural gas and electricity.

The Roth Capital Partners New York Conference, the largest event of its kind in the nation foremerging growth companies, provides a concentrated forum where institutional investors can meet theexecutives of growth companies selected by Roth Capitals research team.

1

EX-99.34l15911aexv99w3.htmEX-99.3

EX-99.3

Exhibit99.3

Contacts:

W. Phillip Marcum

Philip Bourdillon/Gene Heller

Chairman and CEO

Silverman Heller Associates

303-785-8080

310-208-2550

METRETEK TECHNOLOGIES SUBSIDIARY REPORTS
MINOR DAMAGE FROM HURRICANE KATRINA

DENVER Sept. 2, 2005 Metretek Technologies, Inc. (Amex: MEK) said today that itsSouthern Flow subsidiary has reported minor damage from Hurricane Katrina to its Belle Chassedivision offices located in the New Orleans metro area. All Belle Chase Division employees havebeen accounted for and the Company is actively pursuing efforts to assist those employees that haveexperienced personal losses and hardship.

The Belle Chasse division provides services to customers with production facilities that were inthe direct path of Hurricane Katrina. The Company is in the process of assessing the effects, bothshort- and long-term, on its operations that may occur as a result of customers curtailing servicespending repair of damaged production facilities.

Based on currently available information, and with the expectation that normal operations in thisdivision will be restored by early 2006, the Company believes that the effect of Hurricane Katrinaon its consolidated operations will not be significant, with a worst-case estimate of a reductionof approximately $250,000 in net income, or approximately $0.02 per basic share, for the remainderof 2005. However, details remain sketchy and a fuller assessment is not expected to be completedfor at least several weeks.

Absent any effects from Hurricane Katrina, the Company is reaffirming its previously announcedexpectation that 2005 revenues will be in the range of $41million to $42million, with net income(from continuing operations) of approximately $3.0million, or approximately $0.25 per basic share.

Metretek Technologies, Inc. through its subsidiaries Southern Flow Companies, Inc.;PowerSecure, Inc.; and Metretek, Incorporated (Metretek Florida) is a diversified providerof energy measurement products, services and data management systems to industrial and commercialusers and suppliers of natural gas and electricity.

All forward-looking statements contained in this release, including statements concerning thelikely worst-case effect of Hurricane Katrina on the Companys operations, as well as the timing ofthe Belle Chasse divisions return to normal operations, are made within the meaning of andpursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.Forward-looking statements are all statements other than statements of historical facts, includingstatements concerning the plans, intentions, expectations, projections, hopes, beliefs, objectives,goals and strategies of management and statements of assumptions underlying the foregoing, and areoften, but not always, identified by words such as may, expect, will, believe,optimistic, anticipate and similar terminology. Forward-looking statements are not guaranteesof future performance or events and are subject to a number of known and unknown risks,uncertainties and other factors that could cause actual results to differ materially from thoseexpressed, projected or implied by such forward-looking statements, including, but not limited to,PowerSecures ability to develop and market its products and services and to deliver anticipatedbenefits to its customers; changes in the energy industry in general and the natural gas

2

and electricity markets in particular; the effects of competition; the ability of PowerSecure tosecure and maintain key contracts and relationships; general economic, market and businessconditions; and other factors, risks and uncertainties described from time to time in the Companysreports and filings with the Securities and Exchange Commission, including but not limited to theCompanys most recent Form 10-K and Form 10-Q and subsequently filed Forms 8-K. Accordingly, therecan be no assurance that the results expressed, projected or implied by any forward-lookingstatements will be achieved, and readers are cautioned not to place undue reliance on anyforward-looking statements. The forward-looking statements in this press release speak only as ofthe date hereof and are based on the current plans, goals, objectives, strategies, intentions,expectations and assumptions of, and the information currently available to, management. TheCompany assumes no duty or obligation to update or revise any forward-looking statements for anyreason, whether as the result of changes in expectations, new information, future events,conditions or circumstances or otherwise.

# # #

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