2011, a challenging year for Day4 Energy

"2011 was a very challenging year for the entire PV industry. Unfortunately we are not immune to these challenges. Sudden adverse changes in government policies towards solar energy in some of the key markets have combined with global PV hardware over-supply to create perhaps the most difficult PV market since the global financial crisis of late 2008. What is further concerning is that the outlook for 2012 appears to be equally volatile," noted George Rubin, President and CEO of Day4 Energy.

The company’s fourth quarter revenues of US$9.4 million declined from US$57.7 million or 84% from the same period in 2010 and by 35% from the prior quarter. The total revenue for the fiscal year 2011 was $66.1 million which was a decrease of $100.6 million or a drop of 60% compared to 2010. The gross loss, according to the company, was $0.3 million for 4Q2011 compared to the prior quarter’s $3.0 million gross loss and a gross margin of $4.7 million in