SolarWorld revenue drops 26 percent

SolarWorld revenue drops 26 percent

SolarWorld revenue fell 26% in the first nine months of the year compared to the same period of 2012, but the company's Hillsboro factory remains a bright spot.

U.S. sales and European exports of finished products, such as modules and solar kits, helped boost SolarWorld’s so-called trade segment by 57 percent during the quarter ended Sept. 30 compared with last year’s third quarter. Shipments of these products in Germany continued falling because of the company’s ongoing financial restructuring, which makes private German customers reluctant to buy.

In its announcement Monday, SolarWorld said it expects that group revenue and shipments of modules and kits will fall in 2013 below last year’s level – a change from the company’s previous forecasts.

Read more at OregonLive.com.