- Gross Margin Increases 280 Basis Points to 30.9%
- Sixth Consecutive Quarter of Profitability
BOULDER, Colo., March 9, 2011 (GLOBE NEWSWIRE) -- Real Goods Solar, Inc. (Nasdaq:RSOL), a leading residential solar energy integrator, today announced results for its fourth quarter ended December 31, 2010.
Net revenue for the fourth quarter of 2010 increased 5.5% to $20.2 million from $19.1 million recorded in the same period last year. This growth included the replacement of a significant $5 million commercial project that was installed in the fourth quarter of 2009. All of the year-over-year revenue growth was organic.
Gross profit increased to $6.2 million, or 30.9% of net revenue, for the fourth quarter of 2010 from $5.4 million, or 28.1% of net revenue, in the comparable period last year. The increase in gross profit percentage primarily reflects improved selling and installation practices as well as declines in PV module prices over the last year.Operating expenses as a percent of net revenue increased to 28.9% for the fourth quarter of 2010 from 26.3% in the comparable period last year. This primarily reflects increased share-based and bonus compensation as a direct result of our improved performance, partially offset by the leveraging of fixed costs and cost savings achieved by integrating all acquired businesses onto a single set of systems and a unified brand. Operating income for the fourth quarter of 2010 improved to $396 thousand, as compared to $337 thousand for the comparable period last year. EBITDA for the fourth quarter of 2010 was $618 thousand, or 3.1% of net revenue. Refer to the Non-GAAP Financial Measures table below. Net income for the fourth quarter of 2010 improved to $250 thousand, or $0.01 per share, as compared to $217 thousand, or $0.01 per share, for the comparable period last year.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV