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.