Energy Conversion Devices, Inc. (ECD) announced the results of its first quarter of fiscal year 2012, ended September 30, 2011. Total consolidated revenue from continuing operations for the quarter was $22.0 million, which compares to $65.3 million in the first quarter of fiscal year 2011, and $70.5 million in the fourth quarter of fiscal year 2011. The company sold 11.4 megawatts of its unique UNI-SOLAR® brand solar products in the face of sluggish global demand for solar products and sharp price decreases.
For the quarter, the company generated a net loss from continuing operations of $57.5 million, which includes a non-cash impairment charge of $34.3 million. This result compares to a net loss of $15.4 million in the year ago period and $42.8 million in the prior quarter.
