Valence Technology, Inc just announced that it has signed a supply agreement to provide EVI with batteries for their electric trucks. The companies announced the deal at the Grand Opening Ceremony for EVI’s new Stockton, California plant.
In a press release, Robert L. Kanode, President and CEO of Valence Technology, commented on the deal:
“The Valence U-Charge energy storage systems offers EVI the flexibility to offer three distinctive electric trucks from class 4 (15,000 … Read the rest
We’ve seen very good results from the smart grid players Echelon (ELON) and EnerNOC (ENOC) and Powersecure (POWR) posted a Wall St beating quarter as well. I won’t say it was a great quarter because revenues (down 17%) and earnings (down 47%) declined over the year ago quarter, but a beat is a beat and the company did acknowledge that in the year ago quarter they completed a large number of projects for Publix Supermarkets … Read the rest
EnerNOC has been saying for several quarters now that they are close to profitability and they sure entered the world of profitability with a bang after the bell today. The company absolutely smashed Wall St estimates of .73/share by posting $1.30/share on revenues of $103 million. Not only were they profitable but that revenue number is more than double the year ago quarter which was the previous best for the company. Very impressive.. now let’s … Read the rest
Fuel Systems Solutions (FSYS) smashed Wall St estimates this morning by reporting quarter over quarter revenue and earnings growth of 10% and 5% respectively. The company posted .77/share which was well ahead of the estimate of .43/share on revenues of $116.2. The company also raised guidance for the full year 09. The company sees revenues in the range of $415 – 425 million vs the Wall St estimate of $380.
CEO Mariano Costamagna commented on … Read the rest
Enerdel, a a subsidiary of Ener1, just announced that they have received a contract from the Army worth $1.29 million to develop improved lithium-ion battery packs for the hybrid Humvee. Under the contract, EnerDel will work with the U.S. Army Tank Automotive Research, Development and Engineering Center (TARDEC) to create 4 different power systems using two different battery chemistries.
In a company press release, EnerDel’s president Rick Stanley commented on the contract:
“This is … Read the rest
Deutsche Bank is upgrading SunPower (SPWRA) to Buy this morning and raising the price target from $28 to $31.
Hat tip to StreetInsider.com for the following analyst comment:
“We are upgrading SunPower to Buy based upon earnings power (valuation), anticipated industry growth, and SunPower’s market position. We were disappointed with the company’s 3Q09 margin performance, and while we believe margin improvement can come as factory utilization climbs in 4Q09 and through 2010, we have chosen … Read the rest
Ormat Technologies (ORA) posted another strong quarter as earnings increased 48% over the year ago quarter on revenues that increased 20%. The company reported an EPS of .52/share which smashed analyst estimates of .37/share. Revenues also beat analyst estimates coming in at $119.8 million vs Wall St estimates of $99.4 million.
Nearly all the growth over the past year has come in the company’s Product Segment due to a record backlog at the beginning of … Read the rest
There are certainly some things to like about Evergreen Solar (ESLR) and some things.. eh not so much. The earnings results reveal it yet again. This is a company that continues to see revenues surging faster than any other solar company, but they just can’t turn a profit. While margins improved this quarter, they just can’t get the costs down to get profitable.
Taking out the $70 million write down from the Sovello joint venture, … Read the rest
While Akeena Solar (AKNS) continues to struggle in the residential solar industry (posted another loss this quarter), Real Goods Solar (RSOL) is back in the black after a nearly two year hiatus. You have to go back to the 2007 4th quarter to find the last profitable quarter and they did it again this quarter. The company posted $200K in profit (.01/share) on revenues of $23 million. Both beat Wall St estimates of a .01/share … Read the rest
Some good news and bad news out of Echelon (ELON) tonight. The company reported a narrower loss than what Wall St expected, but the CEO announced he was stepping down to battle lung cancer but will remain on the Board as an adviser. Well wishes to you Mr. Oshman.
The company reported a non GAAP EPS loss of .11/share which was much better than the .24/share loss Wall St expected. Revenues came in a bit … Read the rest