EnerNOC (ENOC) Reports Narrower Loss, Expects Profits In 2010

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06:48:20 pm on February 18, 2009

EnerNOC (ENOC), energy efficiency extraordinaire looking for it’s first profitable year (and still looking), posted a loss that was considerably smaller than what analysts had expected but greater than the year ago period after the bell today.  The company posted a non GAAP loss of .45/share which was .21/share better than expectations on revenues of $19.7 (flat from a year ago)

“The fourth quarter marked a strong conclusion to an outstanding 2008, a year in which more and more organizations identified energy savings as a top priority. We nearly doubled our megawatts under management and more than doubled our customer base in 2008 relative to 2007,” said Tim Healy, EnerNOC’s Chairman and CEO. “We believe that we are well positioned to generate positive cash flow from operations in the second half of 2009, and to deliver positive earnings for the year ending December 31, 2010.”

EnerNOC’s technologies help manage power usage and reduce costs, typically used at utilities and grid operators looking to control peak demand.  As an example, EnerNOC’s software can automatically turn off lights or AC when demand is tight and prices are high, warning the end user ahead of time.

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