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Astropower posts Q3 profit, forecasts 2002 revs rising
THURSDAY, NOVEMBER 08, 2001 4:35 PM
- Reuters

NEWARK, Del, Nov 8 (Reuters) - Solar panel company AstroPower Inc (NASDAQ NM:APWR) on Thursday reported higher earnings as its manufacturing capacity increased with higher demand for solar power.

AstroPower said net income in the third quarter was $1.5 million, or 10 cents a share, compared with $630,000, or 5 cents a share, last year.

The company said revenues rose to $18.4 million from $13.4 million a year ago. Product revenues rose to $17.8 million from $12.6 million in 2000.

The company expects fourth quarter product revenues to rise to a range of $19 million to $20 million. For 2002, the company sees product revenues from $105 million to $125 million.

REUTERS

Rtr 16:35 11-08-01

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Copyright 2001, Reuters News Service
 
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