Hoku Scientific reports $905,000 loss
Hoku Scientific Inc. reported it lost $905,000 on revenue of $74,000 during the three months ended June 30, as it continued to look for more funding for a polysilicon plant being built in Idaho.
The Honolulu-based companys loss compared to a profit of $178,000 on revenue of $2.2 million a year earlier.
Hoku reiterated its efforts to obtain the remaining $106 million to $121 million of financing needed to complete its $390 million plant. It said it has identified a number of potential sources for the money but evaluating all of its options and negotiating a deal may take several months.
In the meantime the company has slowed construction on the facility and also retained Deutsche Bank Securities to look at a possible sale or merger options for Hoku.
The company said most of its revenue during the quarter came from installation of photovoltaic systems in Hawaiçi.