Ameresco Q4 Profit Down, Sees 2014 Revenue Below View; Stock Down

(RTTNews) - Ameresco Inc. (AMRC), a energy efficiency and renewable energy company, said that its fourth-quarter of 2013 net income decreased to $1.6 million from $5.1 million in 2012. Quarterly net income per share was $0.03, compared to $0.11 for 2012.

Operating income slipped to $3.0 million for 2013 from $6.3 million in 2012.

Revenues for the fourth quarter increased 12% to $176.1 million for 2013 from $156.6 million in 2012.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.21 per share and revenues of $175.33 million for the quarter. Analysts' estimates typically exclude special items.

Ameresco expects to earn total revenue in the range of $560 million to $600 million in 2014. Analysts expect the company to report revenues of $608.33 million.

The company also expects net income for 2014 to be in the range of $7 million to $12 million.

"We expect challenging market conditions to continue in 2014. Revenues are expected to be consistent with 2013, while operating efficiency measures should improve profitability" said George Sakellaris, President and Chief Executive Officer.

AMRC is currently trading at $8.15, down $1.73 or 17.51%.