Hoku Corp. reports net loss of $2 million for its fiscal fourth-quarter ended March 31

Hoku Corp. reports $2 million 4Q loss

HONOLULU — Hoku Corp. is reporting a net loss of $2 million for its fiscal fourth quarter ended March 31, more than double the $904,000 it lost in the same quarter last year.

The clean energy products and services company said Wednesday that it lost $5.4 million for the fiscal year ended March 31, compared to a $3 million loss in fiscal 2009.

Hoku President and CEO Scott Paul attributed the higher loss in fiscal 2010 primarily to preparations for recently completed pilot production runs and to payments to Idaho Power for reserve power capacity in advance of the company’s plant startup.

Hoku is building a $390 million plant in Pocatello, Idaho, to produce polysilicon, a product used for making solar panels.