Ener1 (HEV), a development stage company in the business of lithium-ion batteries for plugin hybrid autos reported a narrow loss than in the year ago quarter with an EPS of -.08, compared to -.16. Revenues nearly doubled over the year ago quarter to $39K.
Some highlights from the quarter:
– received a purchase order to deliver 2 prototype plug-in hybrid lithium-ion battery packs in Feb 09 to a major European auto maker. HEV will also … Read the rest
LDK Solar (LDK) is commenting on its financial position this morning, saying they are in good shape for next year. Usually when a company comes out with a statement to defend its financial position in the face of growing concern you have to be skeptical, so we’ll revisit this statement in 6 months and see just how strong they are in 09.
The company noted that it has secured contracts totaling 1.8GW for 2009 which … Read the rest
Hoku Materials announced that it has signed a supply contract with Polymet Alloys for silicon metal to be converted into polysilicon for the solar market. The 3-year contract states that Polymet will supply Hoku with specified amounts of silicon each year starting in 2009. This guarantees that Hoku will have enough silicon for the start-up of its plant. If necessary, both parties can agree to expand the contract after the first year.
Dustin Shindo, Hoku’s … Read the rest
GT Solar International, Inc announced the appointment of an 8th member of their board of directors today: Noel G. Watson, the Chairman of Jacobs Engineering Group. Mr. Watson has been with Jacobs Engineering group for four decades. He started as a process engineer, and has worked his way up from there.
J. Bradford Forth, GT Solar’s Chairman, commented on what the appointment will bring to his company:
… Read the rest“Noel brings a vast amount of knowledge
Just months ago, the Pickens Plan was all the rage as oil soared to the stratosphere and the credit crisis was just beginning to unravel in a big way. T Boone Pickens had grand plans of a wind farm filled with $2 billion in wind turbines courtesy of General Electric (GE). Now those plans seem to be on hold but delivery isn’t expected until 2010.
The NY Times is reporting that Pickens told reporters at … Read the rest
Applied Materials (AMAT) announced a profit drop of 47% over the year ago quarter after the bell today, but it was enough to beat analyst expectations of .14/share as the company posted .18/share. Revenue was also weak, dropping 14% from the year ago quarter but it too beat analyst estimates. However, the stock dropped a bit after hours on news that the company is guiding lower for Q1 and sees EPS at flat to .04/share … Read the rest
According to StreetInsider.com, Collins Stewart has initiated coverage on MEMC Electronics (WFR) with a BUY rating and price target of $27. The firm believes the departure of CEO Nabeel Gareeb is bullish in that it may open up more long term relationships. They said:
“… the company’s $6.18 in net cash and potential to deliver $2.58 GAAP EPS in FY10 under a stress test forecast should provide support at current levels…CEO Nabeel Gareeb resigned … Read the rest
Itron (ITRI) and Nighthawk (OTCBB:NIHK) have announced a partnership that allows ITRI to promote, market and sell Nighthawk wireless power control products to its utility customers. Nighthawk’s products will complement ITRI’s automated meter reading product, ChoiceConnect which provides utilities with the ability to connect, disconnect or reduce power to customers based on meter readings remotely.
“Itron certainly recognizes the potential value of combining Nighthawk’s growing wireless control capabilities with our ChoiceConnect suite,” said Philip Mezey, … Read the rest
Gushan Environmental Energies released its 3rd quarter results today. Revenues increased 82.9% compared to last year’s third quarter, coming in at $66 million. Also compared to last year, gross profit is up 47.8% to $24.0 million. Compared to last year, income from operations is up 36.6% to $19.9 million. Non-GAAP net income, however, decreased by 3.5% from last year, coming in at $12.7 million. Since this time last year, Gushan has increased their biodiesel capacity … Read the rest
JA Solar Holdings posted mixed results today, sending their share prices down in pre-market trading by 19%, to $2.70 per share. The company reported a net loss of $21.0 million, or 36 cents per ADS, compared to third quarter of 2007, when it earned $24.4 million, or .17 cents per ADS.
However, this loss was primarily related to one-time losses from deals with Lehman Brothers. The company lost $100 million in investments, $7.3 million … Read the rest