February 17, 2011
World Energy Profits Rise
Worcester's World Energy Solutions turned a quarterly profit for the second time ever in the last quarter of 2010.
The energy management services company reported a net income of $381,779 for the fourth quarter, compared with a net loss of $236,639 in the same period in 2009.
World Energy had its first profitable quarter in the third quarter of 2010, when its net income was $147,227.
The company also reported record revenue of $4.9 million for the quarter, up 40 percent from the fourth quarter of 2009.
Annual revenue also grew 23 percent to $18 million. Over the year, the company lost $99,087, compared with a $2.3 million loss in 2009.
WBJ Web Partners
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