Real Goods Solar Delivers Profit $RSOL
Real Goods Solar (RSOL) posted a real good quarter after the bell today, surprising Wall St by reporting a profit. Ok, the profit was miniscule at $17k, but it was much betterthan the .04/share loss analysts had expected and marked the 3rdstraight quarter of profitability. Revenues matched analyst estimatesof $15 million and represented a 58% improvement over the year agoquarter. The company attributed the improved margins to betterinstallation practices, solar module price declines and integration ofacquired businesses.
CEO John Schaeffer commented on the quarter: “We are extremelypleased with our first quarter results. Internal revenue growth was over 50% from the first quarter of 2009 and we are optimistic about bothresidential and commercial demand for the remainder of the year. We were very pleased to recognize a profit during the first quarter of theyear, which is typically our seasonally slowest quarter.”
I’m not seeing any guidance numbers on the initial release butthat should be available tomorrow during the conference call.
While RSOL is an extremely thin stock trading just 14K shares aday, it continues to look quite bullish on the daily chart. A breakoutabove the April high of 3.90 with big volume would be extremely bullish.
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