Solar component provider STR Holdings reported a lower third-quarter net loss, as it cut expenses to overcome a drop in sales.
The Enfield company, which has shifted production to China over the last several years, said it lost $3.7 million in the quarter ended Sept. 30, down from a loss of $6.2 million in the third quarter of 2015.
Net sales totaled $4 million, down from $6.6 million in the prior-year quarter. The company’s sales this year have been almost entirely in China — the home of its majority owner Zhenfa Energy Group, and Spain.
STR was delisted from the New York Stock Exchange last year when its stock price remained below exchange-required levels. It now trades on the OTC Markets exchange. Its shares were trading at around 19 cents Thursday afternoon.
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