Ameresco Revenues, Profits Surge
Ameresco Inc., the Framingham-based energy efficiency contractor, reported a 47 percent increase in profit to $12 million during the third quarter.
The company's revenues also shot up 45 percent to $191.9 million. Strong market demand for energy solutions was credited for the increases.
Last year during the third quarter the company made $8.2 million on $132.3 million in revenues.
Year to date, revenues are up 50 percent from last year to $438.9 million and income has more than doubled to $21 million. The company expects to end of the year with around $590 million in revenues and $27.5 million in profit.
The company purchased Quantum Energy Inc. of Washington in August and signed a handful of government contracts, including one for the U.S. Navy to improve energy efficiency at two locations in Italy.
This summer Ameresco held an initial public offering for its stock, making the company public.
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