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

Real Goods Solar Reports Fourth Quarter And Full Year 2012 Results

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.  

Operating loss for the fourth quarter of 2012 was $3.3 million compared to operating income of $0.2 million for the same quarter last year.

Net loss for the fourth quarter of 2012 was $3.8 million, or $(0.14) per share, compared to net income of $0.1 million, or $0.00 per share, for the same quarter last year. The net loss primarily reflects the impact of lower pricing related to commercial projects, as well as an increase in interest expense in the fourth quarter of 2012 compared to the same year-ago quarter.

Cash was $10.4 million at December 31, 2012. On March 27, 2013, the company obtained an extension of its $6.5 million revolving line of credit with Silicon Valley Bank through September 30, 2013. In addition, the company extended the maturity date of the $6.85 million of related party debt, to April and May 2014.

Fiscal Year 2012 Financial Results

Net revenue for 2012 decreased 15% to $92.9 million from $109.3 million for 2011. The decline in revenue is primarily attributable to the aforementioned safe harbor activity. While the company recognizes lower revenue from safe harbor installations, gross margin dollars were similar to non-safe harbor installations.

2 of 5

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
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 18,106.10 +68.13 0.38%
S&P 500 2,113.27 +4.35 0.21%
NASDAQ 5,068.2760 +8.03 0.16%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs