Roseville solar firm posts 4th-quarter loss

Published: Friday, Apr. 5, 2013 - 12:00 am | Page 6B
Last Modified: Saturday, Apr. 6, 2013 - 9:01 am

Roseville-based SPI Solar reported sizable losses for its fourth quarter and year ended Dec. 31.

SPI had a net loss of $15.2 million, or 8 cents a share, in last year's final quarter. In the last quarter of 2011, the company had net income of $3.8 million, or 2 cents a share.

For all of 2012, the company lost $25.6 million, or 13 cents a share, compared with net income of $1.2 million, or a penny a share, in 2011.

SPI pointed to reduced sales, increased operating expenses and costs related to last year's acquisition of Italy-based Solar Green Technologies, in a $6 million deal.

SPI's 2012 net sales totaled $100 million, compared with $139.8 million in 2011.

Call The Bee's Mark Glover, (916) 321-1184.

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