Zoltek (ZOLT) Misses Badly, Shares Plunge Nearly 20%

The green stock earnings continue to come in fast and furious and I’m a bit behind .. Zoltek (ZOLT), the maker of carbon components for wind turbines missed analyst estimates badly and swung to a loss in the quarter.  Analysts had expected a profit of .07/share in the quarter, but the company posted a .04/share loss which indicates significant deterioration over the year ago quarter when the company posted a .12/profit.  Revenues continue to plummet as well and dropped 33% over the year ago quarter to $30.3 million.  Shares plunged nearly 20% today on the news, but held up above the 200 day moving average.

The CEO called the quarter a perfect storm of unfavorable events but said the company is positioned to ride out the storm and is optimistic about the future of its business.  Here’s a quote:

“Though 2009 has been an extremely disappointing year in terms of sales, we are very optimistic that the wind energy business will return to much higher growth rates and fulfill long-term expectations of becoming a much bigger part of the energy mix. Additionally, several other applications — autos, deep sea drilling and infrastructure — are in advanced stages of development and testing and offer enormous potential. For all these reasons, we are continuing to work to a plan of achieving $500 million in sales. Our targeted timeframe may now extend past 2012, as originally planned — but it is still absolutely within our reach.”

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