WorldWater & Solar Technologies Corp. (WWAT.OB), a full-service, international solar electric engineering and water management company with unique, high-powered and patented solar technology, recently announced its second quarter 2008 financial results. The company’s shares fell to a 52-week low earlier this week after reporting a net loss of $24 million, or $0.12 per share for the second quarter of 2008, compared with a net loss of $2.8 million, or $0.02 per share during the second quarter of 2007.
The company’s revenue for the second quarter totaled $7.6 million, up considerably from the $2.2 million in revenue reported during the second quarter of 2007. This revenue increase was mainly driven by the company’s project at Denver International Airport and the recently dedicated installation at Fresno International Airport.
Despite the company’s net loss for the quarter, senior management of WorldWater & Solar Technologies Corp. remains optimistic regarding its outlook for 2009. According to Frank Smith, the company’s chief executive officer, WorldWater & Solar Technologies has the funding and technology necessary to pursue numerous attractive opportunities as the company seeks to differentiate itself within the industry.
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