American Electric Technologies Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2009. For the quarter, the company reported that net income increased to $170,000 or 2 cents per basic and diluted share compared with $13,000 or 0.0 cents per basic and diluted share for the same quarter last year. Net sales were $12.0 million compared with $14.8 million for the third quarter of 2008, a decrease of $2.8 million or 19.3%. The company reported $0.905 million from operations compared to $0.573 million in same period a year ago. For the nine months, net sales, net income and basic and fully diluted earnings per share were $40.1 million, $0.5 million and $0.07 compared to $48.4 million, $0.7 million and $0.09, respectively in the comparable prior year period. The company showed strong progress in the quarter on its strategy to improve cash flow and to strengthen its balance sheet by showing a significant increase in cash flow from operations of $1.5 million. The company provided sales guidance for fiscal 2009 and early 2010. The company does expect to remain above the quarterly breakeven sales level of $12 million for 2009.

American Electric Technologies, Inc, Q3 2009 Earnings Call, Nov-09-2009

American Electric Technologies Inc. announced its formal entry into the rapidly emerging solar power market at the 2009 Solar Power International (SPI) conference and expo. With its official market entry, AETI is offering comprehensive electrical services for solar power infrastructures and modular solar power substations that reduce infrastructure, operating and maintenance costs. In addition, the company brings a long history of proven power distribution expertise and service to the solar power industry. AETI will serve the solar power market by leveraging more than 60 years of providing rugged, low, medium and high voltage AC and DC voltage power distribution and control technologies and services to the traditional energy and wind markets. The company's containerized substations and power conversion systems will help reduce solar utility developers' costs and increase solar power infrastructure reliability by bringing technology to market that has been pre-commissioned and wired, stringently tested for harsh environments, and is ready to be integrated into existing infrastructure.