November 4, 2010
World Energy Records First Profit As A Public Firm
By Matthew L. Brown
Worcester-based World Energy Solutions turned a $147,227 profit in the third quarter, the company's first quarterly profit since going public in 2006.
Revenue grew 34 percent to $4.65 million.
In the same period a year ago, the company reported a loss of $636,702.
As of the end of the quarter, the company had cash and equivalents of $2.1 million and no bank debt.
The online retail energy broker said it has experienced growth in the Midwest and has increased its wholesale customer base by 27 percent.
WBJ Web Partners
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