Suntech Power (STP) Posts Q3 adj.-Loss of 19c/Sh.; Lowers FY11 Shipment, Revs Outlook
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Suntech Power Holdings (NYSE: STP) reported Q3 EPS of ($0.19), $0.07 better than the analyst estimate of ($0.26). Revenue for the quarter came in at $830.7 million versus the consensus estimate of $766.1 million.
Sees FY2011 revenue of $3.0-$3.1 billion, versus the consensus of $3.14 billion. For the fiscal year ending December 31, 2011, Suntech expects to ship at least 2GW of solar products. This compares to previous shipment guidance of 2.2GW and revenue guidance $3.2 to $3.4 billion.
In the fourth quarter of 2011, Suntech expects PV shipments to decrease by approximately 20% compared with the third quarter of 2011. Suntech expects gross margin will be in the range of 9% to 11% in the fourth quarter of 2011.
Sees FY2011 revenue of $3.0-$3.1 billion, versus the consensus of $3.14 billion. For the fiscal year ending December 31, 2011, Suntech expects to ship at least 2GW of solar products. This compares to previous shipment guidance of 2.2GW and revenue guidance $3.2 to $3.4 billion.
In the fourth quarter of 2011, Suntech expects PV shipments to decrease by approximately 20% compared with the third quarter of 2011. Suntech expects gross margin will be in the range of 9% to 11% in the fourth quarter of 2011.
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