Yingli (YGE) Beats Q4 Loss Views; Issues Strong Outlook on Increased PV Application Expectations
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Yingli Green Energy ((NYSE: YGE) shares are trading higher pre-market Wednesday following stronger-than-expected fourth-quarter earnings numbers.
Revenue for the PV module manufacturing giant fell 34 percent to $407.95 million. The company swung to a loss of $599.4 million, or $3.87 per share. After adjustments for one-time items, the loss was narrowed to 13 cents per share.
Results were mixed to the Wall Street views calling for revs of $422.3 million and a loss of 26 cents per share.
"The PV industry experienced tremendous pressure in 2011 due to supply-demand imbalance throughout the value chain. This pressure was exacerbated by incentive adjustments in major solar markets and implementation of government austerity measures in Europe," commented CEO Liansheng Miao. "Challenges continue in 2012 due to potential incentive adjustments in European markets and the anti-dumping and countervailing duty investigation in the US. However, the potential risks are mitigated by the clear increase in PV applications globally as solar electricity has become much more affordable. We are confident that we will continue to gain market share by leveraging our strong brand, cutting-edge technology and competitive cost structure."
Yingli sees fiscal 2012 shipments of 2.4-GW to 2.5-GW, which compares to a reported 1.6-GW shipped in fiscal 2011.
Shares are up about 1 percent in early trading.
Revenue for the PV module manufacturing giant fell 34 percent to $407.95 million. The company swung to a loss of $599.4 million, or $3.87 per share. After adjustments for one-time items, the loss was narrowed to 13 cents per share.
Results were mixed to the Wall Street views calling for revs of $422.3 million and a loss of 26 cents per share.
"The PV industry experienced tremendous pressure in 2011 due to supply-demand imbalance throughout the value chain. This pressure was exacerbated by incentive adjustments in major solar markets and implementation of government austerity measures in Europe," commented CEO Liansheng Miao. "Challenges continue in 2012 due to potential incentive adjustments in European markets and the anti-dumping and countervailing duty investigation in the US. However, the potential risks are mitigated by the clear increase in PV applications globally as solar electricity has become much more affordable. We are confident that we will continue to gain market share by leveraging our strong brand, cutting-edge technology and competitive cost structure."
Yingli sees fiscal 2012 shipments of 2.4-GW to 2.5-GW, which compares to a reported 1.6-GW shipped in fiscal 2011.
Shares are up about 1 percent in early trading.
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