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Spire Corporation Reports Third-Quarter 2010 Results

BUSINESSWIRE - BEDFORD, Mass.--(BUSINESS WIRE)--Spire Corporation (Nasdaq: SPIR), a global solar company providing capital equipment and turn-key manufacturing lines to produce photovoltaic (PV) modules and providing Engineering, Procurement and Construction (EPC) integration services for solar systems, today reported revenues from continuing operations for the third-quarter ended September 30, 2010 of $20.6 million, a 24.6% increase from $16.6 million for the same quarter of 2009. Net loss for the third-quarter of 2010 was $915 thousand, or $(0.11) per share, compared with a net loss of $3.5 million, or $(0.42) per share for the third-quarter of 2009. Included in the operating results for the three month period ended September 30, 2009 was a loss of $1.2 million, or $(0.15) per share from the Company’s Medical Products Business unit which has been classified as a discontinued operation.

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Print November 12, 2010, 10:57 (CET)
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Revenues from continuing operations for the nine months ended September 30, 2010 were $61.9 million, a 23% increase from $50.1 million for the same nine month period in 2009. Net loss for the nine months ended September 30, 2010 was $208 thousand, or $(0.03) per share compared with a net loss of $9.6 million, or $(1.15) per share, for the same period in 2009. These results include a net gain of $1.5 million or $0.18 per share and a net loss of $1.6 million, or $(0.20) per share, for the nine month period ended September 30, 2010, and 2009, respectively, from the Company’s Medical Products Business unit which has been classified as a discontinued operation.

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