Spire posts record revenue for third quarter

Facebook
Twitter
LinkedIn
Reddit
Email

Spire released its third-quarter financial results for the period that ended September 30. The company reported US$20.6 million in revenues from continuing operations, showing a 24.6% increase from the same period during 2009, which resulted in US$16.6 million. Spire’s net loss for the third quarter came in at US$915,000, a marked improvement from 2009’s third-quarter net loss which totaled at US$3.5 million.

Revenue for the nine-month period from continuing operations were posted at US$61.9 million, growing 23% from the US$50.1 million during the same nine month period in 2009. Additionally, the net loss this nine-month period was US$208,000, a drop from 2009’s nine-month period's US$9.6 million. 

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

Roger G. Little, chairman/CEO, said, “We are pleased that the company continues to experience record revenues and substantial, year-over-year growth of 25.3% in our solar business segment. Our solar business now accounts for 83.4% of total revenues for the nine months ended September 30, 2010. Gross margins increased to 18.2% for the nine months ended September 30, 2010; a year-over-year increase of 61% for the same nine months ended September 30, 2009.

“This was another solid quarter with revenue growth in the solar business line, driven by high quality customers that have been added to our customer portfolio. The increase in business activity was due to the strong demand of solar equipment and solar systems have steadily progressed since the beginning of the fiscal year through the third quarter. The company remains focused on margin enhancement by driving productivity and efficiency programs as we scale the business to meet continued top line growth while generating value to our shareholders.”

Read Next

November 14, 2024
China’s CHN Energy has grid connected the Mengxi Blue Ocean PV Power Plant Project, at 3GW the country’s largest single-site PV power plant.
November 14, 2024
The sixth PPE2 tender for ground-mounted solar ended up slightly oversubscribed as the French government tendered for 925MW of PV capacity.
November 14, 2024
In its Q1-3 2024 financial results, SMA Solar said it will cut up to 1,100 jobs and reduce costs by between €150 and €200 million by the end of 2025.
November 14, 2024
The Northern Territory government in Australia has proposed developing an AU$400 million (US$259 million) renewable energy hub featuring six solar PV power plants in the region.
November 14, 2024
Australia’s Pacific Blue, a renewable energy generator and retailer, has been granted council approval for a 300MW solar-plus-storage expansion in North Queensland.
November 14, 2024
State-owned China Energy Investment Corporation (CHN Energy) has completed a 1GW floating solar PV facility in the Shandong Province of China.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
November 19, 2024
Philadelphia, USA
Solar Media Events
November 20, 2024
Zhuhai, China
Solar Media Events
November 21, 2024
London, UK
Solar Media Events
November 26, 2024
Málaga, Spain
Solar Media Events
November 26, 2024
Warsaw, Poland