Pattern has Q4 loss, 2013 profit

Pattern's Gulf Wind project in Texas.

Pattern's Gulf Wind project in Texas.

Wind developer Pattern Energy had a fourth quarter $19.4m net loss, or 17 cents per Class A share, due primarily to unrealized losses attributable to its energy hedge.

Net loss a year earlier was $4.4m, when the company was not publicly traded.

Sales during the period were $41.7m versus $34.3m a year earlier.

For 2013, Pattern had a $10m net profit compared with a $13.3m net loss a year earlier. Revenue increased to $201.5m including $173.2m from electricity sales, versus $114m and $101.8m from power sales a year earlier.

“This was a tremendous year for Pattern Energy that included our successful IPO – the first US listing of a wind power company – the growth of our portfolio to ten projects totaling Log in to read complete article.

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