Real Goods Solar (RSOL) Beats, Sees "Strong Demand For Residential Solar"

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06:53:23 pm on March 8, 2010

Real Goods Solar (RSOL) reported 4th quarter results after the bell today, posting slightly better results than what analysts expected.  The company posted an EPS of .01/share on revenues of $19.1 million.  Analysts expected a flat quarter on revenues of $18.85 million.  That’s good for a 42% increase in revenues over the year ago quarter and a big improvement in EPS too considering the company posted a .08/share loss in the year ago quarter.

RSOL President John Schaeffer commented on the quarter: “The fourth quarter saw continued strong demand for residential solar.  Bookings were robust throughout the quarter and we are pleased with the size of our backlog going into the slower winter months. Revenue for the quarter showed significant growth as a result of increasing installation capacity as well as completion of significant low-income housing projects in San Francisco and Richmond. We also reported our second consecutive quarter of profitability combined with over 40% internal revenue growth as we continue to see the benefits of scale, operational efficiencies and strong consumer demand.”

Shares are up about 1% in after hours trading.  The stock has been digesting last year’s run up quietly, pulling back to near the 200 day moving average.  It may be ready to begin moving higher again off this key support level.

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I really like just how a lot of people still believe solar technology is science fiction, however each day one more MW or 2 is being set up. So much activity in this sector it’s expected to attain 1GW in the united states by the end of the year.

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