While the solar installers Akeena Solar (AKNS) & Real GoodsSolar (RSOL) have perked up a bit technically, fundamentally bothremain in dire straits. Akeena Solar (AKNS) reported their miserablequarter several days ago and after the bell today it was Real Goodsturn. It wasn’t pretty but RSOL is closer to profitability than AKNS.
The company reported a much wider loss than the year ago period at.08/share which missed analyst expectations of a .06/loss. Revenuesincreased 45% over the year ago period to $9.5 million but that wasmostly due to acquisitions and lower than analyst estimates of $9.89million.
“The first quarter is generally our slowest quarter of the year dueto seasonality, winter weather and shorter installation days,”commented Tom McCalmont, Chief Executive Officer. “This effect wasmagnified during the first quarter of 2009 by the very challengingeconomic environment. However, as the sun has come out this spring andour new marketing initiatives have taken hold, we have begun to seesome initial momentum in sales and we are hopeful that this trend willcontinue as we enter into the prime summer selling months. While ouroptimism remains cautious, we are encouraged by the signing of a numberof significant sales contracts during the last sixty days, representingover $30 million of revenue.”
Ok Tom, we’ll check back in next quarter and see if the spring does indeed warm up those sales.