A-Power Energy (APWR) Misses Badly Again, Stock Down Sharply Premarket
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.
Tags: a-power energy, apwr, biomass, china, earnings, lng, windComments
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.
Aug.28
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!