Weak demand across its served markets saw 2009 sales at BTU International decline compared to the previous year. Sales for the year reached US$45.1 million, down from US$72.3 million in 2008. Net loss for 2009 was US$14.6 million, compared to a net loss of $1.1 million in the previous year. Solar equipment sales have started to recover, the company said.
“Our alternative energy business during the fourth quarter was mixed with an increase in solar bookings, but a small decline in solar revenues,” noted Paul J. van der Wansem, BTU chairman and CEO.
Fourth quarter net sales were US$12.1 million, down 2.4% compared to US$12.4 million in the preceding quarter. The company guided sales for the first quarter of 2010 of between US$15.5 and US$16.5 million.