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Real Goods Solar (RSOL) Reports Earnings, Announces Large Navy Order, Up Over 10% AH
Real Goods (RSOL) is surging over 10% in after hours trading after the company announced earnings as well as a large order from Northrop Grumman to install three solar systems on two Navy bases beginning at the end of the year.
The company reported another losing quarter but saw a 44% bump in revenues (mostly due to acquisitions) over the year ago quarter and beat expectations. EPS came in at negative .03/share which compares to a .01 loss in the year ago quarter.
The CEO commented that he wasn’t pleased with another losing quarter but is pleased with the progress as bookings began to come alive again in the quarter, spurred by tax credits and lower module prices. The company expects to begin to see the positive impacts of the tail winds next quarter and expects revenues to surge a bit to $18 – 20 million
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