01:13:25 pm on October 28, 2010
Satcon Technologies (SATC) posted mixed earnings results this morning missing on the EPS side with a .02/share loss (vs analyst estimates of .01/share loss), but beating on the revenue side posting $58 million vs the analyst estimate of $52 million. Despite the small miss in EPS, it’s a big improvement over the year ago quarter when the company posted a .12/share loss. Revenues increased nearly 6 fold over the year ago quarter, so this remains a company with extraordinary growth and on track to post its first profitable quarter in company history next quarter and the first profitable year in company history next year.
“Given the continued strength of the utility scale market, coupled with our robust revenue growth and current backlog and pipeline, we continue to believe that we will acquire 20 percent of the global market for PV inverters at 250 kilowatt and above in 2011,” said CEO Steve Rhoades.
Looking ahead, the company expects a much better 4th quarter with revenues of $70 – $75 million and gross margins between 28 – 32%. That’s a significant increase over the analyst estimate of $63 million in revenues for next quarter.
Traders are selling the news a bit today and likely a bit disappointed with the EPS miss, but the stock remains quite bullish on the daily chart and remains in a strong up trend.
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