A-Power Energy (APWR) missed earnings estimates by a wide margin once again this morning and the stock is down more than 10% as a result. The company reported an EPS of .14/share which was a big improvement sequentially but down 30% over the year ago quarter. Analysts were expecting .20/share. Revenues also jumped over last quarter (by about 60%) to $57.5 million, but off about 10% from the year ago quarter and missing estimates as well.
Here are some highlights from comments made by the CEO:
– adding custom designs for biomass powered micro grid systems
– continuing to negotiate with Advance Agro of Thailand to expand the biomass projects started in July
– waiting for government approval of the Daxinglong Mountain wind farm
– has secured orders for all 30 of the 2.7MW wind turbines
The company reaffirmed 09 revenue at $320 million and net income at $32 million.
actually, APWR did NOT miss like analysts estimates projected because MOST ANALYSTS dont have a clue of how APWR works or has quarterly seasonality issues
APWR is a monster in the making and could become the next “”FIRST SOLAR”” of China
my estimates were right on target!
I can’t argue with you on the fact most analysts are clueless, but it’s still a poor quarter. Comparing to last year, EPS was off 22% and revenues 13%. Agree though, in the longer term, the prospects for this company look very good. Will be interesting to see if they can bounce back next quarter.