Suntech Power (STP) Posts Wider than Expected Loss of 76c/Sh; Sees Light Q1 Shipments
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Suntech Power Holdings (NYSE: STP) reported Q4 EPS of ($0.76), $0.41 worse than the analyst estimate of ($0.35). Revenue for the quarter came in at $629 million versus the consensus estimate of $554.68 million.
Total PV shipments decreased 9.7% sequentially and increased 3.2% year-over-year.
As a result of lower than expected inventory level and seasonal weakness in demand, Suntech expects shipments in the first quarter of 2012 to decline by approximately 30% from the fourth quarter of 2011.
For the fiscal year ending December 31, 2012, Suntech expects shipments to be in the range of 2.1GW to 2.5GW.
For earnings history and earnings-related data on Suntech Power Holdings (STP) click here.
Total PV shipments decreased 9.7% sequentially and increased 3.2% year-over-year.
As a result of lower than expected inventory level and seasonal weakness in demand, Suntech expects shipments in the first quarter of 2012 to decline by approximately 30% from the fourth quarter of 2011.
For the fiscal year ending December 31, 2012, Suntech expects shipments to be in the range of 2.1GW to 2.5GW.
For earnings history and earnings-related data on Suntech Power Holdings (STP) click here.
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