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EnerNOC Reports Record Results For Third Quarter Of 2013

Stocks in this article: ENOC

– Company Posts Record Revenue of $278.5 Million, Up 56% Year-Over-Year –

– Company Posts Record Adjusted EBITDA of $123.2 Million, Up 78% Year-Over-Year –

– Company Raises Midpoint of Guidance for Revenue, Adjusted EBITDA and Earnings –

BOSTON, Nov. 7, 2013 (GLOBE NEWSWIRE) --EnerNOC, Inc. (Nasdaq:ENOC), a leading provider of energy intelligence software, today announced record results for the third quarter of 2013 and raised the midpoint of its full year guidance.

Summary Financial Results

In Thousands, Except Per Share Amounts Q3 2013 Q3 2012 % Change Q3 YTD Q3 YTD % Change
        2013 2012  
Revenue $278,473 $177,947 56.5% $347,476 $235,670 47.4%
Net Income            
 GAAP $106,857 $60,348 77.1% $41,969 $3,499 1,099.5%
 Non-GAAP 1 $112,381 $65,497 71.6% $59,061 $18,955 211.6%
Diluted Net Income Per Share            
 GAAP $3.70 $2.21 67.4% $1.47 $0.13 1,030.8%
 Non-GAAP 1 $3.90 $2.40 62.5% $2.06 $0.70 194.3%
Cash Flow From Operations $21,295 $8,625 146.9% $33,459 $12,866 160.1%
Free Cash Flow 1 $15,556 $6,007 159.0% $534 $1,114 (52.1%)
Adjusted EBITDA 1 $123,235 $69,080 78.4% $82,341 $32,345 154.6%
1Refer to "Statement of Use of Non-GAAP Measures" for non-GAAP definitions and refer to the financial schedules attached to this press release for a reconciliation of non-GAAP financial measures to the most directly comparable GAAP financial measures.

"We are excited to be reporting record third quarter results highlighted by strong growth in both revenues and earnings," said Tim Healy, Chairman and Chief Executive Officer of EnerNOC, Inc. "Based on the overall strength of the business and the confidence we have in our outlook, we are pleased to be raising the midpoint of our full year guidance. We are focused on delivering the best year in the Company's history and extending our leadership position in the rapidly growing market for energy intelligence software and solutions."

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