FORT WORTH, Texas--(BUSINESS WIRE)--Entech Solar, Inc. (OTC BB: ENSL.OB - News) (the ???Company??? or ???Entech Solar???), with plans to become a leading developer of renewable energy technologies, announced today its financial results for the quarter ended June 30, 2009.
Second Quarter Operational Highlights
Completed preliminary design and construction of a module prototype of its next-generation concentrating solar product, ThermaVolt??? II which will be deployed with both ground and roof-mount trackers, and is being designed for low cost, manufacturability, ease of installation and high reliability.
Filed multiple patent applications associated with the ThermaVolt II module to ensure appropriate intellectual property protection.
Recently completed the preliminary design of its patented tubular skylight and announced its intention to commercialize this product.
Business transformation from a flat-plate photovoltaic engineering, procurement and construction company to an advanced technology-based solar solutions developer resulted in significant revenue reduction in the second quarter of 2009.
???Entech Solar is pleased to announce meaningful progress in both the development of its concentrating solar module, ThermaVolt II, and its tubular skylight products over the past few months,??? said Dr. Frank Smith, Chief Executive Officer. ???We expect ThermaVolt II to offer a compelling value proposition to the multi-billion dollar U.S. combined heat and power market with its dual output of electricity and thermal energy, competitive price point and standard installation.
???In addition to the concentrating solar modules, we are developing and commercializing a line of tubular skylight products, which we view as an important strategic investment that may enhance the Company???s near-term revenue and market presence. We remain focused and dedicated to completing the development and commercialization of our products as soon as possible, and continue to assess opportunities to accelerate this process.???
As the Company transitions from the flat-plate solar installation business, revenues for the 2009 second quarter amounted to $150 thousand, compared with $7.6 million reported in the second quarter last year. The Company recorded a gross profit for the quarter ended June 30, 2009 of $11 thousand, versus a gross loss of $2.9 million in the prior-year period. The Company???s net loss attributable to common shareholders for the second quarter of 2009 was $4.3 million, or $(0.02) per share, versus a comparable loss of $24.0 million, or $(0.12) per share, after the $15.5 million preferred stock dividend recorded in the second quarter of 2008.
Entech Solar will host a conference call at 10:00 a.m. Eastern on August 10, 2009 for the quarter ended June 30, 2009. During the call, Dr. Frank W. Smith, Chief Executive Officer, and Sandy J. Martin, Chief Financial Officer, will review the Company???s operations, business and financial matters. During the call, the Company may discuss or respond to questions which may constitute material information that has not been previously disclosed. The telephone number for the conference call is 866-831-6247 domestically and 617-213-8856 internationally, with conference ID #52435504. A live webcast of the call will also be available on the company's website, www.entechsolar.com.
The webcast will be archived on the site, and investors will be able to access an encore recording of the conference call for thirty days by calling 888-286-8010 domestically or 617-801-6888 internationally, with conference ID #63010910. Encore recordings will be available two hours after the conference call has concluded.
About Entech Solar
Entech Solar, Inc. plans to become a leading developer of renewable energy technologies for the commercial and industrial markets. Entech Solar designs concentrating solar modules that provide both electricity and thermal energy as part of its ThermaVolt??? product line. The Company also develops a state-of-the-art tubular skylight that provides superior light output and optical efficiency for the commercial and industrial green buildings initiatives. For more information, please visit www.entechsolar.com.
L'ensemble des analyses et/ou recommandations présentes sur le forum BOURSORAMA sont uniquement élaborées
par les membres qui en sont émetteurs.
Agissant exclusivement en qualité de canal de diffusion, BOURSORAMA n'a participé en aucune manière
à leur élaboration ni exercé aucun pouvoir discrétionnaire quant à leur sélection. Les informations
contenues dans ces analyses et/ou recommandations ont été retranscrites "en l'état", sans déclaration
ni garantie d'aucune sorte. Les opinions ou estimations qui y sont exprimées sont celles de leurs auteurs
et ne sauraient refléter le point de vue de BOURSORAMA. Sous réserves des lois applicables, ni l'information
contenue, ni les analyses qui y sont exprimées ne sauraient engager la responsabilité BOURSORAMA.