EnerNOC reports loss, raises guidance

EnerNOC Inc., a Boston company that helps utilities manage electricity consumption, reported that revenues for the first quarter were $18.4 million, compared with $18.6 million for the same period in 2008, a decrease of 1 percent.

The GAAP net loss for the first quarter was $12.5 million, or $0.63 per basic and diluted share, compared to a net loss of $11.0 million, or $0.57 per basic and diluted share, for the same period in 2008, the company said.

But the company also noted that it signed contracts with seven utilities during the first quarter.

EnerNOC chairman and chief executive Tim Healy said in a statement: “The first quarter marked another period of high growth for EnerNOC. We experienced the highest quarterly megawatt additions in our company’s history. These record megawatt additions and high-profile utility contract wins are indicative of continued strong demand for EnerNOC’s capital-efficient demand response and energy efficiency applications aimed at helping businesses and institutions manage and reduce energy costs.”

Meanwhile, in providing guidance for full-year results, the company said it expects total revenue of $160 million to $172 million, compared with previous guidance of $155 to $170 million.

The company added that it now expects a GAAP net loss per basic and diluted share of $0.93 to $1.04; previous guidance was a GAAP net loss of $1.00 to $1.20.

To read the company's press release, please click here.
(By Chris Reidy, Globe staff)