SPI Solar's gross profit grows to USD1.4m in Q3 2011
Nov 11, 2011 - US photovoltaic solar developer SPI Solar (OTC:SOPW) announced on Thursday its financial results for the third quarter of 2011 showing a gross profit of USD 1.4 million (EUR 1.02m) versus USD 555,000 for the respective period of 2010.
The company's gross profit for the seconed quarter of 2011 was USD 1.3 million.
SPI Solar's sales were sharply up in July-September 2011 to USD 22.1 million from USD 4 million a year earlier.
In the second quarter of 2011 the company generated sales of USD 14.9 million.
Net loss narrowed to USD 1.3 million in the three months to September 2011 from USD 2.6 million last year.
For Janury-September 2011, the company reported a net loss of USD 5.4 million versus USD 9.1 million in the same period of 2010. Sales rose to USD 42.6 million from USD 20.8 million.