February 18, 2009 ndash; Analyst Comments ndash; Cowenrsquo;s Rob Stone weighed in on Suntechrsquo;s (NYSE:STP) Q4 and FY08 results this morning, reiterating an OUTPERFORM rating on the stock, while Pacific Crestrsquo;s March Bachman thinks OptiSolar could be an attractive take-out target.
Suntech reported a Q4 loss of $65.9 million, or $0.42 per share, compared with earnings of $50.6 million, or $0.29 per share for the same period last year. Revenue for the quarter increased 4.2% to $414.4 million. For FY08, net income declined to $111 million, or $0.66 per share, compared to $171.3 million, or $1.02 per share for FY07. Revenue for the year increased 43% to $1.92 billion. Management guided Q1 revenue to a range of $340 to $380 million, with gross margins between 12% to 15% and its FY09 shipments targeted at exceeding 800MW. It expects PV cell production capacity to remain at about 1GW for the year.
Stone ...
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