ENSV - Enservco sees 71% boost in Q4 revenues delays 10-K filing

Enservco (NYSE:ENSV) +6.1% pre-market after saying it will delay the filing of its 2021 Form 10-K to restate financial statements on three 10-Qs for 2021 to adjust for its utilization of certain deferred tax liabilities in 2021. The company said the restatements are not related to operating matters and will not affect its reported revenue or operating expenses. Enservco also said it generated a 71% increase Q4 revenues compared to the year-ago quarter, citing "gains across all service offerings based on increased customer activity driven by higher commodity prices and the addition of new customers." Enservco looks undervalued, and its business should be worth "maybe about $15M," Gold Panda wrote in a bearish analysis posted in late March on Seeking Alpha.

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Enservco sees 71% boost in Q4 revenues, delays 10-K filing