CPV Intelligence Brief 18 – 31 January 2012

By Katherine Steiner Dicks on Jan 31, 2012

Amonix receives ISO and IEC certs Companies mentioned: Amonix and Emcore

CPV Intelligence Brief 18 – 31 January 2012

Amonix receives ISO and IEC certs

Amonix, which specialises in utility-scale CPV solar power systems, has received ISO 9001:2008 and IEC 62108 certifications. Both certifications represent key milestones in Amonix’ quality management system and field operation durability.

The manufacturer worked with a leading ISO accreditation agency that offered their vast aerospace and defense programme knowledge to conduct a thorough assessment to be eligible for submission to the International Organization for Standardization.

This certification of compliance recognizes that the policies, practices and procedures ensure consistency and the highest quality standards in the products provided to customers, said Amonix in a statement.

Emcore approves reverse stock split

Emcore, the troubled CPV solar cell manufacturer, has approved a one-for-four reverse stock split, which will take place on 15 February, 2012.

The action will see the number of issued and outstanding shares in the company reduced by 94 million to approximately 23.5 million. The market value of the total number of shares would remain the same.

While Emcore’s reported revenue in 2011 was $200.9m, 5 per cent up on the previous year, and its PV revenues accounting for $75.3m, up 8 per cent for the same period, the company was still reporting losses: consolidated net loss of $34.2m (2011), a up $10.5m from the year before.

As of September 30, 2011, cash, cash equivalents, and restricted amounted to $16.1m.
A 1-for-2 reverse split means you get half as many shares, but at twice the price, according to Investopedia. The site also said that a reverse split could mean one of two things, which include an artificial boost to stock valuation when nothing has changed or a company is attempting to preserve their listed status.

Amonix makes temporary job cuts in Nevada

Amonix has cut made job cuts as part of its retooling process at its CPV facility in Las Vegas. Eric Culberson, Director of Manufacturing Operations, was quoted in the Las Vegas Sun newspaper as saying that the layoffs are part of a “retooling,” and that once the new utility-scale CPV solar system is ready, “we will ramp back up to meet the demands of the industry.”

While he indicated that the cuts are temporary and that people will be rehired in the second half of the year, recently hired workers told the Las Vegas Sun that they were never told their jobs were temporary. 

While growing businesses need to watch overhead costs to keep competitive, companies, such as Amonix, which have received tax incentives, could hurt local political support if employment issues are not handled with more care in future.