Zoltek Companies (ZOLT) has made it a habit to miss Wall St estimates and they did it again this quarter as the company continues to have trouble turning it around.  The stock has been improving significantly technically in the past couple months leading many to believe (including myself), that the company might report decent results this time around.  Nada.  They reported another healthy loss of .14/share which was significantly worse than the .06/share loss analysts expected.  Revenues were a disappointment as well coming in shy of analyst estimates at $26 million.

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To the company’s credit, the CEO did say after last quarter’s results that the improvement would come towards the 2nd half of this year, so we’ll have to see if that pans out.  He commented on this again:

“Like many other businesses – and, even more so, like most of our customers – we went into 2010 expecting a slow start and a strong finish, and that is exactly how it appears to be working out. We have already begun to increase shipments of our low-cost, high-performance carbon fibers in response to a significantly stronger recent order flow. In particular, we are encouraged by the recovery in demand publicly reported by Vestas Wind Systems AS, of Denmark, the world largest producer of advanced wind turbines. Vestas is the largest buyer of carbon fibers in the world and currently Zoltek’s biggest customer.”

He also indicated that he expects to see a pick up in orders from Spain’s Gamesa Group, a wind turbine manufacturer and is in talks with other manufacturers.  The company is attempting to expand into auto applications with the formation of Zoltek Automotive which we covered a few weeks ago. 

Lots of optimism from the CEO, so now is the time to put up or shut up.  Shares are off just a bit in after hours trading.