Real Goods Solar (RSOL) Reports Mixed Results, But Remains Top Residential Solar Installer

Real Goods Solar (RSOL) reported another solid quarter and continues to separate itself as the top publicly traded residential solar installer.  Akeena Solar (WEST) hasn’t put up much of a fight.  Real Goods beat the analyst estimate on the EPS side, but missed revenue estimates posting an EPS of .02/share on revenues of $17.5 million vs  the estimate of zero profit on revenue of $18.45 million.  Despite the miss on revenues, the company still managed to post quarter over quarter growth of 38% which is the 9th straight quarter of quarter over quarter revenue growth. 

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“We are very pleased with our strong second quarter revenue growth, our improved gross profit margin and our continued profitability,” commented John Schaeffer, President. “Internal revenue growth was 38% for the second quarter of 2010 and we continue to be optimistic about both residential and commercial demand for the remainder of the year. We remain focused on building our backlog and on hiring installation crews where appropriate to expand our production capacity and keep up with demand.”

Shares are up fractionally in after hours trading and I believe the stock offers a compelling entry point down around the 2.50 level. 

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