For the year ended December 31, 2010, revenue grew to $77.3 million, a 20.2% increase from $64.3 million for last year. Operating income for the year was $2.0 million as compared to a loss of $2.6 million last year. Net income for the year was $1.2 million as compared to a loss of $1.6 million last year. EBITDA for the year was $2.9 million, or 3.7% of net revenue. Refer to the Non-GAAP Financial Measures table below.
"We are very pleased with our fourth quarter revenue performance, our improved gross profit margin and our sixth consecutive quarter of profitability," commented John Schaeffer, President. "Internal revenue growth for the year was over 20% and we continue to see strong demand for both residential and commercial solar. We remain focused on building our backlog and on hiring installation crews where appropriate to expand our production capacity to keep up with demand."
"Our financial metrics across the board were very strong in the fourth quarter," said Erik Zech, Chief Financial Officer. "Our ability to show both higher revenues and improved gross margins are indicative of the progress we have made in growing and optimizing our business. While our cash balance was down from the end of the third quarter largely due to a delayed payment of more than $3 million on a large commercial project, which has subsequently been collected, our balance sheet has remained strong with cash of $11.1 million and no debt."
Real Goods Solar will host a conference call tomorrow, March 10, 2011, at 8:30 a.m. PST (11:30 a.m. EST) to review the fourth quarter results.
|Dial-in No.:||877-941-2069 (domestic) or 480-629-9713 (international)|
|Replay number:||877-870-5176 (domestic) or 858-384-5517 (international)|
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 + 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