16.11.2005: Meldung: Spire Corp.: Third Quarter and Year To Date 2005 Results
Monday November 14, 5:21 pm ET
-- Year to date net sales and revenues increased 23% year to year. -- Year to date earnings were $0.24 per basic share.
BEDFORD, Mass.-- Nov. 14, 2005--Spire Corporation (Nasdaq: SPIR - News) today reported total net sales and revenues of $4,482,000 for the three months ended September 30, 2005, an increase of 20% compared to $3,728,000 for the three months ended September 30, 2004. Net loss was $1,429,000 or $0.20 per basic share for the three months ended September 30, 2005, compared with a net loss of $1,798,000 or $0.26 per basic share for the three months ended September 30, 2004.
Total net sales and revenues for the nine months ended September 30, 2005 were $16,009,000, an increase of 23% compared to $13,016,000 for the nine months ended September 30, 2004. In addition, the Company recognized $6,320,000 and $3,000,000 of other income in 2005 and 2004, respectively, on the sale of licenses. Net earnings, including the gain on the sale of licenses in both 2005 and 2004, were $1,689,000 or $0.24 per basic share for the nine months ended September 30, 2005, compared with a net loss of $1,898,000 or $0.28 per basic share for the nine months ended September 30, 2004.
Roger G. Little, Chairman and CEO, said, "Highlights for the quarter and year to date results included significant revenue increases in our contract R&D, Bandwidth Semiconductor, solar equipment and hemodialysis catheter product lines. These increases were substantially offset by a decrease in our solar system revenues for both periods. Net loss for the three months decreased primarily due to a gain recognized on the extinguishment of the unearned purchase discount associated with our Chicago operation. Net earnings for the nine months were $1.7 million compared with a net loss of $1.9 million in 2004 primarily due to the gain on the sale of licenses."
"As of September 30, 2005, cash was approximately $5.4 million, total assets were in excess of $20 million and we had no bank debt. Net worth at the close of the quarter was $10,800,000. We continue to see increased interest in our core product lines and continue to monitor our operating costs in order to keep them in line with our sales activity," concluded Roger Little.
About Spire Corporation
Spire Corporation is a diversified technology company providing innovative solar energy manufacturing equipment, biomedical devices and optoelectronic components, all based upon a common technology platform. For more information, visit www.spirecorp.com.
James F. Parslow, 781-275-6000
Chief Financial Officer
Source: Spire Corporation