Solar EnerTech Corp. Announces Fourth Quarter and Fiscal Year End 2010 Financial Results
MOUNTAIN VIEW, Calif. , Dec. 17, 2010 /PRNewswire-Asia-FirstCall/ — Solar EnerTech Corp. (OTC Bulletin Board: SOEN) (the “Company”) today announced financial results for the fourth quarter and fiscal year ended September 30, 2010 .
Fourth Quarter 2010 Highlights:
- Shipments for the fourth quarter 2010 increased 87% to 9.86MW from 5.26MW in the fourth quarter of the prior year.
- Revenue for the fourth quarter 2010 was $18.2 million , representing an increase of 38% over the $13.2 million of revenue booked in the fourth quarter of the prior year.
Fiscal Year 2010 Highlights:
- Shipments for fiscal year 2010 increased 233% to 34.92MW from 10.50MW in the prior year.
- Revenue for fiscal year 2010 was $70.0 million , representing an increase of 113% over the prior year.
- Gross Profit for fiscal year 2010 was $5.2 million , compared to a loss of $1.0 million in the prior year.