Real Goods Solar Inc. (RSOL, Financial) filed Quarterly Report for the period ended 2009-06-30.
REAL GOODS SOLAR Inc. is a leading residential solar energy integrator. Real Goods Solar offers turnkey solar energy services and has thirty years of experience in residential solar energy beginning with the sale in 1978 of the first solar photovoltaic or PV panels in the United States. Real Goods Solar Inc. has a market cap of $44.1 million; its shares were traded at around $2.8 with and P/S ratio of 1.1.
General and administrative expenses. General and administrative expenses increased $0.2 million, or 77.2%, to $0.6 million during the second quarter of 2009 from $0.3 million during the second quarter of 2008. As a percentage of net revenue, general and administrative expenses increased to 4.3% during the second quarter of 2009 from 3.5% during the second quarter of 2008, reflecting an increase in our infrastructure to support our recent acquisitions and incremental costs associated with being a public company.
Net loss attributable to Real Goods Solar, Inc. As a result of the above factors, net loss attributable to Real Goods Solar, Inc. increased $0.6 million to $0.6 million during the second quarter of 2009 from a net loss of $27,000 during the second quarter of 2008. Net loss per share attributable to our shareholders increased $0.03 per share to a net loss of $0.03 per share during the second quarter of 2009 from $0.00 per share during the second quarter of 2008.
Net loss attributable to Real Goods Solar, Inc. As a result of the above factors, net loss attributable to Real Goods Solar, Inc. increased $1.6 million to $2.0 million during the first half of 2009 from $0.3 million during the first half of 2008. Net loss per share attributable to our shareholders increased $0.08 per share to a net loss of $0.11 per share during the first half of 2009 from $0.03 per share during the first half of 2008.
Investing activities. Our investing activities used net cash of $21,000 and $3.0 million during the first halves of 2009 and 2008, respectively. Our cash used in investing activities during the first half of 2009 was used to acquire property and equipment. The cash used in investing activities during the first quarter of 2008 was used primarily to acquire Carlson Solar on January 1, 2008 for a net $2.9 million and purchase property and equipment for $0.1 million.
Financing activities. Our financing activities used net cash of $0.2 million and provided net cash of $30.9 million during the first halves of 2009 and 2008, respectively. Our cash used in financing activities during the first half of 2009 reflects the repayment of borrowings from Gaiam which were used to fund our daily operations. The net cash provided by our financing activities during the first half of 2008 reflects net proceeds from our IPO of $48.2 million, partially offset by cash used to repay borrowings from Gaiam of $17.3 million that were used to acquire businesses and fund our daily operations.
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REAL GOODS SOLAR Inc. is a leading residential solar energy integrator. Real Goods Solar offers turnkey solar energy services and has thirty years of experience in residential solar energy beginning with the sale in 1978 of the first solar photovoltaic or PV panels in the United States. Real Goods Solar Inc. has a market cap of $44.1 million; its shares were traded at around $2.8 with and P/S ratio of 1.1.
Highlight of Business Operations:
Selling and operating expenses. Selling and operating expenses increased $1.2 million, or 49.1%, to $3.7 million during the second quarter of 2009 from $2.5 million during the second quarter of 2008. As a percentage of net revenue, selling and operating expenses increased to 28.9% during the second quarter of 2009 from 27.8% during the second quarter of 2008. The increase in selling and operating expenses primarily reflects the impact of the consolidation of Regrid Power and integration costs related to our other 2008 acquisitions.General and administrative expenses. General and administrative expenses increased $0.2 million, or 77.2%, to $0.6 million during the second quarter of 2009 from $0.3 million during the second quarter of 2008. As a percentage of net revenue, general and administrative expenses increased to 4.3% during the second quarter of 2009 from 3.5% during the second quarter of 2008, reflecting an increase in our infrastructure to support our recent acquisitions and incremental costs associated with being a public company.
Net loss attributable to Real Goods Solar, Inc. As a result of the above factors, net loss attributable to Real Goods Solar, Inc. increased $0.6 million to $0.6 million during the second quarter of 2009 from a net loss of $27,000 during the second quarter of 2008. Net loss per share attributable to our shareholders increased $0.03 per share to a net loss of $0.03 per share during the second quarter of 2009 from $0.00 per share during the second quarter of 2008.
Net loss attributable to Real Goods Solar, Inc. As a result of the above factors, net loss attributable to Real Goods Solar, Inc. increased $1.6 million to $2.0 million during the first half of 2009 from $0.3 million during the first half of 2008. Net loss per share attributable to our shareholders increased $0.08 per share to a net loss of $0.11 per share during the first half of 2009 from $0.03 per share during the first half of 2008.
Investing activities. Our investing activities used net cash of $21,000 and $3.0 million during the first halves of 2009 and 2008, respectively. Our cash used in investing activities during the first half of 2009 was used to acquire property and equipment. The cash used in investing activities during the first quarter of 2008 was used primarily to acquire Carlson Solar on January 1, 2008 for a net $2.9 million and purchase property and equipment for $0.1 million.
Financing activities. Our financing activities used net cash of $0.2 million and provided net cash of $30.9 million during the first halves of 2009 and 2008, respectively. Our cash used in financing activities during the first half of 2009 reflects the repayment of borrowings from Gaiam which were used to fund our daily operations. The net cash provided by our financing activities during the first half of 2008 reflects net proceeds from our IPO of $48.2 million, partially offset by cash used to repay borrowings from Gaiam of $17.3 million that were used to acquire businesses and fund our daily operations.
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