Spire’s sales hit by delayed customer acceptances

Facebook
Twitter
LinkedIn
Reddit
Email

Spire Corp. saw its first quarter revenue impacted by two major contracts not receiving customer acceptance as expected. The turnkey PV manufacturing line specialist posted revenue of US$12.3 million, a 15% decrease from US$14.5 million for the same quarter of 2008.

“The ongoing global recession impacted our business in the first-quarter as PV companies continue to be cautious with their capital expansions and financing remains tight; this was a disappointing quarter,” remarked Roger Little, Chairman and CEO of Spire. “Our sales were down principally due to delayed acceptances on two substantial orders. Timing of delivery on large projects can cause our revenues to vary dramatically from quarter to quarter.”

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

Spire Semiconductor revenues also decreased compared to the same period last year. However, the company said that it had begun shipping and billing to the Department of Energy’s National Renewable Energy Laboratory under its program to develop a 42% efficient concentrator solar cell.

Spire posted a net loss of US $1.5 million which includes a gain of $1.54 million from a termination of a contract.

The company reiterated that its sales enquiry activity continued to increase as a result of its U.S. initiative on the back of the renewable stimulus package.

Read Next

June 30, 2025
Australian module manufacturer Tindo Solar has secured a 30MW solar module supply agreement to power Australia's first "net zero pipeline”.
June 27, 2025
Indian solar manufacturer Premier Energies has commissioned its 1.2GW TOPCon solar cell manufacturing line at Fab City, Hyderabad, Telangana.
June 27, 2025
The UK government has decided it will not sign a Contract for Difference (CfD) with Xlinks for the 11.5GW Morroco-UK interconnector project.
June 27, 2025
Renewables investment platform Nexwell Power has signed a round of power purchase agreements (PPAs) with “one of the largest” US tech companies for solar PV capacity to be built in Spain.
June 27, 2025
Statkraft has signed PPAs with Better Energy to purchase energy from two solar power plants in Poland with a total capacity of 64GWh.
June 27, 2025
Solar developer Lightsource bp has signed a power purchase agreement (PPA) with a subsidiary of Taiwanese energy firm HD Renewable Energy (HDRE).

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
June 30, 2025
10am PST / 6pm BST
Solar Media Events
July 1, 2025
London, UK
Solar Media Events
July 1, 2025
London, UK
Media Partners, Solar Media Events
July 2, 2025
Bangkok, Thailand
Media Partners, Solar Media Events
September 2, 2025
Mexico City, Mexico