Spire Corp. Reports Q3 RevenuesNovember 21, 2000 by Jeff Shepard
Spire Corp. (Bedford, MA) reported revenues and results of operations for the three- and nine-month periods ended 30 September 2000. Revenues for this quarter were $2,826,000, 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, commented, “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 percent for the quarter and 15 percent 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."