Solar EnerTech Corp.
Consolidated Statements of Operations
(Unaudited)
| |
|
Quarter Ended December 31, |
|
| |
|
2011 |
|
|
2010 |
|
| |
|
|
|
|
|
|
|
|
| Sales |
|
$ |
2,107,000 |
|
|
$ |
15,507,000 |
|
| Cost of sales |
|
|
(3,091,000 |
) |
|
|
(14,391,000 |
) |
| Gross profit (loss) |
|
|
(984,000 |
) |
|
|
1,116,000 |
|
| |
|
|
|
|
|
|
|
|
| Operating expenses: |
|
|
|
|
|
|
|
|
| Selling, general and administrative |
|
|
1,017,000 |
|
|
|
2,351,000 |
|
| Research and development |
|
|
26,000 |
|
|
|
69,000 |
|
| Gain on debt extinguishment |
|
|
— |
|
|
|
(32,000 |
) |
| Reversal of payroll related tax accrual |
|
|
— |
|
|
|
(5,817,000 |
) |
| Total operating expenses |
|
|
1,043,000 |
|
|
|
(3,429,000 |
) |
| |
|
|
|
|
|
|
|
|
| Operating income (loss) |
|
|
(2,027,000 |
) |
|
|
4,545,000 |
|
| |
|
|
|
|
|
|
|
|
| Other income (expense): |
|
|
|
|
|
|
|
|
| Interest income |
|
|
1,000 |
|
|
|
3,000 |
|
| Interest expense |
|
|
(59,000 |
) |
|
|
(71,000 |
) |
| Gain on change in fair market value of compound embedded derivative |
|
|
— |
|
|
|
202,000 |
|
| Gain on change in fair market value of warrant liability |
|
|
— |
|
|
|
466,000 |
|
| Other expense |
|
|
(107,000 |
) |
|
|
(158,000 |
) |
| Net income (loss) |
|
$ |
(2,192,000 |
) |
|
$ |
4,987,000 |
|
| |
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
| Net income (loss) per share - basic |
|
|
(0.01 |
) |
|
$ |
0.03 |
|
| Net income (loss) per share - diluted |
|
$ |
(0.01 |
) |
|
$ |
0.03 |
|
| |
|
|
|
|
|
|
|
|
| Weighted average shares outstanding - basic |
|
|
173,838,226 |
|
|
|
160,416,534 |
|
| Weighted average shares outstanding - diluted |
|
|
173,838,226 |
|
|
|
171,351,607 |
|
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