Investors of Nighthawk Systems Inc. (OTCBB: NIHK) had a pleasant wake-up call when share prices for the company leapt 13.86 percent to $3.78 a share on market open this morning.
It looks like the sudden rise can be attributed to this morning’s news that Nighthawk just received its largest order in the company’s history. According to this morning’s statement, Nighthawk recently received an order for a “large number” of the company’s CEO700 remote disconnect devices (the statement did not release the exact number) from Washington-based energy company, Avista Corp.
According to Nighthawk’s Web site, its CEO700 product is “a completely integrated wireless remote” that allows users to connect and disconnect power to residential electric meters instantly.
“Created to save thousands of dollars annually for our customers, as well as provide the convenience of remote control from any touchtone phone or by computer modem using our user-friendly software, the CEO700 can be programmed to work on any public or private paging network,” the Web site reads.
It’s easy to see why a product like this would be attractive to any power company. Hunting for hard-to-reach electric meters can be a waste of time for electricians and utilities personal, and faulty or broken meters can be dangerous for personnel to get too close to. Naturally, a device that could disconnect and reconnect an electric meter at the touch of a switch would be a huge boon to the industry.
Of course, the CEO700 is just one of the products Nighthawk manufactures. The company specializes in providing the market with “intelligent wireless” power control products that allow for the simultaneous activation and deactivation of electric assets.
Nighthawk CEO Douglas Saathoff was thrilled by the news.
“I’m obviously very excited to receive this order from Avista,” Saathoff said in the statement. “Just over a month ago, we had announced that we had received the largest initial order for CEO700’s in our history from the town of Smyrna, Delaware, and now we have received the largest single order in company history.
“Demand for our products continues to grow throughout the electric utility industry,” Saathoff continued. “We are coming off of the largest revenue quarter in the last four years because of that. We look forward to continuing that moment.”
Nighthawk representatives could not be reached for comment.
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