Yingli Green Energy (YGE) reported strong results this morning well ahead of analyst estimates sending the stock up about 4% on the day.  The company reported a non GAAP EPS of .53 vs the analyst estimate of .36/share on revenues of $491 million vs the analyst estimate of $477 million.  That represents quarter over quarter EPS and revenue growth of 194% and 32% respectively.  Gross margins came in higher than the previous estimate of 31 – 32% at 33%.

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Yingli CEO Liansheng Miao commented: “The demand for our modules continues to grow rapidly in the global market. Especially, we see robust demand momentum for the Yingli Solar Panda Module as a result of its higher performance compared with traditional modules with P-type cells. As of today, we have entered into sales contracts under which a total of 721 MW of PV modules are expected to be delivered in 2011, and this figure is expected to increase to 1,000 MW by the end of this year. ”

More highlights..

– recently launched a total of 700MW in capacity expansion products expected to come online in about six months (increases current capacity by 70%)

– PANDA cell conversion achieving 18.5% on commercial production lines, expects to get to 20% by 2012

Looking ahead, the company is raising its shipment guidance for the full year 2010 from 950 – 1000MW to 1020 – 1040MW.  It expects revenues of $1.78 – $1.81 billion (analysts predicted $1.71 billion).  They also raise their gross margin estimate from 31 – 32% to 32 – 32.5%.