PowerSecure International, the Wake Forest energy services firm, reported first-quarter revenue today that beat analysts' expectations.
The company reported $23.7 million in revenue for the three-month period ending March 31, up 16 percent from the same period a year ago.
The consensus among Wall Street analysts was $21.7 million.
The company reported a loss of 5 cents per diluted share, compared to income of 4 cents per share in the first quarter of last year.
That was slightly less than a loss of 6 cents expected by analysts who cover the company.
PowerSecure operates emergency backup diesel generators as alternate power sources for customers. The company is also branching out to energy-efficient illumination that uses light-emitting diodes, or glowing chips that are commonly known as LED lights.
Sales of the company's primary smart-grid products increased 16 percent in the first quarter.
"The investments we made in 2010 to broaden our product offerings and customer base provide us with a strong set of growth catalysts, and these initiatives are beginning to enhance our top-line results," CEO Sidney Hinton said in a release.
PowerSecure shares closed up one cent today at $7.31. The stock is down 33 percent over the past year.