UPDATE 1-Comverge posts wider-than-expected Q1 loss
* Q1 shr loss $0.41 vs est loss of $0.37
* Q1 rev up 16 pct, but misses estimates
* Backs FY rev view of $125 mln to $137 mln
May 10 (Reuters) - Comverge Inc COMV.O reported a wider-than-expected first-quarter loss, but the energy efficiency company stood by its full-year revenue view.
For the latest first quarter, the company reported a loss of $10.2 million, or 41 cents a share, compared with a loss of $9.1 million, or 43 cents a share, last year.
Revenue rose 16 percent to $13.4 million. Total cost of revenue for the quarter was up 21 percent.
Analysts were looking for a loss of 37 cents a share, on revenue of about $16 million, according to Thomson Reuters I/B/E/S.
Comverge also backed its full-year revenue view of $125 million to $137 million. Analysts are currently looking for revenue of $134.9 million for the period.
Last week, larger rival EnerNOC Inc (ENOC.O) reported a narrower-than-expected adjusted loss and increased its full-year revenue and profit view. [ID:nWNAB6780]
Both companies' demand-response businesses pay customers to reduce energy consumption during peak hours when utility supplies are stretched.
Comverge shares, which have risen nearly 50 percent from a May 2009 year-low, closed at $11.09 Friday on Nasdaq. (Reporting by Adveith Nair in Bangalore; Editing by Unnikrishnan Nair)
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