February 11, 2010 / 9:43 PM / 7 years ago

UPDATE 1-EnerNOC loss widens, outlook tops Wall St view

2 Min Read

* Full-year net loss narrows to $6.8 mln vs. $36.6 mln

* Q4 revenue rises to $26.7 mln vs. year-ago $19.67 mln

SAN FRANCISCO, Feb 11 (Reuters) - Energy monitoring and efficiency services company EnerNOC Inc (ENOC.O) posted a wider quarterly loss on Thursday but its outlook for 2010 topped Wall Street estimates.

The net loss for the quarter deepened to $15.2 million, or 64 cents a share, compared with a loss of $12.2 million, or 61 cents a share, a year ago.

For the full year, the company narrowed its loss to $6.8 million from $36.6 million in the previous year.

Boston-based EnerNOC is a "demand-response" company that pays customers to reduce energy consumption during peak hours when utility supplies are stretched.

EnerNOC, in turn, gets paid from utilities for managing a certain amount of capacity on tits network and lowering the load on the electrical system.

Revenue rose to $26.7 million in the fourth quarter from $19.67 million in the same period a year ago.

The company's revenue for 2009 rose 80 percent to $190.6 million.

Wall Street analysts estimated that the company would post a loss per share of 65 cents on a revenue view of $24.67 million, according to Thomson Reuters I/B/E/S.

The company said it saw non-GAAP earnings per share in the range of 94 cents to $1.04 for 2010, with revenue coming in between $255 million and $268 million. On a diluted basis, the company expects to earn 24 to 34 cents per share.

Analysts expect EnerNOC to earn 28 cents per share on revenue of $257.84 million for 2010, according to Thomson Reuters I/B/E/S. (Reporting by Poornima Gupta, editing by Matthew Lewis)

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