California-based solar power system installer Premier Power brought in record revenues in the fourth quarter of 2010, but it still recorded a net loss over the year as a whole, the company’s latest earnings report shows.

Driven by strong performance in the company’s Italian segment, including $11m from the sale of two 1MW solar power plants in southern Italy, fourth quarter revenues rose to $46.1m from $15.6m a year earlier.

The company’s net loss for the whole of 2010 was $537m, compared with a $3.66bn profit in 2009. The contrast was due mainly to a difference in tax expenses.

‘As the need for solar power solutions with a strong financial return continues to grow globally, we have continued to evolve as a business and find ways to grow with limitations in available capital,’ said Dean Marks, Premier Power’s chairman and CEO.

source: newenergyworldnetwork