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
TheStreet Open House

Real Goods Solar Reports Fourth Quarter And Full Year 2012 Results

LOUISVILLE, Colo., April 1, 2013 (GLOBE NEWSWIRE) -- Real Goods Solar, Inc. (Nasdaq:RSOL), a nationwide leader of turnkey solar energy solutions for residential, commercial, and utility customers, reported results for the fourth quarter and full year ended December 31, 2012.

Q4 2012 Highlights

  • Completed more than 7 megawatts (MW) of residential and commercial projects in Q4 resulting in over 26 MW of total installations for the full year, leading to a major company milestone of more than 100MW in total completed projects.  
  • Improved working capital management, which primarily drove the increase in cash at quarter-end to $10.4 million from $3.8 million at the end of the previous quarter.  
  • Secured more than 5MW in solar power projects across Arizona and California in key education, municipal, and commercial market segments, including the Crane school district in Arizona to provide 1.7MW of solar on five school sites. In total, secured more than 6MW of new commercial projects in Q4. Advanced relationship with a northeast grocery chain to install more than 2.6MW of solar, with approximately 800 kilowatts installed in Q4.  
  • Implemented organizational changes that substantially enhanced productivity and reduced operating expenses quarter over quarter, setting the stage for improved results in 2013.

Q4 2012 Financial Results as Compared to the Same Year-Ago Quarter

Net revenue for the fourth quarter of 2012 decreased 33% to $26.8 million from $40.3 million in the same period last year. The decline in revenue is attributable in part to the direct supplying to customers by financing companies of certain components used in residential installation. Sourcing of such components in conjunction with the associated financing allowed residential customers to take advantage of certain expiring tax benefits, and are referred to as "safe harbor" installations. While the company recognized lower revenue from safe harbor installations, the company's gross margin dollars were similar to non-safe harbor installations. In addition, results in the fourth quarter of 2011 benefited from the one-time impact of the impending expiration of certain tax incentives at year end. These tax incentives resulted in the acceleration of construction of some projects from 2012 into 2011.

1 of 5

Select the service that is right for you!

COMPARE ALL SERVICES
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 17,172.68 -107.06 -0.62%
S&P 500 1,994.29 -16.11 -0.80%
NASDAQ 4,527.6890 -52.10 -1.14%

Brokerage Partners

Rates from Bankrate.com

  • 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