US Solar Power Inc swings to loss in Q3 2010

(ADPnews) - Nov 17, 2010 - US-based Solar Power Inc (OTC:SOPW) turned to a net loss of USD 2.6 million (EUR 1.9m) in the third quarter of 2010 from a USD-1.7-million net profit a year ago, due to delayed funds from its Aerojet project in California.

Loss per share amounted to USD 0.05, against earnings per share of USD 0.05, the company said in a statement on Monday.

Third-quarter revenue dropped to USD 4 million from USD 22.3 million.

The photovoltaic (PV) module maker posted a deeper net loss for the nine months to September of USD 9.1 million, compared with USD 2.6 million a year earlier.

Revenues declined to USD 20.8 million from USD 38.5 million.

(USD 1.0 = EUR 0.735)

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