EnerNOC plummets on wider Q4 loss
EnerNOC, Inc. (Nasdaq: ENOC) shares are plummeting after the energy demand management company reported a fourth-quarter net loss of $9 million, or $0.48 per share, down from a net loss of $4.1 million, or $1.07 per share, a year earlier. Wall Street analysts expected a loss of $0.30 per share.
Quarterly revenue for the three months ended Dec. 31 rose to $19.7 million, from $5.9 million during the prior-year period. Analysts, on average, projected revenue of $19 million.
“We ended 2007 on a high note as we experienced continued growth in our existing markets and began to build momentum in newly-formed capacity markets,” CEO Tim Healy said in a statement. “We were able to achieve scale beyond our own estimates, produce record revenues, and solidify our position as a leader in the commercial, industrial and institutional demand response market.”
In afternoon trading, ENOC shares are plunging 29.18%, or $7.44, at $18.06. Over the last 52 weeks, shares have ranged from $17.60 to $50.50.
