Concurrently, the company has redeployed and hired significant resources behind its vertical integration strategy of manufacturing solar concentrator modules for both inclusion in ENTECH managed full scope EPC solar system projects, as well as for direct sale to third-party and strategically aligned installers.
The company believes that its unique, patented technology "offers the greatest opportunity for margin expansion and sustained top-line growth."
According to its CEO, Frank Smith, ENTECH's concentrator photovoltaic (CPV) and solar thermal (CPVT) solutions "deliver reliable, efficient solar electricity and hot water simultaneously, yielding higher returns on investment for customers."
Sharing the performance in the third quarter, Smith said, "We are in the process of building the engineering, design, manufacturing, project management, project financing and administrative support infrastructure necessary to support our aggressive growth plans."
Its revenue for the third quarter was $6.5 million, compared with $4.4 million posted in the same quarter last year. It recorded a gross loss for the quarter of $2.3 million, versus a gross profit of $0.6 million in the prior-year quarter.
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