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Related QuotesSPIR 14 3/16 +1 5/8
delayed 20 mins - disclaimerGet QuotesMonday August 14, 5:06 pm Eastern Time
Press Release
Spire Corporation Reports Second Quarter 2000 Results
BEDFORD, Mass.--(BUSINESS WIRE)--Aug. 14, 2000--Spire Corporation, (Nasdaq: SPIR - news), which provides products and services to solar and biomedical markets worldwide, today reported revenues and results of operations for the three and six month periods ended 30 June 2000.
Spire Corporation reported revenues of $3,159,000 for the quarter compared with $2,682,000 for the quarter ended 30 June 1999. Net loss for the quarter was $266,000 or $0.08 per share compared to a net loss of $558,000 or $0.17 per share for the same quarter of 1999. Revenues for the six month period ended 30 June 2000 were $7,691,000 compared to $6,499,000 for the six month period ended 30 June 1999. Net profit for the six month period was $1,000 or $0.00 per share compared to a net loss of $707,000 or $0.22 per share for the same six month period of 1999.
Roger G. Little, President and CEO of Spire Corporation, said, ``Although our sales were 18% greater than they were last year on a quarter to quarter basis, they were less than we expected due to delays experienced in orders for PV systems from Spire Solar Chicago and performance delays by a subcontractor under our R&D contracts. Also during this period, we continued to invest in our Solar and Biomedical businesses, including start up costs associated with our Chicago operations. We are optimistic that revenues and profitability will grow for both businesses.''
Spire Solar
``During this quarter, we shipped equipment both domestically and internationally and began the manufacture of the equipment line which will be used by Spire Solar Chicago. Because of the delay in availability of the building to be provided by the City of Chicago, we entered into a lease agreement for temporary space in Chicago located at 2041 West Carroll Street, Suite C-128. This space will be used to house the equipment which we are building and plan to ship later this year and will allow us to begin manufacturing modules for ComEd, while we work with the City on permanent space currently under design by the City. We also announced during the quarter, the plan to work with the City and ComEd to deploy a 500 kW photovoltaic system on a reclaimed industrial landfill on Chicago's South Side, converting a ''brownfield`` to a ''Solar Brightfield(TM)``. Two other Chicago PV orders received this quarter were for the Nature Museum and the Shedd Aquarium.''
``Spire Solar uses its core photovoltaic module manufacturing equipment and technology to market PV module factories to utilities and other energy industry participants to take advantage of the opportunities created by utility deregulation and environmental cleanup in the United States and offers energy industry companies worldwide the opportunity to participate in this growing industry.''
Spire Biomedical
``Spire Biomedical continues to experience increasing demand for its processing services. As a result, steps were taken in the quarter ended 30 June 2000 to increase production capacity.''
Spire operates in two independent divisions as a leader providing products and services in two different market segments. Spire Solar is the world's largest supplier of photovoltaic manufacturing equipment, technology, and turn-key production lines for the assembly of terrestrial photovoltaic modules from solar cells, with equipment in 144 customer facilities in 39 countries worldwide. Spire Biomedical improves the performance of implantable medical devices through surface engineering treatments.
Certain matters discussed in this News Release may be forward-looking statements subject to risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements. Such risks and uncertainties include, but are not limited to, the risk of dependence on government agencies and other third parties for funding contract research and services, as well as other factors described in the Company's Form 10-KSB filed with the Securities and Exchange Commission.
-0-
SPIRE CORPORATION AND SUBSIDIARY
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
Three Months Ended Six Months Ended
June 30 June 30,
2000 1999 2000 1999
Net sales and
revenues $ 3,159,000 $ 2,682,000 $ 7,691,000 $ 6,499,000
Loss from operations (590,000) (537,000) (242,000) (659,000)
Earnings (loss)
before income taxes (472,000) (558,000) 1,000 (707,000)
Income tax
expense (benefit) (206,000) -- -- --
Net earnings
(loss) $ (266,000) $ (558,000) $ 1,000 $ (707,000)
Earnings (loss)
per share of
common stock
- basic $ (0.08) $ (0.17) $ 0.00 $ (0.22)
Earnings (loss)
per share of
common stock
- diluted $ (0.08) $ (0.17) $ 0.00 $ (0.22)
Weighted average
number of common
and common equivalent
shares outstanding
- basic 3,313,840 3,244,183 3,303,211 3,243,945
Weighted average
number of common
and common equivalent
shares outstanding
- diluted 3,313,840 3,244,183 3,383,765 3,243,945
SUMMARY OF CONDENSED CONSOLIDATED BALANCE SHEETS
June 30, December 31,
2000 1999
Assets
Current assets $12,075,000 $15,229,000
Net property and equipment 2,135,000 2,019,000
Other assets 110,000 115,000
Total assets $14,320,000 $17,363,000
Liabilities and Stockholders' Equity
Current liabilities $ 2,299,000 $ 5,511,000
Stockholders' equity 12,021,000 11,852,000
Total liabilities and
stockholders' equity $14,320,000 $17,363,000
--------------------------------------------------
Contact:
Spire Corporation
Richard S. Gregorio, 781/275-6000
Vice President & Chief Financial Officer
Spire Corporation Reports Third Quarter 2000 Results
TUESDAY, NOVEMBER 14, 2000 4:48 PM
- BusinessWire
BEDFORD, Mass., Nov 14, 2000 (BUSINESS:SPIR), which provides products and services to solar and biomedical markets worldwide,
today reported revenues and results of operations for the three and nine month periods ended 30 September 2000.
Financial Results
Spire Corporation reported revenues of $2,826,000 for the quarter compared with $2,722,000 for the quarter ended 30 September
1999. Net loss for the quarter was $127,000 or $0.04 per share compared to a net loss of $862,000 or $0.27 per share for the same
quarter of 1999. Revenues for the nine month period ended 30 September 2000 were $10,517,000 compared to $9,221,000 for the
nine month period ended 30 September 1999. Net loss for the nine month period was $127,000 or $0.04 per share compared to a
net loss of $1,570,000 or $0.48 per share for the same nine month period of 1999.
Roger G. Little, President and CEO of Spire Corporation, said, "During this quarter, we continued to transition out of our
optoelectronics research and development contract activities. We solidified both our solar and biomedical commercial businesses and
are now investing in the future. While sales increased a modest 4% for the quarter and 15% year-to-date compared to last year, our
sales mix has changed and our cost structure has been greatly reduced. This has resulted in a significant reduction in losses
compared to a year ago."
"We have begun to ship PV products out of our Spire Solar Chicago operations, installing over $300,000 in systems this quarter. We
had anticipated booking approximately $400,000 in sales of PV manufacturing equipment purchased by our partner BP Solarex for
our Chicago factory. However, the Company has not yet recognized any revenue, as the criteria for revenue recognition has not yet
been met."
Recent Corporate Actions
On October 25, 2000, Spire made an important corporate change that bears on the futures of both businesses. Spire announced that
it formed "Spire Biomedical Inc." as a wholly-owned subsidiary and declared a dividend of one share of Spire Corporation common
stock for each outstanding share.
Roger Little said, "Separating Spire into two autonomous, market-driven entities is part of our continuing plan to focus Spire as a `pure
play' in the solar energy industry to increase stockholder value. It has been difficult for the financial markets to understand our
Company with totally-different businesses. This focus began with the sale of our optoelectronic assets at the end of last year. Now,
with its own identity, Spire Biomedical can more easily pursue its own corporate development activities, strategic partnerships, and
acquire its own capital."
The dividend will be distributed on December 22, 2000, to shareholders of record on November 22, 2000. Included in the dividend are
552,160 shares of treasury stock that the Company now holds. The stock dividend increases Spire's float to make it easier for
institutions and individual investors to purchase stock.
Spire Solar Activities
Spire Solar uses its core PV module manufacturing technology to focus on providing equipment, turnkey factories, and solar energy
businesses to customers worldwide.
Mr. Little said, "The growth of our fundamental commercial business of PV equipment is consistent with market trends. However, we
are investing in new product development, marketing, and building a stronger staff to take the Company to new levels of revenue
generation and profitability. Investments were particularly heavy in start-up costs for our Spire Solar Chicago operations."
Spire is also investing in its core technology of PV module manufacturing equipment to maintain its position as the world leader. Spire
continues to cost share on its $3 million Department of Energy equipment development contract and has begun to market new
equipment developed under that program. Among other equipment orders, Spire has recently received an order from Siemens Solar
for manufacturing equipment totaling about $1 million. Spire has also added new staff in equipment engineering and manufacturing.
Mr. Little further said, "Spire Solar Chicago was established with a guaranteed $8 million market from the City of Chicago and ComEd,
the local utility. This market opportunity has more than doubled by leveraging the state program for PV system purchases and the
announcement by ComEd that a Solar Brightfield array will be put on a local brownfield. To prepare for this growth, Spire has invested
in building up engineering, marketing, and manufacturing staff in Chicago."
"We have added key marketing staff to lead Spire's efforts to establish other "Spire Solar Chicago's" in other cities throughout the
United States by partnering with local utilities to convert environmental brownfields into Solar Brightfields. This takes advantage of new
opportunities created by electric utility deregulation and the demand for clean, reliable power."
Spire Biomedical Activities
Spire Biomedical uses its core surface and materials technologies to provide products and services for improved implantable medical
devices with a focus on orthopedics.
Mr. Little said, "Spire Biomedical has been adding to its infrastructure in the form of key staff and investing in new capital equipment to
increase its production capacity for our IonGuard(TM) orthopedic surface treatments because of a growing market. Spire Biomedical
received ISO-9001 certification, demonstrating the Company's commitment to provide its customers with the highest quality processing
services."
"In order to achieve the growth rate that we are targeting, Spire Biomedical is investing in developing a new generation of tissue
engineering surface treatments for the orthopedic market. These treatments result in bone integration of prosthetic devices and
eventually may even be able to cause new tissue to grow."
About Spire Corporation
Spire Corporation is the world's largest supplier of photovoltaic module manufacturing equipment, turnkey production lines, and solar
energy businesses with equipment in 144 customer facilities in 39 countries worldwide. Spire Biomedical is a leader in providing
surface treatments to orthopedic and other implantable medical devices to improve their performance in the body.
Certain matters discussed in this News Release may be forward-looking statements subject to risks and uncertainties that could cause
actual results to differ materially from those indicated in the forward-looking statements. Such risks and uncertainties include, but are
not limited to, the risk of dependence on government agencies and other third parties for funding contract research and services, as
well as other factors described in the Company's Form 10-KSB filed with the Securities and Exchange Commission.
Visit our web site at www.spirecorp.com.
SPIRE CORPORATION AND SUBSIDIARY
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
Three Months Ended Nine Months Ended
September 30, September 30,
2000 1999 2000 1999
Net sales
and revenues $2,826,000 $2,722,000 $10,517,000 $ 9,221,000
Loss from
operations (546,000) (829,000) (788,000) (1,488,000)
Loss before
income taxes (426,000) (862,000) (425,000) (1,570,000)
Income tax
expense (benefit) (299,000) -- (299,000) --
Net loss $ (127,000) $ (862,000) $ (127,000) $(1,570,000)
Loss per
share of
common stock
- basic $ (0.04) $ (0.27) $ (0.04) $ (0.48)
Loss per
share of
common stock
- diluted $ (0.04) $ (0.27) $ (0.04) $ (0.48)
Weighted average
number of common
and common
equivalent
shares
outstanding
- basic 3,318,317 3,245,016 3,307,743 3,244,266
Weighted average
number of common
and common
equivalent
shares
outstanding
- diluted 3,318,317 3,245,016 3,307,743 3,244,266
SUMMARY OF CONDENSED CONSOLIDATED BALANCE SHEETS
September 30, December 31,
2000 1999
Assets
Current assets $13,082,000 $15,229,000
Net property and equipment 2,161,000 2,019,000
Other assets 118,000 115,000
Total assets $15,361,000 $17,363,000
Liabilities and Stockholders' Equity
Current liabilities $ 3,413,000 $ 5,511,000
Stockholders' equity 11,948,000 11,852,000
Total liabilities and
stockholders' equity $15,361,000 $17,363,000
CONTACT: Spire Corporation
Richard S. Gregorio
Vice President & Chief Financial Officer
781-275-6000
URL: http://www.businesswire.com
Today's News On The Net - Business Wire's full file on the Internet
with Hyperlinks to your home page.
Copyright (C) 2000 Business Wire. All rights reserved.
Die -20% wahrsscheinlich weil alle auf die Earnings gewartet haben. Waren für den 13. angekündigt.
Spire Corporation Reports Third Quarter 2000 Results
BEDFORD, Mass.--(BUSINESS WIRE)--Nov. 14, 2000--Spire Corporation, (NASDAQ: SPIR - news), which provides products and services to solar and biomedical markets worldwide, today reported revenues and results of operations for the three and nine month periods ended 30 September 2000.
Financial Results
Spire Corporation reported revenues of $2,826,000 for the quarter compared with $2,722,000 for the quarter ended 30 September 1999. Net loss for the quarter was $127,000 or $0.04 per share compared to a net loss of $862,000 or $0.27 per share for the same quarter of 1999. Revenues for the nine month period ended 30 September 2000 were $10,517,000 compared to $9,221,000 for the nine month period ended 30 September 1999. Net loss for the nine month period was $127,000 or $0.04 per share compared to a net loss of $1,570,000 or $0.48 per share for the same nine month period of 1999.
Roger G. Little, President and CEO of Spire Corporation, said, ``During this quarter, we continued to transition out of our optoelectronics research and development contract activities. We solidified both our solar and biomedical commercial businesses and are now investing in the future. While sales increased a modest 4% for the quarter and 15% year-to-date compared to last year, our sales mix has changed and our cost structure has been greatly reduced. This has resulted in a significant reduction in losses compared to a year ago.''
``We have begun to ship PV products out of our Spire Solar Chicago operations, installing over $300,000 in systems this quarter. We had anticipated booking approximately $400,000 in sales of PV manufacturing equipment purchased by our partner BP Solarex for our Chicago factory. However, the Company has not yet recognized any revenue, as the criteria for revenue recognition has not yet been met.''
Recent Corporate Actions
On October 25, 2000, Spire made an important corporate change that bears on the futures of both businesses. Spire announced that it formed ``Spire Biomedical Inc.'' as a wholly-owned subsidiary and declared a dividend of one share of Spire Corporation common stock for each outstanding share.
Roger Little said, ``Separating Spire into two autonomous, market-driven entities is part of our continuing plan to focus Spire as a `pure play' in the solar energy industry to increase stockholder value. It has been difficult for the financial markets to understand our Company with totally-different businesses. This focus began with the sale of our optoelectronic assets at the end of last year. Now, with its own identity, Spire Biomedical can more easily pursue its own corporate development activities, strategic partnerships, and acquire its own capital.''
The dividend will be distributed on December 22, 2000, to shareholders of record on November 22, 2000. Included in the dividend are 552,160 shares of treasury stock that the Company now holds. The stock dividend increases Spire's float to make it easier for institutions and individual investors to purchase stock.
Spire Solar Activities
Spire Solar uses its core PV module manufacturing technology to focus on providing equipment, turnkey factories, and solar energy businesses to customers worldwide.
Mr. Little said, ``The growth of our fundamental commercial business of PV equipment is consistent with market trends. However, we are investing in new product development, marketing, and building a stronger staff to take the Company to new levels of revenue generation and profitability. Investments were particularly heavy in start-up costs for our Spire Solar Chicago operations.''
Spire is also investing in its core technology of PV module manufacturing equipment to maintain its position as the world leader. Spire continues to cost share on its $3 million Department of Energy equipment development contract and has begun to market new equipment developed under that program. Among other equipment orders, Spire has recently received an order from Siemens Solar for manufacturing equipment totaling about $1 million. Spire has also added new staff in equipment engineering and manufacturing.
Mr. Little further said, ``Spire Solar Chicago was established with a guaranteed $8 million market from the City of Chicago and ComEd, the local utility. This market opportunity has more than doubled by leveraging the state program for PV system purchases and the announcement by ComEd that a Solar Brightfield array will be put on a local brownfield. To prepare for this growth, Spire has invested in building up engineering, marketing, and manufacturing staff in Chicago.''
``We have added key marketing staff to lead Spire's efforts to establish other ''Spire Solar Chicago's`` in other cities throughout the United States by partnering with local utilities to convert environmental brownfields into Solar Brightfields. This takes advantage of new opportunities created by electric utility deregulation and the demand for clean, reliable power.''
Spire Biomedical Activities
Spire Biomedical uses its core surface and materials technologies to provide products and services for improved implantable medical devices with a focus on orthopedics.
Mr. Little said, ``Spire Biomedical has been adding to its infrastructure in the form of key staff and investing in new capital equipment to increase its production capacity for our IonGuard(TM) orthopedic surface treatments because of a growing market. Spire Biomedical received ISO-9001 certification, demonstrating the Company's commitment to provide its customers with the highest quality processing services.''
``In order to achieve the growth rate that we are targeting, Spire Biomedical is investing in developing a new generation of tissue engineering surface treatments for the orthopedic market. These treatments result in bone integration of prosthetic devices and eventually may even be able to cause new tissue to grow.''
About Spire Corporation
Spire Corporation is the world's largest supplier of photovoltaic module manufacturing equipment, turnkey production lines, and solar energy businesses with equipment in 144 customer facilities in 39 countries worldwide. Spire Biomedical is a leader in providing surface treatments to orthopedic and other implantable medical devices to improve their performance in the body.
Certain matters discussed in this News Release may be forward-looking statements subject to risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements. Such risks and uncertainties include, but are not limited to, the risk of dependence on government agencies and other third parties for funding contract research and services, as well as other factors described in the Company's Form 10-KSB filed with the Securities and Exchange Commission.
Visit our web site at www.spirecorp.com.
SPIRE CORPORATION AND SUBSIDIARY
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
Three Months Ended Nine Months Ended
September 30, September 30,
2000 1999 2000 1999
Net sales
and revenues $2,826,000 $2,722,000 $10,517,000 $ 9,221,000
Loss from
operations (546,000) (829,000) (788,000) (1,488,000)
Loss before
income taxes (426,000) (862,000) (425,000) (1,570,000)
Income tax
expense (benefit) (299,000) -- (299,000) --
Net loss $ (127,000) $ (862,000) $ (127,000) $(1,570,000)
Loss per
share of
common stock
- basic $ (0.04) $ (0.27) $ (0.04) $ (0.48)
Loss per
share of
common stock
- diluted $ (0.04) $ (0.27) $ (0.04) $ (0.48)
Weighted average
number of common
and common
equivalent
shares
outstanding
- basic 3,318,317 3,245,016 3,307,743 3,244,266
Weighted average
number of common
and common
equivalent
shares
outstanding
- diluted 3,318,317 3,245,016 3,307,743 3,244,266
SUMMARY OF CONDENSED CONSOLIDATED BALANCE SHEETS
September 30, December 31,
2000 1999
Assets
Current assets $13,082,000 $15,229,000
Net property and equipment 2,161,000 2,019,000
Other assets 118,000 115,000
Total assets $15,361,000 $17,363,000
Liabilities and Stockholders' Equity
Current liabilities $ 3,413,000 $ 5,511,000
Stockholders' equity 11,948,000 11,852,000
Total liabilities and
stockholders' equity $15,361,000 $17,363,000
sondern mehr Maschinen zur Produktion von Zellen + Wavern. Aber in Chicago fertigen sie auch selber
Die Range kann man sich sehr schön unter http://www.spirecorp.com anschauen.
Ich habe heute Untersuchungen gelesen über SPIR und den PV Markt in den nächsten 5 Jahren. Ich denke das Ding kommt mal in die "evtl. langfrist Ecke"...kommt auf das Management an. Kann man noch nicht so richtig einschätzen wg. der Geschäftsfeldveränderungen und der Chicago Investition. Ich hoffe aber die lohn...und auch der Siemens Auftrag für 1Mio.$...:-)
pushpushpush...man möge mir vergeben.
Now look at it....'in pieces'! ist einer der letzten Beiträge bei www.clearstation.com
im 3-Monatschart hier ist der MACD noch unter Null,der RSI bei fast 70,auch die Stochastic ist bereits gestiegen.Spir will offenbar den Solarenergiebereich von der Biotechnologie erst noch trennen ,bestenfalls Watchlist