Solar Enertech Corp. reported unaudited consolidated earnings results for the third quarter and nine months ended June 30, 2009. Revenue decreased 1% to $10.1 million compared to $10.3 million in the third quarter of the prior year period. Revenue for the third quarter was comprised of approximately $6.6 million in solar modules sales, of which more than 95% were sold to Europe and Australia and $3.5 million in solar cell sales. Net loss for the third quarter of fiscal 2009 was $6.8 million or $0.08 per basic and diluted share compared to a net loss of $3.5 million or $0.03 per basic and diluted share in the same period in fiscal 2008. Excluding non-cash items, on a non-GAAP basis, the third quarter 2009 net loss was $3.4 million compared to a net loss of $3.6 million in the prior year period. Operating loss was $2,590,000 against $3,296,000 in 2008. For the six months, the company reported net loss of $16,124,000 or $0.18 per diluted share on net sales of $19,639,000 against income of $8,366,000 or $0.10 per diluted share on net sales of $18,582,000 in 2008. Operating loss was $13,137,000 against $13,762,000 in 2008.

Solar EnerTech Corp. announced it has entered into a 10MW contract to deliver its solar modules to Solarzentrum Allgau. The total shipment value to Solarzentrum Allgau under the contract is approximately $20 million. Shipments, aimed for solar power installations in Germany, are scheduled to begin immediately and will be delivered throughout the current calendar year.

Solar Enertech Corp. reported unaudited consolidated earnings results for the second quarter and six months ended March 31, 2009. For the fiscal 2009 second quarter ended March 31, 2009, revenue increased 27% to $4.4 million compared to $3.5 million in the fiscal second quarter of the prior year period. Revenue for the fiscal 2009 second quarter was comprised of $4.2 million in solar module sales, of which more than 95% were sold to Europe and Australia, and $0.2 million in solar cell sales. Net loss for the second quarter of fiscal 2009 was $5.5 million, or $0.06 per basic and diluted share compared to net income of $15.8 million, or $0.03 diluted share in the same period in fiscal 2008. In the second quarter of fiscal 2009, the company recorded a non-cash gain of $0.1 million associated with a change in the fair market value of compound embedded derivative liability and a non-cash gain of $0.1 million related to the change in the fair market value of warrant liability. Excluding these non-cash gains of $0.2 million, on a non-GAAP basis, the company had a net loss of $5.7 million in the second quarter of fiscal 2009. In the second quarter of fiscal 2008, the company recorded a non-cash gain of $11.2 million associated with a change in the fair market value of compound embedded derivative liability and a non-cash gain of $10.8 million related to the change in fair market value of warrant liability. Excluding these non-cash gains of $22.0 million, on a non-GAAP basis, the company had a net loss of $6.2 million in the second fiscal quarter of the prior year period. Operating loss for the quarter was $5.0 million compared to $5.7 million for the same period last year. For the six months, the company reported net loss of $9.3 million or $0.11 per diluted share on net sales of $9.5 million compared to net income of $11.9 million or $0.04 per diluted share on net sales of $8.3 million for the same period last year. Loss from operations for the period was $10.5 million compared to $10.5 million for the same period last year.