World Energy posts gains in Q2
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Worcester-based energy management services firm World Energy Solutions reported increased revenue and earnings for the second quarter, the company said today.
For the quarter ending June 30, revenue grew 18 percent to $9.4 million compared to the same period in 2013. The boost in revenue was seen across its energy procurement and energy efficiency segments, it said.
Energy procurement revenue rose 14 percent, reflecting increased transaction activity from auction and mid-market customers. Energy efficiency services performed even better, growing 47 percent as the company’s re-staffed Massachusetts sales team gained traction in the market and delivered more projects and a higher average project size during the quarter, according to World Energy Solutions.
Net income for the period was $300,000 or 2 cents per share, compared to a loss of $1.7 million or 14 cents per share for the second quarter last year.
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