This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

American Electric Technologies Reports 4th Quarter And 2010 Results

The recorded results reflect the transfer of R&D expenses related to the development of new products from the Technical Products business direct costs and gross profit calculations, to a new line on the income statement called R&D expense where they will be reflected. Research and development costs in the fourth quarter relating to the Company's new solar inverter product, approximated $188,000 as compared to $273,000 in the previous quarter.

Also, the reported results reflect the transfer of expenses related to the management of its international joint ventures from the Technical Products business indirect expenses and will show them on the income statement as a cost against equity net income. Joint venture costs in the fourth quarter approximated $91,000 as compared to $96,000 in the previous quarter.

For the year, TP&S saw a $10.5 million or 34% revenue decrease versus 2009. However, revenue for the second half of 2010 increased $2.2 million or 24% to $11.4 million as compared with the first half of 2010.

For the twelve months ended December 31, 2010, TP&S reported a gross profit of $1.2 million compared with a gross profit of $6.1 million in the prior year.

Backlog for the Technical Products segment was $7.7 million at December 31, 2010 versus the $6.2 million coming into the fourth quarter.

The company also continued its R&D efforts related to its Integrated Solar Inversion Station (ISIS™) product for the fast growing utility-scale solar power generation market, and is seeing a growing pipeline for the company's solar products and turnkey solutions. The company expects to begin seeing financial impact from its investment in solar power in mid-year 2011.

The E&I construction group showed slight revenue growth in the core industrial construction business to $3.0 million, compared with $2.8 million in the prior quarter. For the year, E&I construction saw revenues of $11.5 million, compared with revenues of $14.6 million in the prior year.  

2 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.74 0.00%
FB $117.58 0.00%
GOOG $693.01 0.00%
TSLA $240.76 0.00%
YHOO $36.60 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs