Clean Energy 3rd-quarter loss widens

In trading before the results were released, Clean Energy shares jumped $1.12, or 25 percent, to $5.65. In extended trading after the report, they fell 16 cents, or 2.8 percent, to $5.49.

The company posted a net loss of $10.6 million, or 24 cents per share, compared with a net loss of $1.5 million, or 3 cents per share, a year earlier.

Analysts surveyed by Thomson Reuters expected the company to report a loss of 22 cents per share.

Excluding stock-based compensation charges, the company said it would have lost 18 cents per share, compared to break-even after excluding items in the year-earlier quarter of 2007.

Revenue rose 21 percent to $35.3 million from $29.2 million, but still fell short of analysts' forecast of $36.3 million.

The company had previously disclosed that it took a $6 million loss in the third quarter on futures contracts that it closed out in connection with the portion of a failed fixed-price bid. It recorded a $5.7 million gain on the same contracts in the second quarter.

Clean Energy sells natural gas for trucks, taxis and other vehicles, including fleets.