Spire Corp. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, net sales and revenues were $3.7 million, a 10% decrease from $4.2 million for the same quarter of 2013 primarily due to a decrease in its solar systems revenue for a market it exited during 2013, partially offset by an increase in solar module equipment sales. Net loss attributable to common stockholders was $1.4 million, or $0.15 per basic and diluted share, compared with a net loss attributable to common stockholders of $2.0 million, or $0.22 per basic and diluted share, for the third-quarter of 2013. Net loss was $0.9 million compared to net loss of $2.2 million for the same period in 2013 or an improvement of 59% on a year over year basis. Loss from operations before income tax provision was $0.95 million compared to $2.23 million a year ago. Loss from operations was $0.88 million compared to $2.21 million a year ago.

For the nine months, net sales and revenues were $11.7 million, a 6% increase from $11.0 million for the same nine month period in 2013. Net loss attributable to common shareholders was $5.9 million or $0.64 per basic and diluted share, compared to a net loss attributable to common shareholders of $6.5 million, or $0.70 per basic and diluted share, for the same period in 2013. Net cash used in operating activities was $1.9 million compared to net cash used in operating activities of $3.7 million for the nine months ended September 30, 2013 which includes $0.2 million of cash used in operating activities of discontinued operations. Loss from operations before income tax provision was $4.73 million compared to $6.64 million a year ago. Loss from operations was $4.51 million compared to $6.58 million a year ago.