Solar Power (PINK:SOPW)

Fourth Quarter 2011 Results

• Total net sales for the fourth quarter of 2011 were $59.0 million, up from $13.1 million for the fourth quarter of 2010 and up from $22.1 million for the third quarter of 2011.
• Net income for the fourth quarter of 2011 was $4.8 million, or $0.03 per basic and diluted share. This compared with a net loss of $0.4 million, or ($0.01) per basic and diluted share, for the fourth quarter of 2010 and with a net loss of $1.3 million, or ($0.01) per basic and diluted share, for the prior quarter.

“We’re pleased with our record fourth quarter and year 2011 financial results, which marked a year in which we completed SPI’s repositioning as a SEF developer,” said Stephen Kircher, CEO of SPI. “This enables SPI to pursue newer, more profitable projects, accelerating our access to market growth opportunities, and favorably impacting our outlook for total net sales for 2012.”

2012 Business Outlook:

As noted in the Company’s news release issued February 22, 2012, SPI continues to expect that 2012 net sales will approximately double its 2011 levels.