Akeena Solar slips 16% after worse-than-expected Q1 loss

Akeena Solar, Inc. (Nasdaq:AKNS) shares are slipping 16% in midday trading after the Los Gatos, Calif.-based firm reported a first-quarter loss of $4.6 million, or $0.16 per share, which missed Wall Street’s expectation of losing $0.13 per share. During the year-ago quarter, the designer and installer of solar panel systems posted a loss of $0.9 million, or $0.06 per share.

Quarterly sales surged to $12.2 million versus $6.3 million during the same period of 2007. The sales results met analysts’ consensus estimate.

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