China Ming Yang (MY) Reports Q1 Profit of 24c/ADS

China Ming Yang (NYSE: MY) reported Q1 EPS of $0.24, versus $0.03 reported last year. Revenue for the quarter came in at $196.9 million, versus $129.7 million reported last year.

Total wind turbine generators ("WTGs") for which revenue was recognized amounted to an equivalent wind power project output of 386.0MW, or 224 units of 1.5MW and 25 units of 2.0MW WTGs, an increase of 57.2% compared to 245.5MW in Q1 2013.

Order Book Update

New Sales Contracts - During the first quarter of 2014, Ming Yang entered into sales contracts for wind power projects with a total output of 671.5MW, representing 285 units of 1.5MW WTGs and 122 units of 2.0MW WTGs.

Order Backlog - As of March 31, 2014, the Company's order backlog amounted to 3.3GW, representing 1,361 units of 1.5MW WTGs, 524 units of 2.0MW WTGs, 59 units of 3.0MW SCD WTGs and 1 unit of 6.0MW SCD WTG. Cumulative signed orders since its inception amounted to 8.3GW, representing 4,484 units of 1.5MW WTGs, 647 units of 2.0MW WTGs, 79 units of 2.5-3.0MW SCD WTGs and 1 unit of 6.0MW SCD WTG.

For earnings history and earnings-related data on China Ming Yang (MY) click here.

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