Solar EnerTech Corp. (SOEN.OB) Reports Fourth Fiscal Quarter Results

QualityStocks would like to highlight Solar EnerTech (OTCBB: SOEN). The company has brought together a strong management and technical team to meet the company's vision: to capitalize on the great global demand for solar energy, to take full advantage of its new Shanghai production facility and state-of-the-art R&D center, and to become one of China's top solar cell producers. With strong ties to the United States through its California sales and distribution arm, the company has also formed a strategic relationship with InfoTech Energy Efficiency, a US-based power system supply firm that manufactures components in America and successfully exports the products to China.

In the company’s news yesterday,

Solar EnerTech Corp. reported large year over year increases in sales and shipments of solar modules in the fourth quarter of fiscal 2010, ending September 30, 2010. The company attributed the strong results to organic growth in demand and initial orders from new customers in all geographic areas.

Solar EnerTech Corp. said that shipments of solar modules totaled 9.86 megawatts in the fourth quarter of fiscal 2010, up 87% from the 5.25 megawatts in shipments made in the same quarter in fiscal 2009. Sales also increased in the fourth quarter of fiscal 2010, reaching $18.2 million in the quarter, up 38% from the $13.2 million in the corresponding quarter in 2009.

Management saw strong organic demand and orders from new customers during the quarter. Leo S. Young, the CEO of Solar EnerTech Corp., said, “We experienced strong growth in demand for our products both during the quarter and throughout the year, pushing our production and shipments to historically high levels…equally pleasing was the expansion of shipment volumes to both new and existing customers in Europe, Australia and the United States.”

Solar EnerTech Corp. reported a decline in the average selling prices of solar modules in the most recent quarter. The company realized an average selling price of $1.82 per watt in the quarter ending 9/30/2010, compared to $2.13 per watt in the fourth quarter of fiscal 2010.

About QualityStocks

QualityStocks, based in Scottsdale, Arizona is a free service that collects data from hundreds Small-Cap and Micro-Cap online Investment Newsletters into one Free Daily Newsletter Report. QualityStocks is dedicated to assisting emerging public companies with their advertising efforts and now has over 750,000+ subscribers that receive The Daily Stock Newsletters.

To sign up for “The QualityStocks Daily Newsletter” please visit www.QualityStocks.net

Please see disclaimer on QualityStocks website: http://Disclaimer.QualityStocks.net

Forward-Looking Statement:
This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Risks and uncertainties applicable to the company and its business could cause the company's actual results to differ materially from those indicated in any forward-looking statements.