May 3, 2012
World Energy Revenues Up 61 Percent
Worcester-based World Energy Solutions Inc. raised its quarterly revenue 61 percent year-over-year to $7.9 million in the first quarter of 2012.
The company’s profits rose to $350,000, up from $250,000 in the first quarter of 2011. It said its total backlog also rose 49 percent to $37.5 million.
World Energy attributed its results partly to the successful integration of businesses it acquired in 2011. In the second half of last year, the company spent more than $17 million to buy three energy management and procurement firms in Texas, Pennsylvania and Connecticut.
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