Spire Corporation (Nasdaq: SPIR) has entered into a joint venture with KUKA Schweissanlagen GmbH, of Germany, to combine its machine technology to address the growing demand for fully automated large-scale photovoltaic (PV) manufacturing lines. The Agreement should accelerate the integration of KUKA’s automation expertise with Spire’s expertise in module manufacturing equipment to produce fully automated, high throughput facilities for the expanding PV industry.
They are currently developing a 100 MW manufacturing line.
Spire reported a 10% decrease in revenues for 2006 – $20.13 million down from $22.42 million for 2005. Net loss for 2006 was $8,151,000, or $1.03 per share, compared with net income of $44,000, or $0.01 per share, for 2005.
Spire’s revenues for the fourth quarter ended December 31, 2006 were $5.06 million, a decrease of 21% from $6.41 million in the fourth quarter of 2005. Net loss for the quarter was $2,126,000, or $0.26 per share, compared to a net loss of $1,645,000 or $0.23 per share for the fourth quarter of 2005. At year end, Spire had $4.6 million in unrestricted cash and short-term investments.
Roger G. Little, Chairman and CEO, said, “The 2006 revenue decline was principally due to Spire Solar selling less solar manufacturing equipment due to a slow down in the solar industry growth. Concerns about polysilicon supply led to delays in the capital expansion plans of a number of large manufacturers and new startups. However, Spire Solar did sell equipment to the thin film photovoltaic (PV) manufacturers. They made considerable investments taking advantage of the market opportunity. Toward the end of the year concerns of the polysilicon shortage were lessened because of all the new capacity announcements. Since then, we received several new orders from new startups that have not yet contributed to our sales line.”
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