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

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.

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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)

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