Higher revenue lifts Ameresco profit
FRAMINGHAM — Ameresco Inc., which sells and installs solar and other renewable energy products, said yesterday that first-quarter profit soared on higher revenue.
Ameresco said higher energy costs should raise demand for its products and services. Net income rose to $5.3 million, or 12 cents per share, from $1.3 million, or 3 cents per share, a year ago. Revenue grew 39 percent to $146.4 million.
Analysts expected the company to earn 11 cents per share on revenue of $142.2 million.
Ameresco also reaffirmed its forecast of 2011 net income of between 75 and 79 cents per share on revenue of $690 million to $705 million.
Analysts expect 78 cents per share and $701.5 million in revenue.