Before the opening bell on July 30, Northern California-based Akeena Solar Inc. (NASDAQ: AKNS) reported a 17% decline in second-quarter revenue year over year. However, like we've seen so often this earnings season, the company's cost-savings efforts resulted in a better-than-expected bottom-line earnings numbers.
Akeena reported a net loss of 9 cents per share in the quarter, a number well above the 11-cent loss expected by Wall Street.
Akeena shares jumped on news of the earnings beat, but in the days following the positive announcement, the shares have been just lukewarm.
I like Akeena's positive quarter, but in my opinion it wasn't enough to get me to pull the trigger on this solar stock. I think there are far better solar candidates out there, as you're about to see.
Next: Solar stock #2
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