GT Solar (SOLR) is providing preliminary results for the 2nd quarter fiscal 2010. The company expects revenues in the range of $100 – 105 million with an EPS of .06 – .07/share. It also reaffirmed the full year outlook of $450 – $550 million in revenues and .45 – .60/share for EPS. The company reports official results next week.
The company also announced a new CEO in Tom Gutierrez who took over last week for … Read the rest
LDK Solar (LDK) continues its slide lower and is closing in on all time lows after Germany’s Q-Cells ended a solar wafer supply agreement because LDK apparently didn’t fulfill significant contractual obligations. It looks like Q-Cells wants out of the contract because it can get supplies much lower now than the price the companies agreed on when the contract was put into place in addition to needing some cash. The company claims that the $244 … Read the rest
A-Power Generation Systems just announced that they will supply a 600 MW wind farm in West Texas as a part of a joint venture between Shenyang Power Group the U.S. Renewable Energy Group and Cielo Wind Power LP. Under the agreement, the joint venture will purchase 240 units of 2.5MW wind turbines from A-Power, with delivery tentatively scheduled to start in March 2010.
In a press release, Mr. Jinxiang Lu, Chairman and CEO of A-Power … Read the rest
Evergreen Solar just announced that they will be introducing a new series of their String Ribbon Panels, the ES-C Series. The ES-C series is Evergreen’s first off-the-grid solar panel series. The panels can directly charge direct 12, 24 or 48 volt batteries in off-grid applications, and are designed to be easy to install while withstanding harsh weather conditions like wind and snow.
In a press release, Alan King, Director of Sales for the Americas, commented … Read the rest
Wedbush is downgrading First Solar (FSLR) this morning from Outperform to Neutral and cutting the price target from $170 to $120.
Hat tip to StreetInsider.com for the following analyst comment:
“We are downgrading First Solar to Neutral based on declining margin profile. Revenue falls short of consensus by $48 million due to the delayed revenue recognition for the Sarnia project. Significant manufacturing capacity expansion is not expected until at least 2011. We believe the modest … Read the rest
American Superconductor (AMSC) reported another impressive quarter, beating analyst estimates by a wide margin. The company posted EPS of .19/share which was .07 better than expectations . They posted a loss in the year ago quarter. Revenues were strong as well at $74.7 million and about 10% ahead of analyst estimates (85% greater than year ago quarter). They are also raising their full year 2009 revenue guidance from $260 – $270 to $300 – 310 … Read the rest
This morning EnerNOC (ENOC) announced it has extended an agreement with the state of Connecticut to continue to provide its demand response services through 2014. The company has provided the state with its services since 2006, helping them to earn more than $4 million in demand response payments from EnerNOC. The payments to the state are quarterly and based on the decrease of energy use during peak demand, stabilizing energy costs and reducing the risk … Read the rest
As expected, Itron (ITRI) didn’t post great results after the bell today and that’s been the case for much of the past year as utilities continue to curb spending. The company posted an EPS of .45, missing analyst estimates by .07 on revenues of $408 million which also misses estimates ($418 million). The stock isn’t getting hit too hard after hours because expectations were low going in and most traders recognize that with stimulus … Read the rest
First Solar is selling off more than 15% in after hours trading and taking out key support levels again after the company beat Wall St estimates of 1.73/share, but missed the whisper number of 1.90 share. The company also missed by a wide margin on the revenue number but held firm with its full year revenue forecast of $1.975 – 2.025 billion which is at the high end of the previous range. All in all, … Read the rest
A123 Systems just announced that they have signed a joint marketing agreement with IHI Corporation, one of Japan’s largest manufacturers of heavy industry equipment. Under the agreement, the two companies will work together to seek out new energy storage customer opportunities in the Japanese market. The agreement is significant for A123 because IHI is a such major player in the Japanese market, with clients that include big names like Toyota, Honda,
Nissan, Mazda, Suzuki and … Read the rest