Posted at 12:50 p.m., Tuesday, October 23, 2007
Hoku Scientific reports 87% drop in quarterly revenue
Advertiser Staff
Kapolei-based Hoku Scientific Inc. today said revenue for the quarter ending Sept. 30 fell 87 percent to $239,000 from $1.9 million the same quarter a year earlier.Revenue for first half of the fiscal year fell 58 percent to $1.3 million from $3.1 million in the year-ago period. Hoku attributed the declines to the completion the Nissan Motor Co. contracts in 2006 and a lack of similar contracts in 2007.
Hoku, which is building a polysilicon production facility in Idaho, lost $1 million, or or 6 cents a share in the latest quarter, compared with a profit of $303,000, or 2 cents a share, in the same quarter a year earlier.
Through the first six months of the fiscal year Hoku lost $1.7 million, 10 cents a share, compared with a gain of $616,000, or 4 cents a share, for the same period in 2006.
Shares of Hoku closed up 35 cents at $9.73 a share on the Nasdaq Stock Market today.
