SULZEMOOS (dpa-AFX) - Phoenix Solar AG (PS4G) reported Thursday that its third-quarter net loss per share was 0.51 euro, compared to prior year's profit per share of 0.17 euro.
Earnings before interest and tax came in at negative 2.3 million euros, compared to last year's positive 2.0 million) euros.
Phoenix Solar generated revenues of 21.1 million euros over the period from July to September 2017, sharply lower than last year's 55.0 million euros.
The gross profit margin of 8 percent in the third quarter, compared to last year's 10.9 percent, due to cost overruns in two projects.
Further, the company lowered its fiscal 2017 guidance. Sales revenue is now expected in a range of 90 million euros and 110 million euros, and EBIT is expected in a range of loss of 10 million euros and 8 million euros.
The company previously expected 2017 consolidated revenues in a range of 140 million euros to 170 million euros and EBIT in a range of negative 2.0 million euros to positive 1.0 million euros.
In Germany, Phoenix Solar shares were trading at 1.50 euros, up 5.94 percent.
Copyright RTT News/dpa-AFX