May 4, 2011
Profits On The Upswing For Ameresco
By Christina Davis
Framingham-based Ameresco reported that its first-quarter profit increased by more than 313 percent year-over-year.
Net income at the energy efficiency company increased from $1.3 million in the first quarter of 2010 to $5.3 million in the first quarter of 2011.
The increase in profit was driven largely by an overall increase in revenues, which jumped 39 percent to $146.4 million.
The company reported that it had a total construction backlog of $1.2 billion as of March 31.
Ameresco also confirmed its earnings guidance for the year, predicting that it will earn a profit in the range of $35 million to $37 million.
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