Spire Corporation (Nasdaq: SPIR) has reported revenues of $3,895,000 for the three months ended June 30, 2006, compared to $7,347,000 for the three months ended June 30, 2005. Net loss was $2,081,000 or $0.26 per basic share for the three months ended June 30, 2006, compared with net income, including the gain on the sale of licenses, of $4,698,000 or $0.69 per basic share for the three months ended June 30, 2005.
Revenues for the six months ended June 30, 2006, were $9,268,000, compared to $11,527,000 for the six months ended June 30, 2005. Net loss was $4,085,000 or $0.54 per basic share for the six months ended June 30, 2006, compared with net income, including the gain on the sale of licenses, of $3,118,000 or $0.45 per basic share for the six months ended June 30, 2005.
Roger G. Little, Chairman and CEO of Spire, said, “This was a tough quarter in comparison to last year. We delivered one major equipment line during first six months compared with two major equipment lines and one major solar system for the same period last year. We have experienced certain delays in customer purchases of our solar equipment due to the current industry shortage of polysilicon; however, we are seeing higher margins.”
Mr. Little concluded, “This quarter we completed a private placement of equity to strengthen our balance sheet that provided $7.7 million of added working capital to fund the next stage in the Company’s growth. Our biomedical device business received market clearance from the Food and Drug Administration for a next-generation, coated hemodialysis catheter.”
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