Hoku Scientific Inc., a Kapolei-based technology company, lost $1.7 million, or 11 cents a share, in the fiscal fourth quarter, compared with a profit of $508,000, or 3 cents a share, in the year-ago period.

For the fiscal year ended March 31, Hoku reported a loss of $2.4 million, or 14 cents a share, compared with a gain of $1.3 million, or 9 cents a share, in the previous fiscal year.

Hoku said the quarterly and full-year losses were primarily due to the lower gross margins from fuel cell contracts in the first quarter compared with the same period a year earlier, as well as increased spending related to the company's expansion into the polysilicon and solar module markets.

Hoku in March broke ground on a $260 million polysilicon production plant in Idaho. Officials from Hoku and the city of Pocatello signed a 99-year agreement on the 67-acre site. The plant will be operated by a Hoku subsidiary, Hoku Materials.

Hoku said it expects to finish construction in the second half of 2008, with polysilicon shipments planned for the first half of 2009. Polysilicon is a key material in the production of solar cells and integrated circuits.

The company said revenue fell to $1.1 million in the first quarter from $1.3 million in the same period a year ago. Full-year revenue fell to $5.4 million from $5.5 million a year earlier.

Hoku said it expects revenue for the current first quarter will be in the range of $1 million to $1.3 million, and for the full year $7 million to $10 million.

Shares of Hoku fell 10 cents, or 2 percent, to close at $5.04 a share on the Nasdaq market.