Spire reports revenue growth for third quarter

Facebook
Twitter
LinkedIn
Reddit
Email

Spire Corporation has released their third quarter revenue results for the period that ended September 30.  The total revenue amounted to $16.5 million, compared to 2008’s third quarter $16.6 million. The net loss was $3.5 million this quarter compared to 2008, which saw a net income of $445,000. The losses include $1.2 million for 2009 and $77,000 for 2008 third quarter results for the company’s medical products business unit that has now been classified as a discontinued operation.

Revenues for continuing operations for the third quarter were $50.1 million, a 9% increase from $46.2 million 2008’s third quarter. Net loss equaled $9.6 million for this period, compared to $347,000 in 2008. The results again included losses of $1.6 million (2009) and $358,000 (2008) from the discontinued medical products business unit.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

Roger G. Little, chairman and CEO, said, “We are encouraged in a tough market by a 3% growth in revenue of our solar products and services business on a year over year basis for the third quarter ended September 30, 2009, as this segment represented 82% of our total revenue. The Company delivered two module lines and several orders for capital equipment to its customers as they position for expected global expansion of PV.”

The net cash provided by operating activities of continuing operations totaled $429,000, compared with the $2.9 million for the third quarter of 2008. As of September 30, Spire reported cash and cash equivalents of $6.3 million, wherein $4.9 million is unrestricted.

Read Next

October 6, 2025
Indian solar developer ACME Group has established a new subsidiary to manage its renewable equipment manufacturing business, under which it is planning to scale production of TOPCon PV modules.
October 6, 2025
Rajasthan government will develop 500MW/2,000MWh of standalone battery energy storage systems (BESS) with a four-hour single-cycle configuration and extended operational life.
October 6, 2025
German solar inverter manufacturer SMA Solar will cut 350 jobs in 2026 as it adapts to the “weak” residential PV market.
October 6, 2025
An expert panel has identified a series of grid failures that led to April's unprecedented power outage in Spain and Portugal, ruling out renewables as the leading cause.
October 3, 2025
Renewables developer Madison Energy Infrastructure has bought the US distributed generation assets of NextEra Energy Resources.
October 3, 2025
EDF Renewables and Enlight Renewable Energy have advanced solar-plus-storage projects in New Mexico and Arizona.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 7, 2025
Manila, Philippines
Solar Media Events
October 7, 2025
San Francisco Bay Area, USA
Solar Media Events
October 21, 2025
New York, USA
Solar Media Events
November 25, 2025
Warsaw, Poland