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Aaron Spatz is the writer of SEC Live Filings Digest, detailing the news of companies trading on U.S. stock exchanges. The Filings Digest is but one component of the greater website SEC Live, which specializes in making SEC filings easy to read, research, navigate, and much more.
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  • World Energy Solutions Revenue Rises 9% 0 comments
    Mar 31, 2014 9:52 AM | about stocks: XWES

    Originally published at

    World Energy Solutions, Inc. (NASDAQ:XWES) announced its fourth quarter and full year financial results for fiscal year 2013, reporting annual revenues that increased 9% from a year ago. The energy management services firm posted quarterly revenues of $9.3M, down 8% from the year-ago quarter, with energy efficiency services revenue falling 34%, weighing down improvements in other areas. Annual revenues rose 9% to $34.7M, with $28.9M of the revenue attributed to an improving energy procurement segment. The company's gross margin for the quarter improved from 66% to 71% while annual gross margin increased from 68% to 73%. World Energy posted a quarterly profit of $0.9M and $0.07 per share while sustaining a net loss of $2.3M and $0.19 per share. CEO Phil Adams commented that the company saw strong growth, though efficiency was below expectations due to some restructuring moves, and looks forward to the company driving revenue and earnings growth in fiscal 2014.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Stocks: XWES
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