STR Holdings Q1 Loss From Cont. Ops. Narrows - Quick Facts

(RTTNews) - STR Holdings, Inc. (STRI) reported a first quarter net loss from continuing operations of $2.6 million or $0.14 per share, compared to a loss of $4.6 million or $0.35 per share, prior year. The company said, on a year-over-year basis, the decrease in loss from continuing operations was driven by reduced gross loss and SG&A and favorable impact from foreign currency.

Non-GAAP net loss from continuing operations for the first quarter of 2015 was $2.4 million, or $0.13 per share.

Net sales were $6.86 million compared to $9.34 million last year. On a year-over-year basis, net sales declined 26%. The company said the year-over-year decrease was driven by approximately 10% lower volume and a 19% decline in average selling price.