Spire shipping first blue light enhanced sun simulators in Q4

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
Email

PV equipment supplier Spire Corporation is shipping the first of its 'Spi-Sun Simulator 5600SLP' units, which uses enhanced blue light technology required for advanced solar cell/module performance measurement.

Spire said it had at least one of the new sun simulators, its core product line shipped in the third quarter of 2012, while further shipments were expected in the fourth quarter to customers in China.

The company revealed in its Q3 2012 SEC financial filing that it had deferred cost of goods sold of US$94,000, which related to equipment shipped but revenue not recognised. Spire also had US$2.3 million allocated to work in progress (WIP) and finished goods valued at US$1.2 million at the end of Q3.

Financial results

Echoing other equipment supplier’s plight of drastically reduced order flow, Spire posted Q3 2012 revenue of only US$4.2 million, representing a 48% reduction from $8.2 million for the same quarter of 2011.

On a nine month basis, sales declined 61% to US$13.2 million, compared to US$33.6 million in the same period of 2011. The company said in SEC filings that the declines were due to completed delivery commitments to a solar cell materials contract in the first quarter of 2011, while a decrease in solar module equipment revenue in 2012 was behind the revenue decline in 2012. Apparently, this was only partially offset by an increase in solar R&D related revenue of US$1.1 million in 2012.

The company posted a net loss in Q3 2012 of US$2.3 million, compared to a net loss of US$1.8 million in Q3 2011.

Roger Little, Chairman and CEO of Spire Corporation, said: “The solar industry continued to experience a slowdown in manufacturing expansion driven by worldwide overcapacity as originally projected for the current fiscal year. The company has developed several plans including cost containment efforts and potential strategic alternatives to offset the decline in business due to these global economic conditions.”

The company did not provide guidance for the fourth quarter or provide full-year guidance in a statement regarding Q3 2012 results.

28 September 2021
Solar Solutions International is the largest trade show for solar energy in Northwest Europe. Now the solar market has grown up, it's time for the next step. Solar Solutions International displays more than 500 innovations and over 100 practical seminars concerning the latest in energy storage, smart products, and an ever evolving array of solar panels. As an exclusively B2B trade show, Solar Solutions International offers both exhibitors and visitors the chance to network at the highest level. Duurzaam Verwarmd, the largest trade show for sustainable HVAC technology in the Benelux, is held simultaneously. This way your one visit gets you up to date with all of the developments in both sustainable energy and heating.
6 October 2021
Intersolar Europe is the world’s leading exhibition for the solar industry. It takes place as part of The smarter E Europe – the continent’s largest platform for the energy industry. Under the motto “Connecting solar business,” manufacturers, suppliers, distributors, service providers and project planners and developers from around the world meet in Munich every year to discuss the latest developments and trends, explore innovations firsthand and meet potential new customers.
6 October 2021
The future is bright for a new era of US solar and storage, and the 8th annual Solar & Storage Finance Summit will provide opportunities to discuss solutions to the industry’s challenges and provide a networking platform designed to bring together the top minds in the industry to do business. With a mix of high-level, informative presentations and panels, a stellar cast of speakers and audience members with deal-making capacity, the 2021 edition of the event will be a sell-out success.
18 October 2021
Intersolar South America, South America’s largest exhibition and conference for the solar industry, takes place at the Expo Center Norte in São Paulo, Brazil on October 18–20, 2021, and has a focus on the areas of photovoltaics, PV production and solar thermal technologies. At the accompanying Intersolar South America Conference, renowned experts shed light on hot topics in the solar industry.
19 October 2021
This year’s EV World Congress will hold a special role, not only as the first live EverythingEV event in over a year – a chance to renew your connections and re-engage with the EV sector face to face – but also as a chance to share insight and inspiration as world starts to look towards move on post COVID towards hitting ambitious decarbonisation goals in 2030 and beyond. As ever, we will be bringing world leading organisations, cities, and technology providers to the UK to inspire EV innovators, and delve into the challenges facing the sector as the UK looks to revolutionise road transport.
20 October 2021
Utility-scale solar is evolving, shaped by higher power modules and demand for increasingly lower levelised cost of electricity (LCOE). Those trends are also changing project requirements elsewhere, with inverters capable of delivering high power density and power capacity in strong demand. In this webinar, FIMER will detail how its innovative high-power, multi-MPPT string inverter and modular conversion solution can both meet those demands and transform the utility-scale solar sector for the better.

Read Next

September 24, 2021
Independent power producer Catalyze has acquired commercial and industrial (C&I) solar developer Sol Alliance, expanding its presence in the northeast of the US and taking on an 80MW project development pipeline in the process.
September 24, 2021
California Governor Gavin Newsom has signed a US$15 billion package to fund programmes to tackle drought and climate change in the state
PV Tech Premium
September 24, 2021
Concerns have been raised that new measures introduced by Spain’s government to limit windfall profits of renewable energy plants could dent investor confidence and impact the stability of the country’s solar sector.
September 24, 2021
DNV-owned solar monitoring firm GreenPowerMonitor is to integrate Alteso’s solar analytics tech platform into its offering after striking a deal to acquire it.
September 23, 2021
A project that bids to combine up to 20GW of solar PV with the world’s largest energy storage battery and a 4,200km-long subsea power cable has moved a step forward after Indonesian authorities greenlit its proposed transmission cable route.
September 23, 2021
US national residential and C&I solar plant performance assessment company Omnidian has completed a US$33 million Series B raise.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 6, 2021
Solar Media Events
October 19, 2021
BRISTOL, UK
Solar Media Events
December 1, 2021