BTU International reports first quarter results

Facebook
Twitter
LinkedIn
Reddit
Email

BTU International has released its financial results for the first quarter of 2010, ended April 4. First quarter net sales were US$17.2 million, up 42.5% compared with US$12.1 million in the preceding quarter, and up 75.3% compared to US$9.8 million for the same quarter in 2009.

Net loss for the first quarter of 2010 was US$0.3 million, or a loss of US$0.03 per diluted share, compared to a net loss of US$3.9 million, or a loss of US$0.42 per diluted share, in the preceding quarter, and compared to a net loss of US$4.6 million, or a loss of US$0.49 per diluted share, in the first quarter of 2009.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

Paul van der Wansem, BTU chairman and CEO said, “Net sales of US$17.2 million for the first quarter exceeded our guidance and reflected a strengthening of our electronics business with a solid contribution from our alternative energy business. Although we continue to have active discussions with key solar customers regarding future orders, several of these projects have seen delays. First quarter operating results approached break-even with a small loss on an after tax basis.

“Although our forward looking visibility remains limited, we expect our second quarter revenues to be essentially flat compared to the first quarter with continued strong bookings in our electronics business. We are experiencing increased quoting activity in our alternative energy business, especially solar, and expect additional growth in our solar business later this year. Based on an expected greater mix of electronics business in the second quarter, we expect that our overall margins will be lower as compared to the first quarter,” concluded van der Wansem.

Read Next

Premium
July 18, 2024
“We believe this policy will unlock opportunities for renewables as it increases electricity supply avenues."
July 18, 2024
Egypt aims to accelerate the approval process for new renewables capacity to be constructed in the country.
July 18, 2024
US energy technology company Generac has been awarded a US$200 million grant from the Department of Energy (DOE) to deploy residential solar PV and energy storage systems in Puerto Rico.
July 18, 2024
The financing will be offered to two banks, as they will provide loans to developers and end-users to install rooftop solar systems.
Sponsored
July 18, 2024
Shaun Xiong, general manager of Anker's Europe storage business, discusses the company’s background, priorities and plans for the future.
July 18, 2024
On Wednesday (17 July), the Tasmanian government in Australia removed a ‘speed limit’ measure that has prevented state-owned utility Hydro Tasmania from developing large-scale renewable energy projects, such as solar, without a "cumbersome" Parliamentary process.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
July 31, 2024
1:00 PM (BST) / 2:00PM (CEST)
Solar Media Events
September 24, 2024
Warsaw, Poland
Solar Media Events
September 24, 2024
Singapore, Asia
Solar Media Events
October 8, 2024
San Francisco Bay Area, USA