This Day On The Street
Continue to site right-arrow
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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Spire Corporation Reports Results For First-Quarter 2011

Stocks in this article: SPIR

Spire Corporation (Nasdaq: SPIR), a global solar company providing capital equipment and turn-key manufacturing lines to produce photovoltaic (PV) modules and Engineering, Procurement and Construction (EPC) integration services for solar systems, today reported revenues from continuing operations for the first-quarter ended March 31, 2011 of $18.4 million, a 2% decrease from $18.9 million for the same quarter of 2010.

Net loss for the first-quarter of 2011 was $2.0 million, or $0.24 per share compared with a net loss of $0.7 million or $0.08 per share for the first-quarter of 2010. Loss from continuing operations was $2.0 million for the three months ended March 31, 2011 as compared to $1.3 million before a gain on termination of contracts for the first-quarter of 2010, or an increase in operating loss of $0.7 million year-over-year. The net loss for the first-quarter of 2010 includes a net loss of $87 thousand or $0.01 per share from the Company’s Medical Products business unit, which was sold in December 2009 and was classified as discontinued operations.

Net cash used in continuing operations was $0.5 million for the three months ended March 31, 2011, as compared to net cash used in continuing operations of $5.1 million for the three months ended March 31, 2010. As of March 31, 2011, Spire had $5.7 million in cash and cash equivalents.

Roger G. Little, Chairman and CEO, said “Revenues in the first-quarter of fiscal 2011 were about the same as last year, although we were less profitable due to product mix. In particular, we had an increase of 43% in solar cell sales, on a year-over-year basis, to $7.1 million at lower profit margin than from sales of solar equipment and turn-key lines.”

“During the quarter, we shipped a record number of Spi-Sun Simulators™, which are now used in over 30 PV module test laboratories and hundreds of manufacturing facilities worldwide.”

1 of 2

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

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.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs