China Ming Yang (MY) Swings to Q2 Profit

China Ming Yang (NYSE: MY) reported Q2 EPS of RMB0.11, versus (RMB0.51) reported last year. Revenue for the quarter came in at RMB935.6 million, versus RMB537.42 million reported last year.

Total wind turbine generators ("WTGs") commissioned for which revenue was recognized amounted to an equivalent wind power project output of 303.5MW, or 153 units of 1.5MW and 37 units of 2.0MW WTGs, an increase of 88.5% compared to 161MW in Q2 2013.

usiness Update

Order Book Update

New Sales Contracts – During the second quarter of 2014, Ming Yang entered into sales contracts for wind power projects with a total output of 617.0MW, representing 166 units of 1.5MW WTGs and 184 units of 2.0MW WTGs.

Order Backlog – As of June 30, 2014, the Company's order backlog amounted to 3.6GW, representing 1,374 units of 1.5MW WTGs, 671 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 8.9GW, representing 4,650units of 1.5MW WTGs, 831 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.

You May Also Be Interested In

• Ondas Holdings Inc. (ONDS) Misses Q2 EPS by 9c
• Forum Markets, Incorporated (FRMM) Tops Q2 EPS by 29c ; Offers Guidance
• SPAR Group (SGRP) Reports Q2 EPS of $0.04