News | Energy Efficiency

http://www.newenergyworldnetwork.com/renewable-energy-news/by-technology/solar/universal-solar-technology-boosts-q3-net-sales.html

Solar wafer and module developer Universal Solar Technology reduced its net loss as its sales jumped nearly 20-fold against those recorded the previous year.

The company’s net sales rose from $31,609 in the third quarter of 2009, to $609,500 in the latest quarter.
Its net loss improved to $164,877 in the latest fiscal quarter, compared to a net loss of $174,656 for the comparable period of 2009.
During the first three quarters of the year, the company’s executives increased their investment in the company by more than $1.7m, and plan to continue to fund the expansion.
In the latest quarter, the company completed testing nine of its ingot growers and continues to acquire additional equipment to expand its production volume.
By the end of the quarter, the company hired an additional 158 employees, training two assembly groups that are due to begin production at the end of the fourth quarter.
Universal Solar Technology chairman and CEO Wensheng Chen said, ‘These revenues, and shipment of over 300,000 wafers during August and September, demonstrate that our new facility is manufacturing quality products and that our sales and marketing team is developing an effective outreach to customers.’
Universal Solar Technology manufactures solar products including silicon material, solar modules and solar power systems.