By William Pentland, Contributor
Swiss industrial conglomerate ABB is gambling big on the market prospects for growth in the solar energy space, agreeing to buy the U.S. solar inverter company Power-One for about $1 billion.
From: http://www.forbes.com/sites/williampentland/2013/04/22/abb-gambles-big-on-solar-power/
By Aimee Duffy and Tyler Crowe, The Motley Fool
Filed under: Investing
Increasingly, companies with giant property footprints are going out of their way to power facilities with solar power. In this video, Fool.com contributor Aimee Duffy talks to fellow contributor Tyler Crowe about companies that are utilizing PACE bonds to improve their energy infrastructure and save money in the long term, and explains how the bonds work and how much money is involved along the way.
Investors and bystanders alike have been shocked by First Solar‘s precipitous drop over the past two years. The stakes have never been higher for the company: Is it done for good, or ready for a rebound? If you’re looking for continuing updates and guidance on the company whenever news breaks, The Motley Fool has created a brand-new report that details every must know side of this stock. To get started, simply click here now.
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From: http://www.dailyfinance.com/2013/04/12/record-loans-for-solar-power/
By Business Wirevia The Motley Fool
Filed under: Investing
SPI Solar Announces Fourth-Quarter and Full-Year 2012 Financial Results
ROSEVILLE, Calif.–(BUSINESS WIRE)– SPI Solar (“SPI”) (SOPW:OTCBB), a vertically integrated photovoltaic (“PV“) solar developer, today announced its results for the fourth quarter and year ended December 31, 2012.
Fourth-Quarter 2012 Results:
Total net sales for the fourth quarter of 2012 were $13.0 million compared with $61.3 million for the fourth quarter of 2011, which included a $42.0 million solar panel shipment to KDC Solar LLC.
Total cost of goods sold for the fourth quarter of 2012 was $16.1 million compared with $53.3 million for the fourth quarter of 2011. Cost of goods sold for the fourth quarter of 2012 included $3.1 million in impairment charges due to $2.7 million in cost in excess of projected budgets on the Greek project portfolio and $0.4 million in impairment for inventory obsolescence.
Total operating expenses for the fourth quarter of 2012 were $11.4 million compared with $4.6 million for the fourth quarter of 2011. Operating expenses for the fourth quarter of 2012 included $3.1 million in non-recurring charges, $2.1 million of consulting and commission expenses related to the Company’s Italian subsidiary, $1.1 million in audit-related expenses, and $0.1 million in impairment of an intangible asset due to a change in business strategy.
Net loss for the fourth quarter of 2012 was $15.2 million, or ($0.08) per basic and diluted share. This compared with net income of $3.8 million, or $0.02 per basic and diluted share, for the fourth quarter of 2011.
Full-Year 2012 Results:
As a reminder, the historical financials and comparisons noted below reflect the acquisition of Solar Green Technologies, the Company’s Italian subsidiary, as required under U.S. GAAP accounting guidelines for a transfer of an entity under common control. As a result, excluded from the results of operations below are the results of legacy Solar Power, Inc. for the three months ended March 31, 2011, as follows: net sales of $5.8 million, cost of goods sold of $5.1 million, and operating expenses of $2.2 million.
For the year ended December 31, 2012, total net sales were $100.0 million, compared with $139.8 million for 2011. Gross profit for 2012 was $8.6 million, compared with $15.9 million for 2011.
For 2012, the Company reported total cost …read more
Source: FULL ARTICLE at DailyFinance