Please do not leave this page until complete. This can take a few moments.
STR Holding’s third quarter results showed a 78 percent decline in net income for the third quarter. It continues the Enfield solar components manufacturer’s ongoing profits losses.
Operating income for the third quarter showed a loss of $5.75 million, or 32 cents per share, compared to a loss of $3.2 million, or 37 cents per diluted share, a year earlier. The company said in announcing its results all prior year share amounts and per share amounts have been adjusted to reflect the one-for-three reverse stock split that took place on Jan. 30, 2015.
Robert S. Yorgensen, chairman, president and CEO, said in the earnings statement, "We have been successful recently in configuring our products for the Chinese module manufacturing market and as a result, have seen a significant increase in demand early in the fourth quarter. Our primary challenge has therefore shifted from a lack of sales volume to a shortage of capacity within China and we are actively addressing that challenge.”
In October, after its stock was suspended from the New York Stock Exchange, STR Holdings Inc. shifted its stock to the highest tier of the OTC Markets Group. Also in October it entered into a factoring agreement to sell, with recourse, certain European, U.S., and other foreign company-based receivables to Eurofactor Hispania S.A.U. It allowed the company to receive up to 1 million Euros in advance funds against future receivables.
Read more
The Hartford Business Journal 2025 Charity Event Guide is the annual resource publication highlighting the top charity events in 2025.
Learn moreHartford Business Journal provides the top coverage of news, trends, data, politics and personalities of the area’s business community. Get the news and information you need from the award-winning writers at HBJ. Don’t miss out - subscribe today.
SubscribeDelivering vital marketplace content and context to senior decision-makers throughout Connecticut ...
All Year Long!
The Hartford Business Journal 2025 Charity Event Guide is the annual resource publication highlighting the top charity events in 2025.
Hartford Business Journal provides the top coverage of news, trends, data, politics and personalities of the area’s business community. Get the news and information you need from the award-winning writers at HBJ. Don’t miss out - subscribe today.
Delivering vital marketplace content and context to senior decision-makers throughout Connecticut ...
All Year Long!
In order to use this feature, we need some information from you. You can also login or register for a free account.
By clicking submit you are agreeing to our cookie usage and Privacy Policy
Already have an account? Login
Already have an account? Login
Want to create an account? Register
In order to use this feature, we need some information from you. You can also login or register for a free account.
By clicking submit you are agreeing to our cookie usage and Privacy Policy
Already have an account? Login
Already have an account? Login
Want to create an account? Register
This website uses cookies to ensure you get the best experience on our website. Our privacy policy
To ensure the best experience on our website, articles cannot be read without allowing cookies. Please allow cookies to continue reading. Our privacy policy
0 Comments