PowerSecure reports that sales, profit fell

STAFF WRITERMay 7, 2009 

— PowerSecure International reported a first-quarter loss of 7 cents per share as sales fell 41 percent in a difficult economy.

The energy company's customers cut spending to $19.7 million at a critical time. PowerSecure is trying to gain new business to offset the expiration of its biggest contract, with Publix Supermarkets.

In the first quarter a year ago, the company had reported earnings of 11 cents per share.

PowerSecure installs and operates emergency backup power generators for grocery stores and other customers. The company is hustling for new business as its Publix contracts run out.

PowerSecure employs about 100 in Wake Forest and 170 in Raleigh.

PowerSecure issued earnings after the close of stock-market trading. Its stock is down 60 percent in the past year and fell 13 cents Thursday, closing at $4.69.

john.murawski@newsobserver.com or 919-829-8932.

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