Hoku Scientific blames fiscal-year net loss for current financial problems

Hoku Scientific blames fiscal-year net loss for current financial problems

Hoku Scientific, a diversified clean energy technologies company, ascribed the decrease in revenue and increase in payroll expenses to its fiscal net loss.

The company’s net loss for the fiscal year constituted $4.3 million, or 26 cents per share, compared with a loss of $2.8 million, or 17 cents per share the previous year.

The loss resulted in reduced revenues – from $5.4 million in fiscal 2007 to $3.2 million this year.

The company forecasts further losses during the construction of its polysilicon plant in Pocatello, Idaho.