Ameresco revenues dip, losses deepen
First-quarter revenue fell 9 percent at Framingham-based Ameresco, the company said Thursday.
The energy efficiency and renewable energy company announced first-quarter sales of $100.7 million, down from $110.1 million last year.
Ameresco’s first-quarter operating loss also climbed from $2.1 million last year to $6.8 million this year. Its net loss (which include ancillary items not related to normal business activities) was $8.3 million, or 18 cents per share, up from $1.9 million, 4 cents per share, last year.
“We experienced some positives in the first quarter,” George P. Sakellaris, president and CEO, said in a statement. “Revenues were ahead of our expectations and contracted backlog increased 15 percent year-over-year. While the backlog improvement was encouraging, conversion of awarded projects continues to be challenging. We remain on track to deliver 2014 financial results within our guidance.”
The company said it continues to anticipate 2014 revenues in the $560 to $600 million range.
WBJ Web Partners
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