Shares of PowerSecure International rose to their highest point in more than five years Tuesday after the company announced it boosted its revenue backlog by $60 million.
The Wake Forest-based energy services company's stock closed at $13.95, up more than 12 percent on the day.
PowerSecure employs about 700 in Wake Forest, Raleigh, Morrisville and elsewhere. It provides services in emergency backup generators, energy-efficient lighting, solar panel installation and utility maintenance crew contracting.
PowerSecure's revenue backlog, representing a one-third expansion in annual sales, is an indication of future sales. Most of the backlog announced Tuesday will be realized this year, the company said.
About $24 million of the backlog comes from contracts PowerSecure acquired in February and about $36 million is from new business. PowerSecure will provide further the details May 8 during its first-quarter earnings release.