North Coast Solar Stocks

December 2, 2009

Real Goods Solar to Install Low Cost Solar Energy at Bay Area Affordable Housing Communities

Filed under: RSOL — Tags: , , — Jason @ 8:00 am

Cost Savings and Clean Energy for Hundreds of Underserved Families

SAN RAFAEL, Calif.–(BUSINESS WIRE)–Real Goods Solar (RSOL) announced today it has signed a large multi-site contract to design and install 790 kW DC of solar electricity across four separate affordable housing communities: three in San Francisco and one in Richmond, CA.

The PV systems will be financed through a Power Purchase Agreement (PPA), enabling these properties to use solar-generated power without the upfront capital costs or operational expenses. Upfront installation costs have been significantly reduced by San Francisco Mayor Gavin Newsom’s GoSolarSF solar energy incentive program, and the California Solar Initiative Multi-Family Affordable Solar Housing (MASH) Rebate Program.

This multi-million dollar investment is expected to generate 1,090,311 kWhrs (1.1 MWhrs) of electricity for the residents of these communities, ensuring lower electricity rates for years to come. California’s new Virtual Net Metering tariff will allow the electricity and cost savings to be shared among the resident families as well as the common areas, a first for California.

“This project provides us the opportunity to showcase our strengths at Real Goods Solar, from expert installation to education to renewable energy living,” said John Schaeffer, Founder and President of Real Goods Solar. “Richmond and San Francisco will have beautiful systems that will produce low-cost power for decades to come, and allow them to be an example for sustainability and green collar jobs in the community.”

Through the San Francisco City Build and Solar Richmond workforce training programs, approximately 36 workers who were previously unemployed now have jobs installing the systems.

November 4, 2009

Real Goods Solar Reports Third Quarter Fiscal 2009 Results

Filed under: RSOL — Tags: , , , , , , — Jason @ 4:20 pm

4:20 pm EST, Wednesday November 4, 2009

* Revenue of $23.0 Million

* Return to Profitability

BOULDER, Colo., Nov. 4, 2009 (GLOBE NEWSWIRE) — Real Goods Solar, Inc. (RSOL), a leading residential solar energy integrator, today announced results for its third quarter ended September 30, 2009.

Revenue for the third quarter of 2009 increased 122.3% to $23.0 million from $10.3 million recorded in the same period last year, primarily due to organic growth and acquisitions.

Gross profit increased to $5.0 million, or 21.8% of revenue, for the quarter from $2.8 million, or 27.2% of revenue, in the comparable period last year. The decrease in gross margin percentage primarily reflects an increased mix of lower margin commercial installations during the third quarter of 2009. In the fourth quarter gross margin is expected to return to the mid-twenties.

Operating expenses as a percent of revenue decreased to 20.7% for the quarter, from 31.8% in the comparable period last year. This decrease is partially a reflection of the significant fixed cost component of the business and the available leverage as revenues scale. Additionally, the lower operating expenses have been a result of the significant cost savings achieved by transitioning all past acquisitions to a single set of systems and a unified brand.

Net income for the third quarter was $0.2 million, or $0.01 per share, as compared to a net loss of $0.2 million, or $0.01 per share, for the comparable period last year.

For the nine months ended September 30, 2009, revenue was $45.2 million, a 75.6% increase from $25.7 million in the comparable period last year. Net loss totaled $1.8 million, or $0.10 per share, compared to a net loss of $0.6 million, or $0.04 per share, for the nine months ended September 30, 2008.

Results for 2008 do not include Real Goods Solar’s acquisition of Regrid Power on October 1, 2008 and only include two months of results for the acquisition of Independent Energy Systems on August 1, 2008. On a pro forma basis, adding the $6.0 million of revenue from acquisitions not included in the third quarter 2008 reported results, internal revenue growth was approximately 41%.

“In the third quarter we saw the return of strong demand for residential solar,” commented John Schaeffer, President. “Bookings were robust throughout the quarter and we are pleased with the size of our current backlog. Revenue for the quarter showed significant growth as a result of increasing installation capacity as well as completion of the first phase of our Fremont High School project. What I am most excited to report is our return to profitability in the third quarter, a milestone that has been our highest priority.”

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August 5, 2009

Real Goods Solar Reports Second Quarter Fiscal 2009 Results

Filed under: RSOL — Tags: , , , , , — Jason @ 4:05 pm

Wednesday August 5, 2009, 4:05 pm EDT

BOULDER, Colo., Aug. 5, 2009 (GLOBE NEWSWIRE) — Real Goods Solar, Inc. (RSOL), a leading residential solar energy integrator, today announced results for its second quarter ended June 30, 2009.

Revenue for the second quarter of 2009 increased 43.8% to $12.7 million from $8.8 million recorded in the same period last year, primarily due to acquisitions.

Gross profit increased to $3.3 million, or 25.8% of revenue, for the quarter from $2.6 million, or 29.8% of revenue, in the comparable period last year. The decrease in gross margin percentage primarily reflects an increased mix of commercial installations and the consolidation of 2008 acquisitions which have traditionally produced lower gross profit margins.

Operating expenses as a percent of revenue increased to 33.2% for the quarter, from 31.3% in the comparable period last year. This increase primarily reflects incremental costs associated with being a public company and integration costs related to the Company’s historical acquisitions. As of June 30, the entire organization was on a single set of systems and integration costs were essentially complete.

Net loss for the second quarter was $0.6 million, or $0.03 per share, as compared to a net loss of $27 thousand, or $0.00 per share, for the comparable period last year.

For the six months ended June 30, 2009, revenue was $22.2 million, a 44.4% increase from $15.4 million in the comparable period last year. Net loss totaled $2.0 million, or $0.11 per share, compared to a net loss of $0.3 million, or $0.03 per share, for the six months ended June 30, 2008.

Results for 2008 do not include Real Goods Solar’s acquisitions of Independent Energy Systems and Regrid Power, related integration costs, nor most of the costs associated with being a public company.

“While we aren’t satisfied with any quarter in which we show a net loss, we are pleased with the progress we have made during these challenging economic times,” commented Tom McCalmont, Chief Executive Officer. “Bookings started to come alive again during the second quarter and we began to see the effects of this in our reported revenue. While the economic environment may remain challenging for quite some time, consumers are becoming increasingly compelled to move forward with solar due to the 30% federal tax credit and lower module prices. The shortened payback periods and improved returns on investment continue to accelerate the growth of the market. We believe we will see the positive effects of these factors in the third quarter with revenue growing to between $18 and $20 million. With more of this incremental growth coming from commercial installations, our gross margin for the third quarter will be lower than historical levels due to the resulting change in overall revenue mix.”

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July 27, 2009

Rising U.S. solar demand faces financing issues

Filed under: AKNS, FSLR, RSOL, SPWR, STP, YGE — Tags: , , , , — Jason @ 2:28 pm

7/27/2009 2:28:40 PM

BOULDER, COLO.: The appetite for solar projects in the United States has lagged market leaders like Germany and Spain, however increased federal and state subsidies have begun to take effect and demand for solar in certain markets like New Jersey and California is heating up, according to a new report from Pike Research.

Pike forecasts that the U.S. solar market will surpass Spain in 2009 and will top Germany by 2013. However, the firm points out that financing for solar projects remains elusive.

The weak supply of tax equity combined with heightened credit requirements has led to numerous project cancellations and delays nationwide, with over 75 MW, totaling $450 million, of idle projects in New Jersey alone, according to industry analyst George Kotzias. Kotzias said, “But the tide is beginning to turn as evidenced by Wells Fargo (WFC) and U.S. Bancorp (USB), both of which have established tax equity funds for solar projects.”

In Pike’s analysis, solar companies that stand to benefit most from a U.S. boom include First Solar (FSLR), SunPower (SPWRA, SPWRB), Suntech (STP), Yingli (YGE), Akeena (AKNS) and Real Goods Solar (RSOL).

“As soon as financing picks up, the demand is there,” Kotzias said. “In addition to the increase in subsidies, module prices have dropped by as much as 50 percent and installed costs have dropped over 30 percent over the past year.”

The Pike study notes that this combination of drivers has attracted the market entry of established developers from Europe as well as many domestic start-ups.

Pike Research is a market research and consulting firm that provides analysis of global clean technology markets.

June 5, 2009

Real Goods Solar to Install $30 Million Solar Power Program for Fremont Union High School District

Filed under: RSOL — Tags: , , — Jason @ 8:00 am

Largest Direct Purchase by a Secondary School System in North America

Friday June 5, 2009, 8:00 am EDT

CAMPBELL, Calif.–(BUSINESS WIRE)–Real Goods Solar (RSOL) announced today it has signed a contract to design and install solar electric systems totaling 3.65 megawatts for the Fremont Union High School District in Sunnyvale, Cupertino and west San Jose, California. The new solar systems will be constructed as carports at all five high schools in the District and are expected to save District taxpayers over $12 million in the total cost of electricity over the next 25 years. The five systems will contribute enough electricity to cover about 45% of the power usage of each school. This solar program, exceeding $30 million, is believed to be the largest direct purchase by a secondary school system in North America, financed by a portion of a $198M school bond approved by the District’s voters in June 2008.

The District researched many alternative energy options before choosing Real Goods Solar for these installations across school campuses. The system monitoring that Real Goods Solar provides will enable campuses to track their electricity offset in the years ahead.

Glenn Evans, COO/Associate Superintendent, stated, “Electricity is our single largest expense other than teachers and staff and we can only use school bond funds for facilities and equipment. By investing bond dollars in solar, we will save many tens of millions of dollars on electric utility bills over the coming decades and that savings will go directly into supporting educational programs and students. Real Goods Solar worked very closely with us to develop a solar power system customized to our energy needs. Solar electricity will be a huge win for everyone – for taxpayers, for students, for our community and for the environment.”

A Groundbreaking ceremony will take place at the Homestead High School site on June 9 at 12:45 p.m.

About the Fremont Union High School District:

Located in the heart of Silicon Valley and the San Francisco Bay Area in the State of California, the Fremont Union High School District currently serves over 10,000 students in a 42 square mile area covering all of the City of Cupertino, most of Sunnyvale and portions of San Jose, Los Altos, Saratoga, and Santa Clara in Santa Clara County. People move to the community because of the outstanding elementary and high school districts. The five high schools — Cupertino, Fremont, Homestead, Lynbrook, and Monta Vista — continue to hold top ranking throughout the region, state, and nation.

May 18, 2009

Solar sector rises on utility demand

Filed under: FSLR, JASO, PCG, RSOL, SOLR — Tags: , , , , — Jason @ 3:46 pm

Solar stocks rise on expectations for rising utility demand, PG&E contract, energy bill

Monday May 18, 2009, 3:46 pm EDT

NEW YORK (AP) — The solar sector soared in Monday trading as last week’s record-setting solar thermal contract from Pacific Gas & Electric (PCG) signaled continued demand from utilities.

Shares also rose ahead of the much-anticipated energy bill, which investors expect will deliver generous provisions for solar energy once passed.

Last week, California utility Pacific Gas & Electric Co. signed new solar contracts with Oakland-based BrightSource Energy for a total of 1,310 megawatts of solar thermal power, the nation’s largest solar deal.

Raymond James analyst Pavel Molchanov said the deal signals solar power’s growing mainstream acceptance by utilities. Solar thermal power is economically viable only in areas of high-sunlight and is a utility-scale technology because it is used to power large, conventional turbines, Molchanov noted.

PG&E’s “mega-deal” for solar thermal power boosts demand from utilities for photovoltaic products as well. As this trend builds momentum, utilities could offer the industry the most durable source of photovoltaic demand.

Molchanov rated GT Solar International Inc. (SOLR), JA Solar Holdings Co. (JASO) and Real Goods Solar Inc. (RSOL) “Outperform.” He also recommended buying shares of First Solar Inc. (FSLR), which he rated “Strong Buy.”

Shares of GT Solar jumped 18 cents, or 3.4 percent, to $5.55 in afternoon trading. JA Solar shares rose 5 cents to $3.16. Real Goods Solar share rose 4 cents to $2.12. Shares of First Solar climbed $7.28, or 4.1 percent, to $184.71.

Elsewhere in the industry SunPower Corp. shares increased $1.35, or 5.4 percent, to $26.40. Trina Solar shares rose 62 cents, or 3.7 percent, to $17.53. Molchanov rated both these companies “Market Perform.”

May 6, 2009

Real Goods Solar Reports First Quarter Fiscal 2009 Results

Filed under: RSOL — Tags: , , , , — Jason @ 4:24 pm

Wednesday May 6, 2009, 4:24 pm EDT

BOULDER, Colo., May 6 /PRNewswire-FirstCall/ — Real Goods Solar, Inc. (RSOL), a leading residential solar energy integrator, announced today results for its first quarter ended March 31, 2009.

Revenue for the first quarter of 2009 increased 45.1% to $9.5 million from $6.6 million recorded in the same period last year, primarily due to acquisitions.

Gross profit increased to $2.3 million, or 24.2% of revenue, for the quarter from $1.8 million, or 28.0% of revenue, in the comparable period last year. The decrease in gross margin percentage primarily reflects the consolidation of acquisitions, which have traditionally produced lower gross profit margins.

Operating expenses as a percent of revenue increased to 47.8% for the quarter, from 35.4% in the comparable period last year. This increase primarily reflects the impact of the consolidation of the acquisition of Regrid Power during the fourth quarter of 2008, integration costs related to the Company’s 2008 acquisitions, severance costs from a reduction in work force, and the incremental costs associated with being a public company.

Net loss for the first quarter was $1.4 million, or $0.08 per share, as compared to a net loss of $0.3 million, or $0.03 per share, for the same period last year.

Results for the first quarter of 2008 do not include Real Goods’ acquisitions of Independent Energy Systems and Regrid Power, related integration costs, nor any of the costs associated with being a public company.

“The first quarter is generally our slowest quarter of the year due to seasonality, winter weather and shorter installation days,” commented Tom McCalmont, Chief Executive Officer. “This effect was magnified during the first quarter of 2009 by the very challenging economic environment. However, as the sun has come out this spring and our new marketing initiatives have taken hold, we have begun to see some initial momentum in sales and we are hopeful that this trend will continue as we enter into the prime summer selling months. While our optimism remains cautious, we are encouraged by the signing of a number of significant sales contracts during the last sixty days, representing over $30 million of revenue.”

“During the first quarter we remained highly focused on acquisition integration, which included further reductions in headcount, centralization of corporate functions, standardization of products and processes, and a drive towards improved operational efficiencies,” said Erik Zech, Chief Financial Officer. “Additionally, we implemented significant improvements to the cost structure of our organization and expect to see initial benefits from these improvements during the second quarter. The continuing acquisition integration and cost saving initiatives have further positioned us to weather the recession and to drive future profitability. We also made improvements to our balance sheet during the quarter by reducing inventory and accounts receivable. As a result of these efforts, our cash position improved to $12.9 million at quarter end.”

(more…)

March 10, 2009

Real Goods Solar Reports Fourth Quarter and Fiscal 2008 Results

Filed under: RSOL — Tags: , , , , — Jason @ 4:15 pm

Tuesday March 10, 4:15 pm ET

BOULDER, Colo., March 10 /PRNewswire-FirstCall/ — Real Goods Solar, Inc. (RSOL), a leading residential solar energy integrator, announced today results for its fourth quarter and fiscal year ended December 31, 2008.

Revenue for the year ended December 31, 2008 increased 107.3% to $39.2 million from $18.9 million recorded in the same period last year, primarily due to acquisitions.

Gross profit increased to $10.4 million, or 26.6% of revenue for the year, from $6.5 million, or 34.3% of revenue in 2007. The decrease in gross margin percent primarily reflects the consolidation of the acquisitions of Marin Solar, Carlson Solar and Independent Energy Systems, which have traditionally produced lower gross profit margins.

Operating expenses as a percent of revenue increased 250 basis points year over year to 35.8% from 33.3%. This increase primarily reflects the impact of the consolidation of the acquisition of Regrid Power during the fourth quarter, integration costs related to the Company’s 2008 acquisitions, and the incremental costs associated with being a public company.

Other expenses of $27.2 million for the year represent a non-cash charge related to the impairment of goodwill and other intangible assets recorded as part of historical acquisitions. The impairment, resulting from the application of SFAS No. 142, Goodwill and Other Intangible Assets, was driven by the decline in the market price of the Company’s common shares (Nasdaq) experienced in the fourth quarter.

Net loss for the year, including the above non-cash charge, was $28.0 million, or $1.86 per share, as compared to net income of $0.1 million, or $0.01 per share, for the year ended December 31, 2007. Excluding the impairment charge (and net of a related $1.6 million tax benefit), net loss for the year would have been $2.3 million, or $0.16 per share.

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November 6, 2008

Real Goods Solar Reports Third Quarter Fiscal 2008 Results

Filed under: RSOL — Tags: , , , , — Jason @ 4:30 pm

Thursday November 6, 4:30 pm ET

Third quarter revenue increased 141% to $10.3 million

BOULDER, Colo., Nov. 6 /PRNewswire-FirstCall/ — Real Goods Solar, Inc. (RSOL), a leading residential solar energy integrator, announced today results for its third quarter ended September 30, 2008.

Revenue for the third quarter ended September 30, 2008 increased 141% to $10.3 million from $4.3 million recorded in the same period last year due to organic growth and acquisitions.

Gross profit increased to $2.8 million, or 27.2% of revenue, from $1.3 million, or 30.0% of revenue, in the comparable period last year. The decrease in gross margin reflects the acquisitions of Marin Solar and Independent Energy Systems, which have traditionally produced lower gross profit margins.

Operating expenses as a percent of revenue declined 300 basis points year over year to 31.8% from 34.8%, as we continued to see operating leverage off a larger revenue base.

Operating loss for the third quarter of 2008 was $0.5 million, or 4.6% of revenue, compared to an operating loss of $0.2 million, or 4.8% of revenue for the third quarter of 2007. While the loss improved slightly as a percentage of revenue, the loss in dollars increased to reflect Real Goods’ increased cost structure required to be a public company, significant management and operating infrastructure that has been put in place to prepare for future organic and acquisition growth, and integration costs of the new businesses that Real Goods has acquired.

Net loss for the third quarter of 2008 was $0.2 million, compared to a net loss of $0.1 million during the third quarter of 2007. Loss per share remained the same as the third quarter last year at $0.01 per share.

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October 15, 2008

Real Goods Solar Merges with Regrid Power

Filed under: RSOL — Tags: , , — Jason @ 2:13 pm

Wednesday October 15, 2:13 pm ET

BOULDER, Colo., Oct. 15 /PRNewswire-FirstCall/ — Real Goods Solar, Inc. (RSOL), a leading residential solar energy integrator, announced today that it has expanded its business through a merger with Regrid Power, Inc. of Campbell, CA. This transaction represents the Company’s fourth acquisition in less than a year. Regrid Power, Northern California’s leader in custom engineered solar electric systems primarily for residential customers, generated over $15 million of revenue and positive operating income for the twelve months ended September 30, 2008. Consideration paid, including debt assumed, was less than one times trailing twelve months revenue, and will consist of one-third cash and two-thirds stock, as well as an “earn out” provision. This strategic transaction is consistent with Real Goods’ strategy of driving profitable growth through the acquisitions of established market leaders with reputations for quality, in addition to its organic growth.

“Our interest in Regrid Power was its excellent reputation, consistently high gross margin and profitability, and especially the quality of its leadership,” said Jirka Rysavy, Real Goods’ Chairman. “We plan for Tom McCalmont, founder and CEO of Regrid Power, to become CEO of Real Goods Solar and a member of its Board of Directors during the next two months. John Schaeffer, Real Goods’ founder and current CEO, will become President, and Erik Zech, current President and CFO, will become CFO.”

“By combining our operational efficiencies and design excellence with Real Goods Solar, a solar pioneer and an industry leader, we will have an enhanced ability to scale and deliver our outstanding service to a much larger population of customers,” said Tom McCalmont, CEO of Regrid Power. “Real Goods is the original solar company and has a philosophy that is very compatible with Regrid’s.”

“This transaction establishes Real Goods as the undisputed market leader in residential solar installations, and we are very excited to integrate Regrid’s design excellence and unique power output guarantee,” said John Schaeffer, CEO of Real Goods Solar. “We are pleased to further strengthen our position in Northern California and we believe Regrid Power is a good example of how we continue to leverage our existing infrastructure with strategic acquisitions that offer an established customer base, compatible geography and realizable synergies.”

Regrid Power, Inc. custom designs and builds solar power systems that produce the optimal amount of power for each customer. Regrid Power backs their work with a performance guarantee unique in the industry, the PowerPledge. Since its founding in 2002 by Tom and Darlene McCalmont, Regrid Power has installed over 1,000 PV systems representing approximately 5MW of generating capacity, and the company demonstrates design excellence through its six NABCEP certified PV designers on staff. For more information, visit http://www.regrid.com.

October 10, 2008

Final Position Stops Out (portfolio beats S&P 500 by over 35%)

Filed under: AKNS, AMAT, ASTI, CSIQ, CSUN, DSTI, EMKR, ENER, ENSL, ESLR, FSLR, HOKU, ICPR, JASO, LDK, RSOL, SOL, SOLF, SPIR, SPWR, STP, TSL, WFR, YGE — Tags: , , — Jason @ 4:20 pm

We’re not done here by any means.  Just protecting capital.  For those who took profits earlier, you are in great shape.  For the long term holders, book your losses and prepare for a re-entry once the wash sales are clear.

The fundamentals here are still strong in most cases and the growth going forward is outstanding.  We will follow the strength when we buy back in.  What we’ve seen so far is only the beginning.

Symbol Company Name Entry Date Entry Price Exit Date Exit Price P/L $ Days P/L %
AKNS AKNS – Akeena Solar, Inc. 6/13/2007 $     3.62 9/9/2008 $     3.50 $   (0.12) 454 -3%
AMAT AMAT – Applied Materials, Inc. 6/13/2007 $    18.94 9/17/2008 $    16.00 $   (2.64) 462 -14%
ASTI ASTI – Ascent Solar Technologies, Inc. 6/13/2007 $     7.30 9/8/2008 $     7.00 $   (0.30) 453 -4%
CSIQ CSIQ – Canadian Solar Inc. 6/13/2007 $     9.71 10/3/2008 $    16.00 $    6.29 478 65%
CSUN CSUN – China Sunergy Co. Ltd. 6/13/2007 $    11.02 8/6/2007 $     8.00 $   (3.02) 54 -27%
DSTI DSTI – DayStar Technologies, Inc. 6/13/2007 $     5.13 7/25/2008 $     3.00 $   (2.13) 408 -42%
EMKR EMKR – EMCORE Corp. 1/18/2008 $    10.49 3/18/2008 $     7.00 $   (3.49) 60 -33%
ENER ENER – Energy Conversion Devices, Inc. 6/13/2007 $    30.30 10/10/2008 $    30.00 $   (0.30) 485 -1%
ESLR ESLR – Evergreen Solar, Inc. 6/13/2007 $     8.82 9/9/2008 $     7.00 $   (1.82) 454 -21%
FSLR FSLR – First Solar Inc. 6/13/2007 $    73.75 10/3/2008 $  160.00 $  86.25 478 117%
HOKU HOKU – Hoku Scientific Inc. 6/13/2007 $     4.50 10/9/2008 $     4.00 $   (0.50) 484 -11%
ICPR ICPR – ICP Solar Technologies, Inc. 6/13/2007 $     3.05 12/28/2007 $     1.00 $   (2.05) 198 -67%
JASO JASO – JA Solar Holdings, Co., Ltd. 6/13/2007 $     8.34 9/10/2008 $    12.00 $    3.66 455 44%
LDK LDK – LDK Solar Co., Ltd. 6/13/2007 $    23.43 10/6/2008 $    25.00 $    1.57 481 7%
RSOL RSOL – Real Goods Solar, Inc. 7/8/2008 $     6.00 9/9/2008 $     5.50 $   (0.76) 63 -13%
SOL SOL – ReneSola Ltd. 7/10/2008 $    13.45 9/11/2008 $    12.00 $   (1.45) 63 -11%
SOLF SOLF – Solarfun Power Holdings Co., Ltd. 6/13/2007 $     8.46 9/29/2008 $    10.00 $    1.54 474 18%
SPIR SPIR – Spire Corp. 9/13/2007 $    10.00 7/14/2008 $    10.00 $       – 305 0%
SPWR SPWR – SunPower Corp. 6/13/2007 $    53.75 10/8/2008 $    50.00 $   (3.75) 483 -7%
STP STP – Suntech Power Holdings Co. Ltd. 6/13/2007 $    32.00 10/2/2008 $    30.00 $   (2.00) 477 -6%
TSL TSL – Trina Solar Ltd. 6/13/2007 $    39.94 9/9/2008 $    25.00 $ (14.94) 454 -37%
WFR WFR – MEMC Electronic Materials 6/13/2007 $    57.28 7/10/2008 $    50.00 $   (7.28) 393 -13%
WWAT WWAT – WorldWater & Solar Technologies 3/19/2008 $     1.00 6/2/2008 $     0.70 $   (0.30) 75 -30%
YGE YGE – Yingli Green Energy Holding Co. Ltd. 11/29/2007 $    27.26 2/20/2008 $    18.00 $   (9.26) 83 -34%
Average $    1.80 345 -5%

August 19, 2008

Real Goods Solar, Inc. Selected to Implement California’s Largest Residential Solar Community Initiative

Filed under: RSOL — Tags: , , — Jason @ 1:00 pm

Tuesday August 19, 1:00 pm ET

1 Block Off the Grid – 1BOG.org – Announced Today It Has Selected Real Goods Solar, Inc., as the Solar Installation Partner to Roll out Their First Residential Solar Campaign in San Francisco, CA.

SAN FRANCISCO–(BUSINESS WIRE)–Real Goods Solar, Inc., (RSOL) a California residential solar system and green living veteran, has announced today that it was selected by 1 Block Off the Grid (www.1BOG.org), an independent consumer advocacy group, to provide turnkey residential solar system installations to its members with existing homes in San Francisco.

San Francisco based 1 Block Off the Grid is a nationwide consumer-based initiative, the largest in the country, that focuses on driving the adoption of residential renewable energy and sustainable living solutions through education and community.

“We had a tremendous response from many highly qualified solar installation companies,” says Sylvia Ventura, Founder and Managing Partner of 1BOG.org. “This first phase of 1BOG has been very encouraging and ultimately validates the community purchase model. Our decision to go with Real Goods Solar came after a thorough selection process that covered a variety of areas. Real Goods Solar scored high in each of the key areas.”

“We also wanted to make sure we selected a partner that was capable of moving rapidly so our members could benefit from the maximum potential rebates and solar incentives before they decline or expire,” says Dan Barahona, co-Founder of 1BOG.org. “We are looking forward to working closely with Real Goods Solar to build a strong foundation that will benefit the community and the industry at large.”

Real Goods Solar, now in its 31st year of selling solar and advocating green practices, will provide 1BOG members turnkey solar systems at a pre-negotiated price, including design, installation, monitoring, permitting and rebate paperwork. Real Goods Solar will also provide the new Enphase Energy Micro-inverter System, giving San Francisco homeowners the ability to log in from any location to monitor the energy their system is producing.

“We’re very pleased to be selected as the vendor of choice for 1BOG’s pioneering community purchase campaign,” said John Schaeffer, founder and CEO of Real Goods Solar. “Drawing on our experience of over 50 solar installations in San Francisco and over 2,600 in the U.S., we’re confident that we will meet and exceed San Franciscans’ expectations for going solar. 1BOG.org’s vision is aligned with our own corporate mission. We were impressed by 1 Block Off the Grid’s creative approach to addressing some of the key barriers to residential solar adoption through accessible information, community building and social tools. We look forward to implementing this incredible solar incentive program for San Francisco homeowners.”

August 18, 2008

Real Goods Solar Acquires Independent Energy Systems

Filed under: RSOL — Tags: , — Jason @ 4:08 pm

Monday August 18, 4:08 pm ET

— Expands Company’s presence into Santa Cruz and Monterey Counties
— Third acquisition in less than a year

BOULDER, Colo.–(BUSINESS WIRE)–Real Goods Solar, Inc. (RSOL), a leading residential solar energy integrator, announced today that it has expanded its solar energy integration business through the acquisition of Independent Energy Systems, Inc. (IES) of Santa Cruz, CA. This transaction represents the Company’s third acquisition in less than a year. IES, a primarily residential solar energy integrator, had approximately $6 million of revenue in 2007 and positive operating income. Consideration paid, including debt assumed, was within Real Goods Solar’s target range of paying between 50 – 60% of 2007 revenues and consistent with its strategy of driving profitable growth through the acquisition of established market leaders with reputations for quality.

“We are very excited about strengthening our position in Northern California by teaming up with an established local market leader that shares our values and is completely dedicated to the growth of solar energy,” said John Schaeffer, CEO of Real Goods Solar. “IES is a good example of leveraging our existing infrastructure with strategic acquisitions of companies that have an established loyal customer base, a good cultural fit, compatible geography and realizable synergies.”

“As the founder of Independent Energy Systems, it has always been of paramount importance to me that we install high quality, well designed systems and ensure our customers are pleased with our finished product,” said Bob Evans, Founder and President of Independent Energy Systems. “Real Goods is the original solar company, has a powerful brand and a philosophy that is very compatible with IES; all key factors in our decision to team up with John and his team. I am pleased that IES will continue to be a local company intimately connected with the Santa Cruz community, with new skills bolstered by Real Goods’ 30-year history.”

Independent Energy Systems, Inc. is the leading solar energy integrator in Santa Cruz and Monterey Counties. As a design driven company, IES had a distinct focus on strong customer relationships and installations of the highest quality. IES is also a community leader, volunteering time in solar school programs and sponsoring local and environmental events. For more information about Independent Energy Systems, please visit http://www.iesolar.com.

August 6, 2008

Real Goods Solar Reports Second Quarter Fiscal 2008 Results

Filed under: RSOL — Tags: , , — Jason @ 4:10 pm

Wednesday August 6, 4:10 pm ET

– Second quarter revenues increased 96% to $8.8 million
– Operating expenses decreased by 170 basis points

BOULDER, Colo., Aug. 6 /PRNewswire-FirstCall/ — Real Goods Solar, Inc. (RSOL), a leading residential solar energy integrator, announced today results for its second quarter ended June 30, 2008.

On May 13, 2008, Real Goods consummated its initial public offering of 5.5 million shares of its Class A common stock for total offering proceeds of $55 million, prior to underwriters commissions and offering expenses of approximately $6.8 million.

Revenue for the second quarter ended June 30, 2008 increased 95.9% to $8.8 million from $4.5 million recorded in the same period last year.

Gross profit increased to $2.6 million, or 29.8% of revenue, from $1.8 million, or 39.1% of revenue, in the comparable period last year. The decrease in gross profit percentage partially reflects the acquisition of Marin Solar, which had larger average installation sizes that traditionally produce lower gross profit margins.

Operating loss for the second quarter of 2008 was $0.1 million, or 1.5% of revenue, compared to operating income of $0.3 million, or 6.1% of revenue for the second quarter of 2007. The decrease reflects Real Goods’ increased cost structure required to be a public company as well as significant management and operating infrastructure that has been put in place to prepare for future organic and acquisition growth.

Net income decreased $0.2 million to a net loss of $27,000 during the second quarter of 2008 from net income of $0.2 million during the second quarter of 2007. Earnings per share decreased to $0.00 per share during the second quarter of 2008 compared to $0.02 per share during the same quarter last year.

For the six months ended June 30, 2008, Real Goods recorded net revenues of $15.4 million, a 73.6% increase from $8.9 million in the comparable period a year ago. Net loss totaled $0.3 million, or $0.03 per share, compared to net income of $0.2 million, or $0.02 per share, for the six months ended June 30, 2007.

Last year’s results do not include Real Goods’ acquisitions of Marin Solar and Carlson Solar which occurred in the fourth quarter of 2007 and the first quarter of 2008, respectively.

“We are pleased with the sales growth and operating results we achieved in the second quarter. Despite a soft economic environment, demand for our products remained strong,” said John Schaeffer, Chief Executive Officer. “During the quarter, we completed our initial public offering, hired a Director of Sales, and solidified and expanded our sales force and installation organization to support our future growth, while still managing to achieve moderate operating expense leverage.”

“We have an experienced management team and strong balance sheet, including $25.6 million of cash and no debt, to take advantage of attractive long-term growth opportunities,” stated Erik Zech, President and CFO. “We anticipate that a combination of a good pipeline of acquisition candidates, a highly fragmented market, increased energy prices, growing awareness of renewable sources of energy, and our strong brand and market position will result in continued sales growth.”

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July 21, 2008

GT Solar ready to fire up IPO; Hong Kong’s GCL Silicon Tech files $863 million IPO

Filed under: GCL, RSOL, SOLR — Tags: , , , — Jason @ 12:24 pm

By Steve Gelsi, MarketWatch
Last update: 12:24 p.m. EDT July 21, 2008

NEW YORK (MarketWatch) – GT Solar International awaits its highly anticipated initial public offering this week as companies from the solar-energy sector provide a flicker of life in the moribund IPO market.

With few other IPOs surfacing nowadays, investors have been receptive to deals tied to alternative energy in the wake of record oil prices and growing concern about greenhouse-gas emissions.

GT Solar, (SOLR) a Merrimack, N.H., manufacturer of equipment used to make photovoltaic wafers, plans to go public at $15.50 to $17.50 a share.

With 30.3 million shares in the IPO, GT Solar will raise about $500 million via underwriters Credit Suisse and UBS Investment Bank.

The IPO is expected to price Wednesday night for its first day of trading Thursday under the Nasdaq symbol SOLR.

Scott Sweet of IPO Boutique said the deal appears to be drawing large interest from institutional and retail investors. “This looks to be a solid IPO,” he said.

GT Solar reported net income of $36 million and revenue of $244 million for the first quarter of 2008.

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July 18, 2008

GT Solar hopes sun will come out next week

Filed under: AMAT, FSLR, LDK, RSOL, SOLR, SPWR, STP, YGE — Tags: , , , , — Jason @ 2:50 pm

Fri Jul 18, 2008 2:50pm EDT

By Phil Wahba

NEW YORK (Reuters) – GT Solar International Inc’s initial public offering, expected to be the largest ever by a U.S. solar company, is facing a surprisingly cloudy outlook.

Despite red-hot industry growth, as the price of competing energy sources soars, investors have not shown a sunny disposition toward solar energy stocks lately.

The stocks of industry leaders Suntech Power Holdings Co Ltd (STP) and Applied Materials Inc (AMAT), among others, have been cooling from March rally levels since late May. Suntech is down about 18 percent from its high in spring, while Applied Materials is down about 9 percent.

Those declines could cast a pall over GT Solar, a Merrimack, New Hampshire-based maker of the manufacturing equipment used by solar energy companies, whose IPO is scheduled for next week.

“It’ll hurt that solar stocks have been volatile,” said Samuel Snyder, a senior research analyst with Greenwich, Connecticut-based advisory firm Renaissance Capital. “But investors will see unique aspects that make GT Solar attractive.”

One of those advantages is GT Solar’s position as one of only a few makers of the manufacturing equipment used by the solar companies, analysts say.

“It’s a less fragmented arena,” said Pavel Molchanov, an alternative energy analyst with Raymond James & Associates. “The landscape is not quite as competitive.”

GT Solar’s regulatory filings also reveal a compound annual growth rate of 128 percent in the past two years that should comfort investors, with revenues of $244 million for the year ended in March.

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July 9, 2008

GT Solar’s IPO weighs in at $500 million

Filed under: RSOL — Tags: , , , , — Jason @ 1:39 pm

By Steve Gelsi, MarketWatch
Last update: 1:39 p.m. EDT July 9, 2008

NEW YORK (MarketWatch) — As the new-issues market struggles to regain its footing, GT Solar International Inc. will step up in coming weeks as the first initial public offering from the alternative-energy sector seen during the second half of 2008.

GT Solar plans to offer 30.3 million shares at a price of $15.50 to $17.50 each, in a bid to raise about $500 million via underwriters Credit Suisse and UBS Investment Bank.

The IPO isn’t on this week’s calendar, but the deal will likely begin trading on the Nasdaq this summer under the symbol SOLR.

The Merrimack, N.H.-based manufacturer of equipment used to make photovoltaic wafers reported net income of $36 million and revenue of $244 million in the first quarter of 2008.

GT Solar marks a rare entry from the world of alternative energy — and part of what’s been a meager crop of IPOs in 2008.

Tighter credit markets and fear about a recession have taken a big bite out of the going-public market. Indeed, major U.S. stock exchanges saw just 13 IPOs in the second quarter, down sharply from 57 in the year-ago period, according to a survey by Hoover’s Inc.

Real Goods Solar Inc. (RSOL) , the only solar-related firm to go public this year, priced at $10 a share on May 8, but its share price has dimmed to $6.25 since then.

Nevertheless, GT Solar’s IPO looks healthy, said Hoover’s Tim Walker.

“GT Solar isn’t likely to become a household name, but it has been building up a tidy business in an important niche,” he said. “Its revenue was less than $250 million for the last fiscal year, which will hardly make it a rock star in IPO terms.

“Still, it quintupled revenues over the past two years, and it turned a nice profit last year. In the current IPO market, that might be enough to make GT Solar an appealing prospect for antsy investors who have been starved of anything good to buy.”

July 8, 2008

Real Goods Solar Entry

Filed under: RSOL — Tags: , — Jason @ 4:20 pm

RSOL – Real Goods Solar, Inc.

Entry Price $6.00 7/8/08

Stop Loss $5.50 Hit 9/9/08

Loss of $0.76 or 12.7%

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