Nexxus Lighting Q2 revenue rises

Nexxus Lighting has reported second-quarter total revenue of $4.07 million, up from $1.33 million in the year-ago period.

Net loss for the quarter ended June 30 totaled $868,000, compared with a net loss of $1.89 million in the second quarter of 2010.

Sales of Array products in the quarter grew about $2.79 million over the prior-year period, which represents the launch of these products for sale through the consumer market channel. Nexxus carried out initial shipments of Array to about 1,100 U.S. Lowe's stores, which offer 17 different Array products, including PAR 38, R30, R16, MR16 and GU10 lamps with an Energy Star rating.

"The launch of Array into the consumer market channel allowed us to demonstrate our ability to manage our working capital requirements," said Gary Langford, CFO. "The financing program made available to us and the steps that we took in early July leave Nexxus well-positioned for future growth.

"I also would like to congratulate our team and strategic vendors for their assistance in the current quarter's growth," he added. "Across the supply chain, we were able to avoid a lot of costs through planning and communication."

Total revenue for the six months ended June 30 more than doubled to $5.62 million, compared with the comparable year-ago period. Net loss was $2.20 million, compared with $4.35 million in the first six months of 2010.   

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