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SolarWorld Q1 loss widens YOY

SolarWorld Aktiengesellschaft said its normalized net income for the first quarter came to a loss of 79 euro cents per share, compared with a loss of 76 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of €11.8 million, compared with a loss of €11.4 million in the year-earlier period.

The normalized profit margin rose to negative 5.5% from negative 7.6% in the year-earlier period.

Total revenue grew 42.3% year over year to €212.7 million from €149.5 million, and total operating expenses climbed 41.2% year over year to €222.4 million from €157.5 million.

Reported net income came to a loss of €20.8 million, or a loss of €1.40 per share, compared to a loss of €10.0 million, or a loss of 67 cents per share, in the prior-year period.