LOS ANGELES May 8 Clean Energy Fuels Corp
, which provides natural gas fuel for transportation, on
Wednesday reported a narrower quarterly net loss as deliveries
rose 14 percent.
The first-quarter net loss was $3.9 million, or 4 cents per
share, compared with a loss of $31.9 million, or 37 cents per
share, a year ago.
Excluding items, the company earned 3 cents a share. On that
basis, Wall Street analysts, on average, had expected a loss of
7 cents a share, according to Thomson Reuters I/B/E/S.
Revenue rose 26 percent to $93 million, helped by
recognition of revenue from the volumetric excise tax credit,
which was reinstated retroactive to 2012 in early January, for
both the first quarters of 2012 and 2013.
Shares of Clean Energy Fuels, which is backed by Texas oil
billionaire T. Boone Pickens, closed at $13.76 on the Nasdaq.