Solar EnerTech has reported total revenue of $4.8 million for the first quarter of fiscal 2008, compared to no revenue in the same period of fiscal 2007.
The company recorded $2.2 million in solar cell and module sales with the remaining portion coming from the resale of raw materials. Module sales were sold mainly to customers in Europe.
Net loss for the first quarter of fiscal 2008 was $3.9 million, or $0.05 per share, compared to a net loss of $2.6 million, or $0.03 per share, for the same period of fiscal 2007.
Leo Young, CEO of Solar EnerTech, said: Our performance in the first quarter met our projections and we are making steady progress increasing sales of solar cells and modules. As we move into the second quarter, we are focused on scaling up our production capabilities and further developing our R&D initiatives.