World Energy Solutions Results Top Estimate; Stock Up 8%

(RTTNews) - World Energy Solutions Inc (XWES) Friday reported second-quarter net earnings of $305 thousand or $0.02 per share, compared with a loss of $1.7 million or $0.14 per share a year ago.

Worcester, Massachusetts-based World Energy posted quarterly revenues of $9.4 million, up 18% from $7.9 million last year.

Analysts polled by Thomson Reuters projected a loss of $0.05 per share on revenues of $8.6 million for the quarter.

Gross margins in the quarter rose to 77 from 73% a year ago.

"Based on our results through the first half of the year, a strong sales pipeline, and continued improvement in sales and operational performance, we are again raising our view on EBITDA growth. We now forecast we will double last year's EBITDA and reach GAAP profitability for the full year," the company said.

Shares of the company are trading at $3.99, up $0.30 or 8.13%, on the Nasdaq.