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Solar Energy Initiatives Inc. lifted its third-quarter revenue 58 percent from the same quarter last year to $732,000, but reported a net loss of $1.8 million.

The Jacksonville company’s third quarter ended April 30.

Solar Energy attributed the loss to “business activities that have been incurred ahead of our ability to recognize material revenues from our business plan.”

“The current year has been a time of escalating financials and market expansion,” Solar Energy Initiatives CEO David Fann said in a news release. “We have experienced a rapid increase in sales in our solar panel division, and initiated projects in several new geographic regions.”

One of the newest projects is the construction of a 6,000-square-foot solar academy training center in South Carolina near the Port of Charleston. The Williamsburg County center is aimed at leveraging the port by developing a showcase for solar technology, training, distribution and logistics.

The project is the latest in a string of contracts Solar Energy Initiatives has secured. Major contracts include a $750 million, 300-megawatt park in West Texas and an $80 million, 120-acre solar park in California. The company also received stimulus funds to train local unemployed workers for solar energy installation and maintenance jobs.



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Read more: Solar Energy Initiatives posts 3Q loss of $1.8M - Jacksonville Business Journal

http://jacksonville.bizjournals.com/jacksonville/stories/2010/06/14/daily30.html?ana=yfcpc