EnerNOC stock shares fall on earnings report
Shares of EnerNOC Inc. fell 15.3 percent in morning trading today after the company reported a larger fourth-quarter loss than some Wall Street analysts had expected.
Boston-based EnerNOC, which uses technology to help power-grids manage their electricity supply during peak demand periods, said it lost $9 million, or 48 cents a share, for the fourth quarter.
Bloomberg News reported that five analysts that it had surveyed had estimated a loss of 29 cents a share.
In the fourth quarter from a year ago, EnerNOC lost $4.1 million.
Revenues for the fourth-quarter of 2007 were $19.7 million, up 234 percent from the same quarter a year ago, EnerNOC said.
At one point during morning trading on the Nasdaq Stock Market, EnerNOC shares were down $3.91 to $21.59.
(By Chris Reidy, Globe staff)
