Shares tumble after EnerNOC posts a loss

Shares of EnerNOC Inc. tumbled today after the Boston company reported a much greater fourth-quarter loss than Wall Street had expected.

EnerNOC shares fell 32 percent, to $17.35, in afternoon trading.

The company, which makes products that allow utilities and electric grid operators to regulate supply and demand, lost $9 million, or 48 cents per share. That compares with a loss of $4.1 million, or $1.07 per share in the year-earlier period, when the company had almost 80 percent fewer outstanding shares.

Analysts had forecast a loss of 30 cents per share, on average, according to a Thomson Financial survey.

EnerNOC’s revenue more than tripled during the quarter to $19.7 million as it added customers and increased megawatts of capacity under management. However, costs outpaced the sharp revenue growth as the company added employees and posted higher stock-compensation expenses.

For the full year, EnerNOC’s loss widened to $23.6 million, or $1.80 per share, from $5.8 million, or $1.60 per share.
(AP)