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
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Spire Corporation Reports Third Quarter 2011 Results

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 third quarter ended September 30, 2011 of $8.9 million. This represents a 57% reduction from $20.6 million for the same quarter of 2010 which was favorably impacted by non-recurring solar cell materials revenue of $2.5 million and $7.3 million of revenue related to the installation of four solar systems, on a year over year basis. Net loss for the third quarter of 2011 was $1.8 million, or $(0.21) per share, compared to a net loss of $915 thousand, or $(0.11) per share for the third quarter of 2010.

Revenues from continuing operations for the nine months ended September 30, 2011 were $42.0 million, a 32% decrease from $61.9 million for the same nine month period in 2010 which included non-recurring revenues in solar cell materials of $10.5 million and $8.1 million of revenue recognized with respect to the installation of five solar systems, on a year over year basis. Net loss for the nine months ended September 30, 2011 was $3.1 million, or $(0.37) per share, compared with a net loss of $208 thousand, or $(0.03) per share, for the same period in 2010. These results include a net gain of zero for the nine month period ended September 30, 2011 and $1.5 million, or $0.18 per share, for the nine month period ended September 30, 2010 from the Company‚Äôs Medical Products business unit which has been classified as a discontinued operation.

Net cash used in operating activities of continuing operations was $3.4 million for the nine months ended September 30, 2011, as compared to $2.4 million for the same period in 2010. As of September 30, 2011, the Company had unrestricted cash and cash equivalents of $2.3 million.

1 of 3

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
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

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
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
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 17,856.78 -278.94 -1.54%
S&P 500 2,071.26 -29.78 -1.42%
NASDAQ 4,927.37 -55.4390 -1.11%

Partners Compare Online Brokers

Free Reports

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