Burnaby-based Day4 Energy Inc. (TSX:DFE) reported its strongest quarter in the company’s history for the period ending June 30, 2010.
Second quarter revenue rose to $44.8 million, up from $5.7 million in the second quarter of 2009, narrowing its quarterly loss to $4.2 million from $14.1 million.
George Rubin, president of Day4 said, “Throughout the second quarter, we concentrated on building a number of fundamental components to our business to reach the ultimate goal of sustainable long-term operating profitability.”
He noted the company has moved from being purely a solar technology developer to being a solar systems provider.
“We believe that, when completed, this transition will significantly alter the company’s revenue model with higher profit margin sales and royalty streams becoming an increasingly larger component of the company’s revenue mix over time.”
The company said its revenue has continued to diversify with nearly 20% generated outside its core market in Germany.
In the quarter, it signed two manufacturing and licensing agreements that are expected to come online in 2011 and generate approximately €1.9 million in royalty revenue.
Day4’s share price range during the past week: between $0.60 and $0.61; 52-week high: $1.02; 52-week low: $0.43.