STR Holdings, Inc. reported unaudited consolidated earnings results fourth quarter and full year ended December 31, 2013. For the quarter, net sales were $6.7 million compared to $16.05 million a year ago. Operating loss was $6.64 million compared to $184.33 million a year ago. Loss from continuing operations before income tax benefit was $6.65 million compared to $184.46 million a year ago. Net loss from continuing operations was $3.7 million, or $0.09 per diluted share. This compares to a net loss from continuing operations of $123.4 million, or $2.97 per diluted share, for the fourth quarter of 2012. Net loss was $3.65 million or $0.09 per basic and diluted share compared to $123.46 million or $2.97 per basic and diluted share a year ago. Non-GAAP net loss from continuing operations, which excludes certain tax-effected adjustments was $1.9 million, or $0.05 per diluted share. This compares to non-GAAP net loss from continuing operations of $3.7 million, or $0.09 per diluted share, for the fourth quarter of 2012. Adjusted LBITDA was $3.6 million compared to Adjusted LBITDA of $3.4 million for the fourth quarter of 2012. Net cash used in continuing operations was $4.29 million compared to net cash provided by continuing operations of $5.32 million a year ago. Total net cash used in operating activities was $4.29 million compared to total net cash provided by operating activities of $11.07 million a year ago. Capital expenditures were $79,000 compared to $200,000 a year ago. The sequential improvement in net loss was driven by additional tax benefit of $2.7 million and benefits from prior cost-reductions that more than offset $1.7 million of higher restructuring charges and a $0.2 million fixed asset impairment. The fourth quarter of 2012 included $172.9 million of non-cash long-lived asset impairments.

For the full year, net sales were $31.86 million compared to $95.35 million a year ago. Operating loss was $25.24 million compared to $283.49 million a year ago. Loss from continuing operations before income tax benefit was $25.64 million compared to $277.84 million a year ago. Net loss from continuing operations was $18.29 million or $0.44 per basic and diluted share compared to $211.58 million or $5.12 per basic and diluted share a year ago. Net loss was $18.29 million or $0.44 per basic and diluted share compared to $207.35 million or $5.02 per basic and diluted share a year ago. Non-GAAP net loss from continuing operations was $13.82 million or $0.33 per diluted share compared to $1.90 million or $0.05 per diluted share a year ago. Adjusted LBITDA was $17.15 million compared to Adjusted EBITDA of $3.12 million a year ago. Net cash used in continuing operations was $22.79 million compared to net cash provided by continuing operations of $33.88 million a year ago. Total net cash used in operating activities was $21.96 million compared to total net cash provided by operating activities of $33.85 million a year ago. Capital expenditures was $2.24 million compared to $10.68 million a year ago.

The company announced asset impairment of $194,000 compared to $37.43 million a year ago.