Clean Energy Fuels (CLNE) Misses On Revenues, But Back In The Black

Posted by Tate Dwinnell | # |
08:37:14 pm on November 9, 2009

Clean Energy Fuels (CLNE) reported mixed results after the bell but managed to get back in the black for the first time in a few years, reporting a non GAAP .01/share profit.  However, revenues were shy of analyst estimates at $31.2 million.

CEO Andrew Littlefair commented on the company’s future:

“As the economic and environmental benefits of natural gas are becoming more widely understood and well publicized, we have expanded our discussions to include a number of large fleet operators and corporations regarding the conversion of their fleets to natural gas.  On the strategic front, we recently announced our acquisition of BAF Technologies, Inc., a leading provider of natural gas vehicle conversions, which will enable us to leverage our industry expertise and help bring natural gas vehicles to the light-duty market. The NAT GAS Act also continues to garner strong bipartisan support and we remain optimistic that this will be passed in the near future.”

Shares of CLNE are off about 5% in after hours trading.

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