Thursday, August 27, 2009

Energy Conversion Devices: Results, Outlook Disappoint. China Sunergy Beats (ENER; CSUN)

The stock is down 66 cents (5.28%). Just yesterday we relayed "Cowen’s Stone Maintains Energy Conversion Devices at OUTPERFORM (ENER)". Today Tech Trader Daily reports:

Energy Conervsion Devices (ENER) this morning was the latest solar energy stock to post disappointing financial results.

For the fiscal fourth quarter ended June 30, the company reported revenue of $51.4 million, down from $66 million in Q3 and $82.4 million a year ago, and below the Street consensus of $56.8 million. The company lost $15.8 million or 37 cents a share in the quarter; that included 32 cents a share in special charges. Before those items, the company would have lost 5 cents a share, a penny less than the Street consensus estimate of a loss of six cents a share....MORE

Compare with:

China Sunergy Rallies As Q2 Revs, EPS Top Estimates

I'd have to say Advantage China on this head to head (I know, totally different technologies, business models etc., but still, the Chinese are reporting some rays of hope: see TSL)