Specialist encapsulant supplier, STR Holdings, has said it expects fourth quarter 2013 sales to have slightly exceeded the prior quarter levels, indicating a reversal in its downward sales trajectory after losing First Solar as its major customer at the end of 2012.
STR Holdings guided fourth quarter sales to between approximately US$6.5 to US$6.7 million, compared to US$6.2 million in the prior quarter. Sales in the first quarter of 2013 had been US$11.2 million.
This would be the first sequential quarterly sales increase in nine quarters, according to the company.
STR Holdings also guided EBITDA for the fourth quarter of 2013 to be in the range of US$3.4 million to US$3.9 million compared to US$4.6 million in the third quarter of 2013.
The company guided that it would have US$58 million in cash at the end of the fourth quarter, down from US$62.2 million in the previous quarter.