As Worcester’s World Energy Solutions Inc.‘s third quarter revenue skyrocketed, its net income swung to a $1.8 million loss compared to earnings of $12,361 for the same period a year ago.
The company’s operating loss for the quarter was just over $3 million. The company blamed higher operating expenses for its net loss.
The company, which is an online energy and energy products exchange, reported third quarter revenue of $2.6 million, a 59 percent increase over the third quarter of 2006.
The company said it was working with a backlog of $7.6 million as of the end of the quarter, and a contracted backlog of $6.2 million. World Energy also said it had increased its client base, its number of partners and its number of employees, of which there are now 56.
