Click on the links below to view each quarter's fiscal results.
To view a copy of the full earnings release with financial statements, click HERE.

August 4, 2010	Real Goods Solar Reports 2nd Quarter 2010 Fiscal Results
May 5, 2010	Real Goods Solar Reports 1st Quarter 2010 Fiscal Results
March 8, 2010	Real Goods Solar Reports 4th Quarter 2009 Fiscal Results
November 4, 2009	Real Goods Solar Reports 3rd Quarter 2009 Fiscal Results
August 5, 2009	Real Goods Solar Reports 2nd Quarter 2009 Fiscal Results
May 6, 2009	Real Goods Solar Reports 1st Quarter 2009 Fiscal Results
March 10, 2009	Real Goods Solar Reports 4th Quarter 2008 Fiscal Results
November 6, 2008	Real Goods Solar Reports 3rd Quarter 2008 Fiscal Results
August 6, 2008	Real Goods Solar Reports 2nd Quarter 2008 Fiscal Results

The Audit Committee is appointed by the Board to assist the Board in monitoring the integrity of the financial statements of the Company, the independent auditor’s qualifications and independence, the performance of the Company’s independent auditors, the compliance by the Company with legal and regulatory requirements, and the Company’s internal controls. The Audit Committee shall prepare the report required by the rules of the Securities and Exchange Commission (SEC) to be included in the Company’s annual proxy statement. Click below to download a copy of the Audit Committee charter.

Audit Committee Charter

The purpose of the Compensation Committee of Real Goods Solar's Board of Directors is to review and approve the compensation of Real Goods’ executive officers and the grant of stock options and other stock based compensation to Real Goods’ executive officers and employees and produce the report on executive compensation for inclusion in Real Goods’ annual proxy statement or annual report in accordance with applicable rules and regulations. Click below to download a copy of the Compensation Committee Charter.

Compensation Committee Charter

The Code of Ethics has been adopted by, and is applicable to, all of Real Goods Solar, Inc.'s employees, officers and directors. Click below to download a copy of the entire Code of Ethics.

Code of Ethics

Real Goods Solar, Inc. (RSOL) SEC Filings on NASDAQ

Real Goods Solar, Inc. Form 10-K for 2009

Real Goods Solar, Inc. Form 10-K for 2008

 

Real Goods Solar Reports Record Second Quarter Results

• Second Quarter Organic
• Fourth Consecutive Quarter of Profitability

Boulder, CO, August 4, 2010 – Real Goods Solar, Inc. (NASDAQ: RSOL), a leading residential solar energy integrator, today announced results for its second quarter ended June 30, 2010.

Net revenue for the second quarter of 2010 increased 37.9% to $17.5 million from $12.7 million recorded in the same period last year. All of the year-over-year revenue growth was organic.

Gross profit increased to $5.0 million, or 28.7% of net revenue, for the second quarter of 2010 from $3.3 million, or 25.8% of net revenue, in the comparable period last year. The increase in gross profit percentage primarily reflects improved installation practices as well as declines in module prices over the last year.

Operating expenses as a percent of net revenue decreased 690 basis points to 26.3% for the second quarter of 2010 from 33.2% in the comparable period last year. This decrease primarily reflects the leveraging of fixed costs and the significant cost savings achieved by integrating all acquired businesses onto a single set of systems and a unified brand.

Operating income for the second quarter of 2010 improved significantly to $422 thousand, as compared to a loss of $939 thousand for the comparable period last year.

Net income for the second quarter of 2010 improved to $268 thousand, or $0.02 per share, as compared to a loss of $581 thousand, or $0.03 per share, for the comparable period last year.

For the six months ended June 30, 2010, revenue grew to $32.5 million, a 46.3% increase from $22.2 million in the comparable period last year. Operating income for the six month period was $450 thousand as compared to a loss of $3.2 million last year. Net income for the six month period was $285 thousand as compared to a loss of $2.0 million last year.

For the twelve month period ended June 30, 2010, revenue increased to $74.6 million, including 43.5% organic revenue growth from the previous twelve months.

“We are very pleased with our strong second quarter revenue growth, our improved gross profit margin and our continued profitability,” commented John Schaeffer, President. “Internal revenue growth was 38% for the second quarter of 2010 and we continue to be optimistic about both residential and commercial demand for the remainder of the year. We remain focused on building our backlog and on hiring installation crews where appropriate to expand our production capacity and keep up with demand.”

“Our financial metrics across the board were very strong in the second quarter,” said Erik Zech, Chief Financial Officer. “Our ability to show gross margin expansion to 28.7% and a decline in operating expenses as a percentage of net revenue to 26.3%, as compared to 33.2% in the same period last year, are both indicative of the progress we have made in optimizing our business. Our balance sheet remained strong at the end of the quarter with a cash balance of $11.9 million and no debt.”

Real Goods Solar will host a conference call tomorrow, August 5, 2010, at 8:30 a.m. PDT (11:30 a.m. EDT) to review the second quarter results.

About Real Goods Solar, Inc.

Real Goods Solar, Inc. is a leading residential solar energy integrator, having installed over 5,000 solar systems. Real Goods Solar offers turnkey solar energy services, and has 32 years of experience in residential solar energy, beginning with the sale in 1978 of the first solar photovoltaic, or PV, panels in the United States. For more information about Real Goods Solar, please visit www.realgoodssolar.com, or call (888) 507-2561.

Dial-in No.:888-549-7735 (domestic) or 480-629-9858 (international)

Passcode: Real Goods

A replay of the call will begin approximately two hours after the end of the call and will continue until midnight EDT on August 12, 2010.

Replay number: 877-870-5176 (domestic) or 858-384-5517 (international)

Pin: 4340340

Contact:

Erik Zech
Chief Financial Officer
415-456-2800 x107
REAL GOODS SOLAR, INC.

This press release includes forward-looking statements relating to matters that are not historical facts. Forward-looking statements may be identified by the use of words such as “expect,” “intend,” “believe,” “will,” “should” or comparable terminology or by discussions of strategy. While Real Goods Solar believes its assumptions and expectations underlying forward-looking statements are reasonable, there can be no assurance that actual results will not be materially different. Risks and uncertainties that could cause materially different results include, among others, introduction of new products and services, completion and integration of acquisitions, the possibility of negative economic conditions, and other risks and uncertainties included in Real Goods Solar’s filings with the Securities and Exchange Commission. Real Goods Solar assumes no duty to update any forward-looking statements.

Real Goods Solar Reports Record First Quarter Results

• First Quarter Organic Revenue Growth of 57%
• Third Consecutive Quarter of Profitability

Boulder, CO, May 5, 2010 – Real Goods Solar, Inc. (NASDAQ: RSOL), a leading residential solar energy integrator, today announced results for its first quarter ended March 31, 2010.

Net revenue for the first quarter of 2010 increased 57.4% to $15.0 million from $9.5 million recorded in the same period last year.  All of the year-over-year revenue growth was organic.

Gross profit increased to $4.0 million, or 26.9% of net revenue, for the first quarter of 2010 from $2.3 million, or 24.2% of net revenue, in the comparable period last year. The increase in gross profit percentage primarily reflects improved installation practices as well as declines in module prices over the last year.

Operating expenses as a percent of net revenue decreased to 26.7% for the first quarter of 2010 from 47.8% in the comparable period last year. This decrease primarily reflects the leveraging of fixed costs and the significant cost savings achieved by integrating all acquired businesses onto a single set of systems and a unified brand.

Net income for the first quarter of 2010 was $17,000, or $0.00 per share, as compared to a net loss of $1.4 million, or $0.08 per share, for the comparable period last year.

“We are extremely pleased with our first quarter results,” commented John Schaeffer, President. “Internal revenue growth was over 50% from the first quarter of 2009 and we are optimistic about both residential and commercial demand for the remainder of the year. We were very pleased to recognize a profit during the first quarter of the year, which is typically our seasonally slowest quarter.”

“Maintaining profitability during the historically slowest quarter of the year for our Company is a strong indicator of the health of our business,” said Erik Zech, Chief Financial Officer. “Our ability to show gross margin expansion and a decline in operating expenses as a percentage of net revenue to 26.7% in the first quarter of 2010, as compared to 47.8% in the same period of the previous year, are both indicative of the progress we have made in optimizing our business. Our balance sheet remained strong at the end of the year with a cash balance of $11.8 million and no debt.”

Real Goods Solar will host a conference call tomorrow, May 6, 2010, at 8:30 a.m. PDT (11:30 a.m. EDT) to review the first quarter results.

Dial-in No.: 877-941-1428 (domestic) or 480-629-9665 (international); Passcode: Real Goods

A replay of the call will begin approximately two hours after the end of the call and will continue until midnight EDT on May 13, 2010.

Replay number: 800-406-7325 (domestic) or 303-590-3030 (international); Pin: 4293226

About Real Goods Solar, Inc.

Real Goods Solar, Inc. is a leading residential solar energy integrator, having installed over 5,000 solar systems. Real Goods Solar offers turnkey solar energy services, and has 32 years of experience in residential solar energy, beginning with the sale in 1978 of the first solar photovoltaic, or PV, panels in the United States. For more information about Real Goods Solar, please visit www.realgoodssolar.com, or call (888) 507-2561.

Contact:

Erik Zech
Chief Financial Officer
415-456-2800 x107
REAL GOODS SOLAR, INC.

This press release includes forward-looking statements relating to matters that are not historical facts. Forward-looking statements may be identified by the use of words such as “expect,” “intend,” “believe,” “will,” “should” or comparable terminology or by discussions of strategy. While Real Goods Solar believes its assumptions and expectations underlying forward-looking statements are reasonable, there can be no assurance that actual results will not be materially different. Risks and uncertainties that could cause materially different results include, among others, introduction of new products and services, completion and integration of acquisitions, the possibility of negative economic conditions, and other risks and uncertainties included in Real Goods Solar’s filings with the Securities and Exchange Commission. Real Goods Solar assumes no duty to update any forward-looking statements.

Real Goods Solar Reports Record Fourth Quarter Results

• Fourth Quarter Revenue of $19.1 million
• Second Consecutive Quarter of Profitability

Boulder, CO, March 8, 2010 – Real Goods Solar, Inc. (NASDAQ: RSOL), a leading residential solar energy integrator, today announced results for its fourth quarter and year ended December 31, 2009.

Net revenue for the fourth quarter of 2009 increased 41.8% to $19.1 million from $13.5 million recorded in the same period last year.  All of the year-over-year revenue growth was organic.

Gross profit increased to $5.4 million, or 28.1% of net revenue, for the fourth quarter of 2009 from $3.2 million, or 23.5% of net revenue, in the comparable period last year. The increase in gross profit percentage primarily reflects improved installation practices as well as declines in module prices over the last year.

Operating expenses as a percent of net revenue decreased to 26.3% for the fourth quarter of 2009 from 42.1% in the comparable period last year. This decrease is partially a reflection of the significant fixed cost component of the business and the available leverage as revenues scale. Additionally, the lower operating expenses have resulted from significant cost savings achieved by transitioning all acquisitions to a single set of systems and a unified brand.

Net income for the fourth quarter of 2009 was $0.2 million, or $0.01 per share, as compared to a net loss of $27.4 million, or $1.53 per share, for the comparable period last year. Excluding the non-cash goodwill impairment charge, net of tax, of $25.9 million, net loss for the fourth quarter of 2008 would have been $1.5 million, or $0.08 per share.

For the year ended December 31, 2009, revenue was $64.3 million, a 64.0% increase from $39.2 million in the comparable period last year, due to acquisitions and organic growth. Net loss totaled $1.6 million, or $0.09 per share, compared to a net loss of $28.0 million, or $1.86 per share, for the year ended December 31, 2008. Excluding the non-cash goodwill impairment charge, net of tax, of $25.9 million, net loss for the year ended December 31, 2008 would have been $2.1 million, or $0.14 per share.

Results for the year ended December 31, 2008 do not include a full year of results for Real Goods Solar’s acquisitions of Independent Energy Systems on August 1, 2008 and Regrid Power on October 1, 2008. On a pro forma basis, adding the $15.1 million of revenue from acquisitions not included in the fiscal 2008 reported results, internal revenue growth would have been approximately 18%.

“The fourth quarter saw continued strong demand for residential solar,” commented John Schaeffer, President. “Bookings were robust throughout the quarter and we are pleased with the size of our backlog going into the slower winter months. Revenue for the quarter showed significant growth as a result of increasing installation capacity as well as completion of significant low-income housing projects in San Francisco and Richmond. We also reported our second consecutive quarter of profitability combined with over 40% internal revenue growth as we continue to see the benefits of scale, operational efficiencies and strong consumer demand.”

“We are pleased with our financial results for the fourth quarter and our ability to maintain profitability,” said Erik Zech, Chief Financial Officer. “Our ability to show gross margin expansion and the decline in operating expenses as a percentage of net revenue to 26.3% in the fourth quarter of 2009, as compared to 42.1% in the previous year are both indicative of the progress we have made in optimizing our business. Our balance sheet remained strong at the end of the year with a cash balance of $12.2 million and no debt.”

Real Goods Solar will host a conference call tomorrow, March 9, 2010, at 8:30 a.m. PST (11:30 a.m. EST) to review the fourth quarter and fiscal year results.

Dial-in No.: 877-941-4774 (domestic) or 480-629-9760 (international); Passcode: Real Goods

A replay of the call will begin approximately two hours after the end of the call and will continue until midnight EDT on March 16, 2010.

Replay number: 800-406-7325 (domestic) or 303-590-3030 (international); Pin: 4259909

About Real Goods Solar, Inc.

Real Goods Solar, Inc. is a leading residential solar energy integrator, having installed over 5,000 solar systems. Real Goods Solar offers turnkey solar energy services, and has 32 years of experience in residential solar energy, beginning with the sale in 1978 of the first solar photovoltaic, or PV, panels in the United States. For more information about Real Goods Solar, please visit www.realgoodssolar.com, or call (888) 507-2561.

Contact:

Erik Zech
Chief Financial Officer
415-456-2800 x107
REAL GOODS SOLAR, INC.

This press release includes forward-looking statements relating to matters that are not historical facts. Forward-looking statements may be identified by the use of words such as “expect,” “intend,” “believe,” “will,” “should” or comparable terminology or by discussions of strategy. While Real Goods Solar believes its assumptions and expectations underlying forward-looking statements are reasonable, there can be no assurance that actual results will not be materially different. Risks and uncertainties that could cause materially different results include, among others, introduction of new products and services, completion and integration of acquisitions, the possibility of negative economic conditions, and other risks and uncertainties included in Real Goods Solar’s filings with the Securities and Exchange Commission. Real Goods Solar assumes no duty to update any forward-looking statements.

* Revenue of $23.0 million
* Return to profitability

Boulder, CO, November 4, 2009 -- Real Goods Solar, Inc. (NASDAQ: RSOL), a leading residential solar energy integrator, today announced results for its third quarter ended September 30, 2009.

Revenue for the third quarter of 2009 increased 122.3% to $23.0 million from $10.3 million recorded in the same period last year, primarily due to organic growth and acquisitions.

Gross profit increased to $5.0 million, or 21.8% of revenue, for the quarter from $2.8 million, or 27.2% of revenue, in the comparable period last year. The decrease in gross margin percentage primarily reflects an increased mix of lower margin commercial installations during the third quarter of 2009. In the fourth quarter gross margin is expected to return to the mid-twenties.

Operating expenses as a percent of revenue decreased to 20.7% for the quarter, from 31.8% in the comparable period last year. This decrease is partially a reflection of the significant fixed cost component of the business and the available leverage as revenues scale. Additionally, the lower operating expenses have been a result of the significant cost savings achieved by transitioning all past acquisitions to a single set of systems and a unified brand.

Net income for the third quarter was $0.2 million, or $0.01 per share, as compared to a net loss of $0.2 million, or $0.01 per share, for the comparable period last year.

For the nine months ended September 30, 2009, revenue was $45.2 million, a 75.6% increase from $25.7 million in the comparable period last year. Net loss totaled $1.8 million, or $0.10 per share, compared to a net loss of $0.6 million, or $0.04 per share, for the nine months ended September 30, 2008.

Results for 2008 do not include Real Goods Solar's acquisition of Regrid Power on October 1, 2008 and only include two months of results for the acquisition of Independent Energy Systems on August 1, 2008. On a pro forma basis, adding the $6.0 million of revenue from acquisitions not included in the third quarter 2008 reported results, internal revenue growth was approximately 41%.

"In the third quarter we saw the return of strong demand for residential solar," commented John Schaeffer, President.  "Bookings were robust throughout the quarter and we are pleased with the size of our current backlog. Revenue for the quarter showed significant growth as a result of increasing installation capacity as well as completion of the first phase of our Fremont High School project. What I am most excited to report is our return to profitability in the third quarter, a milestone that has been our highest priority. "

"We really began to see the leverage in our business during the third quarter, which helped drive us to profitability, " said Erik Zech, Chief Financial Officer.  "While our gross margin was down from the previous quarter, we saw a decline in operating expenses as a percentage of revenue to 20.7% in the third quarter, as compared to 33.2% in the second quarter. Our balance sheet continued to strengthen during the quarter with our cash balance improving to $14.1 million."

Real Goods Solar will host a conference call tomorrow, November 5, 2009, at 8:30 a.m. PST (11:30 a.m. EST) to review the third quarter results.

Dial-in No.:    877-941-2068 (domestic) or 480-629-9712 (international)
Passcode:    Real Goods

A replay of the call will begin approximately two hours after the end of the call and will continue until midnight EST on November 12, 2009.

Replay number:    800-406-7325 (domestic) or 303-590-3030 (international)
Pin:        4180678

About Real Goods Solar, Inc.

Real Goods Solar, Inc. is a leading residential solar energy integrator, having installed over 5,000 solar systems. Real Goods Solar offers turnkey solar energy services, and has 31 years of experience in residential solar energy, beginning with the sale in 1978 of the first solar photovoltaic, or PV, panels in the United States. For more information about Real Goods Solar, please visit www.realgoodssolar.com, or call (888) 507-2561.

This press release includes forward-looking statements relating to matters that are not historical facts. Forward-looking statements may be identified by the use of words such as  "expect,"  "intend,"  "believe,"  "will,"  "should" or comparable terminology or by discussions of strategy. While Real Goods Solar believes its assumptions and expectations underlying forward-looking statements are reasonable, there can be no assurance that actual results will not be materially different. Risks and uncertainties that could cause materially different results include, among others, introduction of new products and services, completion and integration of acquisitions, the possibility of negative economic conditions, and other risks and uncertainties included in Real Goods Solar's filings with the Securities and Exchange Commission. Real Goods Solar assumes no duty to update any forward-looking statements.

Boulder, CO, August 5, 2009 – Real Goods Solar, Inc. (NASDAQ: RSOL), a leading residential solar energy integrator, today announced results for its second quarter ended June 30, 2009.

Revenue for the second quarter of 2009 increased 43.8% to $12.7 million from $8.8 million recorded in the same period last year, primarily due to acquisitions.

Gross profit increased to $3.3 million, or 25.8% of revenue, for the quarter from $2.6 million, or 29.8% of revenue, in the comparable period last year.  The decrease in gross margin percentage primarily reflects an increased mix of commercial installations and the consolidation of 2008 acquisitions which have traditionally produced lower gross profit margins.

Operating expenses as a percent of revenue increased to 33.2% for the quarter, from 31.3% in the comparable period last year.  This increase primarily reflects incremental costs associated with being a public company and integration costs related to the Company’s historical acquisitions.  As of June 30, the entire organization was on a single set of systems and integration costs were essentially complete.

Net loss for the second quarter was $0.6 million, or $0.03 per share, as compared to a net loss of $27 thousand, or $0.00 per share, for the comparable period last year.

For the six months ended June 30, 2009, revenue was $22.2 million, a 44.4% increase from $15.4 million in the comparable period last year. Net loss totaled $2.0 million, or $0.11 per share, compared to a net loss of $0.3 million, or $0.03 per share, for the six months ended June 30, 2008.

Results for 2008 do not include Real Goods Solar’s acquisitions of Independent Energy Systems and Regrid Power, related integration costs, nor most of the costs associated with being a public company.

“While we aren’t satisfied with any quarter in which we show a net loss, we are pleased with the progress we have made during these challenging economic times,” commented Tom McCalmont, Chief Executive Officer.  “Bookings started to come alive again during the second quarter and we began to see the effects of this in our reported revenue.  While the economic environment may remain challenging for quite some time, consumers are becoming increasingly compelled to move forward with solar due to the 30% federal tax credit and lower module prices.  The shortened payback periods and improved returns on investment continue to accelerate the growth of the market.  We believe we will see the positive effects of these factors in the third quarter with revenue growing to between $18 and $20 million.  With more of this incremental growth coming from commercial installations, our gross margin for the third quarter will be lower than historical levels due to the resulting change in overall revenue mix.”

“Optimizing our cost structure and preserving cash continued to be high priorities during the second quarter,” said Erik Zech, Chief Financial Officer.  “We started to see the benefits of our efforts during the second quarter with operating expenses as a percentage of revenue down by 14.6% as compared to the first quarter of 2009, resulting in a significantly smaller overall net loss.  We also made improvements to our balance sheet during the quarter, primarily by further reducing our inventory.  As a result of these efforts, our cash position remained strong at $12.5 million at quarter end.”

Real Goods Solar also announced today that it has signed a large multi-site contract with Northrop Grumman to design and install three large solar electric systems on two separate U.S. Navy bases in the southwestern United States.  Due to the remote nature of these locations, solar PV systems were the ideal choice to meet the demands of these sites.  Construction of the systems is scheduled to begin in the fourth quarter of 2009 and to be completed in the subsequent 4 to 6 months.

Real Goods Solar announced that it will host a conference call tomorrow, August 6, 2009, at 8:30 a.m. PDT (11:30 a.m. EDT) to review the second quarter results.

Dial-in No.:    877-941-8633 (domestic) or 480-629-9820 (international)
Passcode:     Real Goods

A replay of the call will begin approximately two hours after the end of the call and will continue until midnight EDT on August 13, 2009.

Replay number: 800-406-7325 (domestic) or 303-590-3030 (international)
Pin:         4123261

About Real Goods Solar, Inc.
Real Goods Solar, Inc. is a leading residential solar energy integrator, having installed over 4,500 solar systems.  Real Goods Solar offers turnkey solar energy services, and has 30 years of experience in residential solar energy, beginning with the sale in 1978 of the first solar photovoltaic, or PV, panels in the United States.  For more information about Real Goods Solar, please visit www.realgoodssolar.com, or call (888) 507-2561.
This press release includes forward-looking statements relating to matters that are not historical facts.  Forward-looking statements may be identified by the use of words such as “expect,” “intend,” “believe,” “will,” “should” or comparable terminology or by discussions of strategy.  While Real Goods Solar believes its assumptions and expectations underlying forward-looking statements are reasonable, there can be no assurance that actual results will not be materially different.  Risks and uncertainties that could cause materially different results include, among others, introduction of new products and services, completion and integration of acquisitions, the possibility of negative economic conditions, and other risks and uncertainties included in Real Goods Solar’s filings with the Securities and Exchange Commission.  Real Goods Solar assumes no duty to update any forward-looking statements.

BOULDER, Colo., May 6 /PRNewswire-FirstCall/ -- Real Goods Solar, Inc. (Nasdaq: RSOL), a leading residential solar energy integrator, announced today results for its first quarter ended March 31, 2009.

Revenue for the first quarter of 2009 increased 45.1% to $9.5 million from $6.6 million recorded in the same period last year, primarily due to acquisitions.

Gross profit increased to $2.3 million, or 24.2% of revenue, for the quarter from $1.8 million, or 28.0% of revenue, in the comparable period last year. The decrease in gross margin percentage primarily reflects the consolidation of acquisitions, which have traditionally produced lower gross profit margins.

Operating expenses as a percent of revenue increased to 47.8% for the quarter, from 35.4% in the comparable period last year. This increase primarily reflects the impact of the consolidation of the acquisition of Regrid Power during the fourth quarter of 2008, integration costs related to the Companyís 2008 acquisitions, severance costs from a reduction in work force, and the incremental costs associated with being a public company.

Net loss for the first quarter was $1.4 million, or $0.08 per share, as compared to a net loss of $0.3 million, or $0.03 per share, for the same period last year.

Results for the first quarter of 2008 do not include Real Goods' acquisitions of Independent Energy Systems and Regrid Power, related integration costs, nor any of the costs associated with being a public company.

"The first quarter is generally our slowest quarter of the year due to seasonality, winter weather and shorter installation days," commented Tom McCalmont, Chief Executive Officer. "This effect was magnified during the first quarter of 2009 by the very challenging economic environment. However, as the sun has come out this spring and our new marketing initiatives have taken hold, we have begun to see some initial momentum in sales and we are hopeful that this trend will continue as we enter into the prime summer selling months. While our optimism remains cautious, we are encouraged by the signing of a number of significant sales contracts during the last sixty days, representing over $30 million of revenue."

"During the first quarter we remained highly focused on acquisition integration, which included further reductions in headcount, centralization of corporate functions, standardization of products and processes, and a drive towards improved operational efficiencies," said Erik Zech, Chief Financial Officer. "Additionally, we implemented significant improvements to the cost structure of our organization and expect to see initial benefits from these improvements during the second quarter. The continuing acquisition integration and cost saving initiatives have further positioned us to weather the recession and to drive future profitability. We also made improvements to our balance sheet during the quarter by reducing inventory and accounts receivable. As a result of these efforts, our cash position improved to $12.9 million at quarter end."

 

Real Goods Solar announced that it will host a conference call tomorrow, May 7, 2009, at 8:30 a.m. PDT (11:30 a.m. EDT) to review the first quarter results.

Dial-in No.:  877-941-6009 (domestic) or 480-629-9770 (international)

Passcode:  Real Goods

 

A replay of the call will begin approximately two hours after the end of the call and will continue until midnight EDT on May 14, 2009.

Replay number:  800-406-7325 (domestic) or 303-590-3030 (international)

Pin:  4065647

 

About Real Goods Solar, Inc.

Real Goods Solar, Inc. is a leading residential solar energy integrator, having installed over 4,500 solar systems. Real Goods Solar offers turnkey solar energy services, and has 30 years of experience in residential solar energy, beginning with the sale in 1978 of the first solar photovoltaic, or PV, panels in the United States. For more information about Real Goods Solar, please visit www.realgoodssolar.com, or call (888) 507-2561.

This press release includes forward-looking statements relating to matters that are not historical facts. Forward-looking statements may be identified by the use of words such as "expect,"intend," "believe," "will," "should" or comparable terminology or by discussions of strategy. While Real Goods believes its assumptions and expectations underlying forward-looking statements are reasonable, there can be no assurance that actual results will not be materially different. Risks and uncertainties that could cause materially different results include, among others, introduction of new products and services, completion and integration of acquisitions, the possibility of negative economic conditions, and other risks and uncertainties included in Real Goods' filings with the Securities and Exchange Commission. Real Goods assumes no duty to update any forward-looking statements.

BOULDER, Colo., March 10 /PRNewswire-FirstCall/ -- Real Goods Solar, Inc. (Nasdaq: RSOL), a leading residential solar energy integrator, announced today results for its fourth quarter and fiscal year ended December 31, 2008.

Revenue for the year ended December 31, 2008 increased 107.3% to $39.2 million from $18.9 million recorded in the same period last year, primarily due to acquisitions.

Gross profit increased to $10.4 million, or 26.6% of revenue for the year, from $6.5 million, or 34.3% of revenue in 2007. The decrease in gross margin percent primarily reflects the consolidation of the acquisitions of Marin Solar, Carlson Solar and Independent Energy Systems, which have traditionally produced lower gross profit margins.

Operating expenses as a percent of revenue increased 250 basis points year over year to 35.8% from 33.3%. This increase primarily reflects the impact of the consolidation of the acquisition of Regrid Power during the fourth quarter, integration costs related to the Company’s 2008 acquisitions, and the incremental costs associated with being a public company.

Other expenses of $27.2 million for the year represent a non-cash charge related to the impairment of goodwill and other intangible assets recorded as part of historical acquisitions. The impairment, resulting from the application of SFAS No. 142, Goodwill and Other Intangible Assets, was driven by the decline in the market price of the Company's common shares (Nasdaq) experienced in the fourth quarter.

Net loss for the year, including the above non-cash charge, was $28.0 million, or $1.86 per share, as compared to net income of $0.1 million, or $0.01 per share, for the year ended December 31, 2007. Excluding the impairment charge (and net of a related $1.6 million tax benefit), net loss for the year would have been $2.3 million, or $0.16 per share.

For the fourth quarter of 2008, Real Goods net revenue increased to $13.5 million, a 133.8% increase from $5.8 million for the same period last year. Net loss for the quarter, including the above non-cash charge, totaled $27.4 million, or $1.53 per share. Excluding the impairment charge (and net of a related $1.6 million tax benefit), net loss for the quarter would have been $1.8 million, or $0.10 per share.

2007 financials do not include Real Goods’ 2008 acquisitions, related integration costs, nor the costs associated with being a public company.

"The fourth quarter was a challenging period for the industry and for Real Goods Solar," commented Tom McCalmont, Chief Executive Officer. "Because of the tough economic environment in the fourth quarter we placed a significant emphasis on acquisition integration, which included a reduction in headcount, centralization of functions, standardization of products and processes, and a drive towards improved operational efficiencies."

"We are working hard to cut costs and drive synergies across the Real Goods organization during this challenging period and anticipate being complete with most of our integration by the end of April," said Erik Zech, Chief Financial Officer. "The changes we are making will position the Company to drive profitability. Our balance sheet remains strong with over $12 million of cash at the end of the year and we are intensely focused on improving this position going forward."

 

Real Goods Solar also announced that it will host a conference call tomorrow, March 11, 2009, at 8:30 a.m. PDT (11:30 a.m. EDT) to review the fourth quarter and fiscal 2008 results.

Dial-in No.: 800-762-9058 (domestic) or 480-629-1990 (international)

Passcode: Real Goods

A replay of the call will begin approximately two hours after the end of the call and will continue until 12:00 a.m. EDT on March 17, 2009.

Replay number: 800-406-7325 (domestic) or 303-590-3030 (international)

Pin: 4024824

 

About Real Goods Solar, Inc.

Real Goods Solar, Inc. is a leading residential solar energy integrator, having installed over 4,500 solar systems. Real Goods Solar offers turnkey solar energy services, and has 30 years of experience in residential solar energy, beginning with the sale in 1978 of the first solar photovoltaic, or PV, panels in the United States. For more information about Real Goods Solar, please visit

This press release includes forward-looking statements relating to matters that are not historical facts. Forward-looking statements may be identified by the use of words such as "expect," "intend," "believe," "will," "should" or comparable terminology or by discussions of strategy. While Real Goods believes its assumptions and expectations underlying forward-looking statements are reasonable, there can be no assurance that actual results will not be materially different. Risks and uncertainties that could cause materially different results include, among others, introduction of new products and services, completion and integration of acquisitions, the possibility of negative economic conditions, and other risks and uncertainties included in Real Goods’ filings with the Securities and Exchange Commission. Real Goods assumes no duty to update any forward-looking statements.