ARISE hit with more losses in Q1

WATERLOO – Solar technology company ARISE Technologies Corp. sees first-quarter sales climb to $7.2 million compared with $0.2 million in the Arise126X92.jpgsame period in 2008. However, net losses nearly triple to $14.7 million from $5.4 million. “Our first-quarter financial results reflect a continuation of the economic and solar energy market conditions that began to adversely affect our performance late in 2008,” says Vern Heinrichs, president and CEO. “Industry observers have indicated that they expect demand for PV cells will increase in the second quarter with further strengthening in the second half of the year.” The AGM of the company, which boasts a board of directors with enviable credentials, will be held May 12. Click here for complete financial report.

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