Energy
Some Good News for Solar Industry? (SPIR, FSLR, SOLF)
Published:
Last Updated:
Spire Corporation (NASDAQ:SPIR) is a small-cap supplier of turnkey solar factories and capital equipment. Its products are used to manufacture PV modules and cells. The company reported its fourth quarter and full-year results after the market closed yesterday, and the news was mostly positive. After the beating that other solar makers such as First Solar, Inc. (NASDAQ:FSLR) and Solarfun Power Holdings Co. Ltd. (NASDAQ:SOLF) have taken, any good news in this sector is welcome.
EPS for the quarter totaled $0.61, way above analysts’ estimates of $0.12/share, and revenue rose to $19.7 million, up 69% from the same period in 2007. The company reported a one-time gain of $6.8 million from a contract termination during the quarter, which prevented what would have been an operating loss of $878,000 for the quarter.
The company was cash-flow positive in 2008, and finished the year with $6 million in cash. The company also received a $3.7 million federal contract to work on developing a concentrator solar cell that would provide 42% efficiency. That’s more than double the efficiency of the cells in common usage today.
The company’s shares are up nearly 8% in pre-open trading, at $5.10. The 52-week range for the stock is $2.94-$18.75.
Paul Ausick
April 1, 2009
Get Ready To Retire (Sponsored)
Start by taking a quick retirement quiz from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes, or less.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Get started right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
