CORRECTED - CORRECTED-UPDATE 1-Clean Energy posts wider-than-expected Q3 los

Mon Nov 9, 2009 5:59pm EST
 
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(Corrects paragraph 6 to show the company posted an adjusted profit, not an adjusted loss)

* Q3 loss $0.31/shr vs est. loss $0.30/shr * Rev falls 8 pct

* Shares down 4 pct after-market

Nov 9 (Reuters) - Natural gas provider Clean Energy Fuels Corp (CLNE.O) reported a wider-than-expected quarterly loss, as a fall in natural gas prices weighed on revenue.

However, gasoline gallon equivalents delivered during the quarter rose 58 percent over last year. For the third quarter, the company reported a loss of $18.5 million, or 31 cents a share, compared with a loss of $12.1 million, or 27 cents a share, last year.

Revenue at the Seal Beach, California-based company fell 8 percent to $31.2 million.

Analysts on average expected a loss of 30 cents a share on revenue of $35 million, according to Reuters Estimates.

Excluding items, the company earned 1 cent per share.

Shares of Clean Energy were down 4 percent at $12.32 in trading after the bell. They closed at $12.84 Monday on Nasdaq. (Reporting by Thyagaraju Adinarayan in Bangalore; Editing by Unnikrishnan Nair)

 

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