Satcon Technology (SATC) has issued preliminary 3rd quarter results this morning and expects revenues to be much better than expected, but doesn’t see that translating into a profit.  The company now sees revenues in the range of $56 – $58 million vs the analyst consensus estimate of $45.6 million, but on the EPS side the company a 2-3 cent share loss vs the estimate of a one cent share loss.  They are raising revenue guidance for the 4th quarter  too and now see revs in the range of $70 – $75 million compared to the consensus of $51.5 million.  The EPS guidance may be a bit disappointing, but it’s still a big improvement over the year ago quarter when the company posted a loss of .12/share and another big step towards profitability which the company may achieve for the first time within the next couple quarters.  2011 is expected to be the first profitable year in company history which is why the stock is up over 400% in the past 18 months.

Adding selling pressure to  the stock however is the announcement that the company will fund its rapid growth with a secondary, but no date or size has been announced yet.

Shares of SATC are down about 4% today, but off the morning lows and still significantly bullish on the daily chart after breaking out of a cup with handle base on Oct 11th.

===> Click Here For Your FREE Daily Satcon Technology Technical Analysis