AstroPower Inc. (Newark, DE) reported its second-quarter financial results. For the quarter ended June 30, 2001, total revenues were a record $16,066,000, an increase of 34.9 percent from the 2000 second quarter. Product revenues for the three months ended June 30, 2001, were a record $15,295,000, an increase of 38.6 percent from the three months ended June 30, 2000. For the three months ended June 30, 2001, net income was $1,655,000 or $0.11 per share, on a diluted basis on 15.6-million weighted average shares outstanding. In comparison, there was a net income of $957,000, or $0.08 per share, on a diluted basis on 12.7-million weighted average shares in the year-earlier period.
For the six months ended June 30, 2001, total revenues were a record $30.4 million, an increase of 36.1 percent from the comparable 2000 period. Product revenues for the six months ended June 30, 2001, were $28.9 million, an increase of 39.4 percent from the six months ended June 30, 2000.
Commenting on the quarter, President and CEO Dr. Allen Barnett said, "We are pleased to once again report record results as we continue to increase our manufacturing capacity."
