March 25, 2010 / 12:36 PM / in 8 years

UPDATE 1-Arise Technologies Q4 loss narrows

* Q4 loss C$0.05/shr vs year-ago loss C$0.19/shr

* Sales fall 40 percent

March 25 (Reuters) - Canadian solar technology company Arise Technologies Corp APV.TO posted a narrower quarterly loss, helped by improved market conditions at the end of the year.

“Market conditions improved towards the end of year as we saw a significant increase in demand in the German marketplace,” Chief Executive Vern Heinrichs said in a statement.

For the fourth quarter, Arise posted a net loss of C$7.5 million, or 5 Canadian cents a share, compared with a loss C$22.3 million, or 19 Canadian cents a share in the year-ago quarter.

Sales for the Waterloo, Ontario-based company fell 40 percent to C$11.3 million in the quarter.

The company said it shipped 7.0 megawatt of photovoltaic cells, an increase of 13 percent from the year-ago period.

For related alerts, please double click on [ID:nWNAB3475]

Shares of the company closed at 17 Canadian cents Wednesday on the Toronto Stock Exchange. (Reporting by Isheeta Sanghi in Bangalore; Editing by Maju Samuel)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below