Solar Power Inc. hits record Q4

Solar Power Inc. of Roseville, Calif., has announced record fourth quarter and year-end financial results, having landed a number of large-scale solar projects.

Solar Power Inc. reported fourth quarter net income of $4.8 million, up from a loss of $375,000 in fourth-quarter 2010.

SPI (OTCBB: SOPW) had revenue of $59 million for the quarter, up from $13.1 million in the same three-month period a year earlier.

“We’re pleased with our record fourth quarter and year 2011 financial results, which marked a year in which we completed SPI’s repositioning as a (solar energy facilities) developer,” SPI chief executive officer Steve Kircher said in a news release.

For all of 2011, the company reported a loss of $461,000, compared to a loss of $9.4 million in 2010.

From the Sacramento Business Journal.

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