Ameresco swings to USD-1.8m loss in Q2 2013

Aug 8, 2013 - US energy efficiency and renewables specialist Ameresco Inc (NYSE:AMRC) turned to an April-June net loss of USD 1.8 million (EUR 1.4m) from a USD-4.8-million profit a year ago after a 23% drop in sales.

Diluted loss per share was USD 0.04, versus earnings per share of USD 0.10 in the second quarter of 2012. President and CEO George P Sakellaris said that the company expected to turn profitable in the second half of the year, when sales are also seen to improve. The company guided for 2013 net profit of between USD 18 million and USD 21 million on revenues of USD 620 million-640 million.

Ameresco’s adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) fell to USD 3.3 million from USD 13.9 million a year back.

The company reported second-quarter 2013 revenues of USD 126.3 million, compared with USD 164.1 million. The result included USD 80 million in revenue generated from backlog.

At the end of June Ameresco had a construction backlog of USD 1.4 billion.

(USD 1 = EUR 0.749)

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