Akeena loss narrows; shares surge 14 percent

Submitted by orville on July 23, 2010
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Akeena Solar posted a smaller second-quarter loss as revenue jumped, and the solar panel installer said it would reach the break-even mark for cash flow in the fourth quarter, sending its shares up 14 percent.

The company's net loss narrowed to $2.5 million, or 6 cents per share, from $4.7 million, or 14 cents per share, a year earlier.

Revenue jumped 68 percent to $9.9 million, even as the average selling price for installations declined to $6.36 per watt from $7.51.

Source: Reuters