Gross profit decreased by $4.1 million to $5.5 million, or 20.7% of net revenue, for the fourth quarter of 2012 from $9.6 million, or 23.9% of net revenue, in the same period last year. The gross margin decrease primarily reflects the impact of lower pricing related to commercial projects in 2012.Operating expenses were approximately $8.9 million for the fourth quarter of 2012 compared to $9.5 million for the same period last year. The decrease in operating expenses reflects generally lower compensation expenses and improved productivity as a result of process improvements and consolidation of support operations at the company's corporate headquarters in Colorado.
Real Goods Solar Reports Fourth Quarter And Full Year 2012 Results
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