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

Spire Corporation Reports Results For Fourth-Quarter And Year-End 2011

Spire Corporation ("Spire") (Nasdaq: SPIR), a diversified global company providing solar photovoltaic (PV) equipment and systems, biomedical processing services and optoelectronic components announced today revenues from continuing operations for the year ended December 31, 2011 of $61.6 million, a 22.8% decrease from $79.8 million in 2010. Net loss for the year ended December 31, 2011 was $1.5 million, or $0.18 per diluted share, compared to a net loss of $0.4 million, or $0.05 per diluted share, for the same period of 2010. These results include a gain on a settlement with a contract manufacturer of $1.4 million, net of a tax provision of $0.9 million, or $0.16 per diluted share for 2011. Fiscal year 2010 results include a gain on the sale of the assets of its Medical Device business to Bard Access Systems, Inc. of $1.6 million, net of a tax provision of $1.0 million, or $0.20 per diluted share. In addition, the Company recorded gains of $0.4 million and $1.9 million, respectively, on terminations of contracts for 2011 and 2010.

Spire‚Äôs revenues for the fourth-quarter ended December 31, 2011 were $19.5 million from continuing operations, an increase of 8.5% from $18.0 million in the fourth-quarter of 2010. Net income for the quarter was $1.6 million, or $0.19 per diluted share, compared to a net loss of $0.2 million, or ($0.02) per diluted share, for the fourth-quarter of 2010. Spire recorded net income from continuing operations of $0.2 million in the fourth-quarter of 2011 compared to a net loss from continuing operations of $0.2 million in the fourth-quarter of 2010.

Gross margin for fiscal year 2011 was $12.5 million, or 20.3% of revenue, compared to $14.7 million, or 18.4% of revenue for fiscal year 2010, representing an improvement in gross margin percentage of 10.3% over the prior year.

Net cash used in operating activities of continuing operations was $3.1 million for the year ended 2011 as compared to net cash used in operating activities of continuing operations of $2.4 million for the same period last year. At year-end 2011, Spire had cash and cash equivalents of $4.8 million as compared to $6.3 million at December 31, 2010.

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
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 $94.26 -0.77%
FB $101.50 2.00%
GOOG $684.03 0.87%
TSLA $163.06 10.00%
YHOO $27.10 1.00%


Chart of I:DJI
DOW 15,914.74 -99.64 -0.62%
S&P 500 1,851.86 -0.35 -0.02%
NASDAQ 4,283.5920 +14.8290 0.35%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs