Yingli (YGI) Beats Q2 Views on Top and Bottom as PV Shipments Continue to Roll
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Yingli Green Energy (NYSE: YGE) shares are in positive territory Friday morning, following its second-quarter earnings report earlier in the session.
Revenue ripped 71 percent higher, from $398.1 million last year to $680.6 million this quarter.
Net income in the quarter was $60.67 million, or 36 cents per share, a 71 percent increase from 21 cents per share reported in the same period last year. Excluding certain items, and Yingli's non-GAAP earnings were 34 cents per share.
Overall, the consensus was looking for revs of $616.0 million and EPS of 28 cents.
Shipments rose 36.6 percent to 250 megawatts (MW) in the second quarter.
"Increased shipments were primarily attributable to the improved market conditions, solid management execution and our diversified customer portfolio," CEO Liansheng Miao commented. "I'm pleased to announce that we have just brought online another 700 MW capacity, including 600 MW in our Baoding headquarters and 100 MW in Hainan Province. We expect the new capacities to be fully released before the end of this year, bringing our total designed capacity to 1.7 GW."
Yingli continues to see fiscal 2011 shipments of 1.70 to 1.75-gigawatts.
Following a 9.8 percent drop Thursday, the stock is up 0.5 percent.
Revenue ripped 71 percent higher, from $398.1 million last year to $680.6 million this quarter.
Net income in the quarter was $60.67 million, or 36 cents per share, a 71 percent increase from 21 cents per share reported in the same period last year. Excluding certain items, and Yingli's non-GAAP earnings were 34 cents per share.
Overall, the consensus was looking for revs of $616.0 million and EPS of 28 cents.
Shipments rose 36.6 percent to 250 megawatts (MW) in the second quarter.
"Increased shipments were primarily attributable to the improved market conditions, solid management execution and our diversified customer portfolio," CEO Liansheng Miao commented. "I'm pleased to announce that we have just brought online another 700 MW capacity, including 600 MW in our Baoding headquarters and 100 MW in Hainan Province. We expect the new capacities to be fully released before the end of this year, bringing our total designed capacity to 1.7 GW."
Yingli continues to see fiscal 2011 shipments of 1.70 to 1.75-gigawatts.
Following a 9.8 percent drop Thursday, the stock is up 0.5 percent.
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