April 30, 2009 ndash; Analyst Comments ndash; Global Huntersrsquo;s Justin Cable weighed in on Akeenarsquo;s (Nasdaq:AKNS) Q1 results maintaining a NEUTRAL rating on the stock. Akeenarsquo;s Results Akeena (Nasdaq:AKNS) reported a 37% Y/Y decline in Q1 revenue to $7.6 million, gross margins of 29.7% and a net loss of $5.1 million, or $0.17 per share. Commercial sales were $915 thousand and residential sales were $6.7 million. The company installed about 945kW for the quarter compared to 1,587kW in the same quarter last year. Cash and equivalents at March 31, 2009 were $2.9 million, and the companyrsquo;s backlog was about $4.8 million. Management didnrsquo;t provide guidance, but noted that the quarterly EBITDA breakeven is about $15 million. Cablersquo;s Takeaways middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; Revenues missed estimates of $9.5 million and First Call consensus of $9.2 million middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; The new Andalay panels are driving higher gross margins middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; Cut FY2009 estimates in both revenues and EPS. middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; Maintain Neutral.nbsp; ...

March 11, 2009 ndash; Analyst Comments ndash; Global Hunterrsquo;s Justin Cable weighed in on Altair Nano (Nasdaq:ALTI) and Real Goods Solar (Nasdaq:RSOL) this afternoon, reiterating a SELL recommendation on Altair and a NEUTRAL rating on Real Goods. Altair reported FY08 revenues of $5.7 million, down from $9.1 million for FY07, and a net loss of $29.1 million, or $0.34 per share, compared to a net loss of $31.5 million, or $0.45 per share. Cash and cash equivalents as of December 31, 2008 were $28.1 million, and management expects to maintain a burn at about $1.62 per month going forward, which should take the company into the first half of 2010. Altair Takeaways: middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; With Q4 revenues were under $1 million and net losses which were $6 million, Cable noted surprise at the fact that Altairrsquo;s market cap is still $60 million; middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; Cable noted that there is some blue sky ...

February 4, 2009 ndash; Analyst Comments ndash; Global Hunterrsquo;s Justin Cable weighed in on Echelon (Nasdaq:ELON) with a downgrade to NEUTRAL, ahead of Echelonrsquo;s earnings report citing ldquo;too much uncertainty given the weak environment.rdquo; Here are Cablersquo;s key takeaways:

middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; Echelonrsquo;s LonWorks Division and NES divisions rely on business investments and the weak economic environment is likely to continue to delay spending here. Large deployments of Advanced Metering Infrastructure are subject to delays. All of this creates a negative risk/reward profile.

middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; Current estimates are at the low end of managementrsquo;s guidance. Forecasts for FY09 are $142 million in revenues and ($0.50) in GAAP EPS.

middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; nbsp;A strong dollar relative to the euro will pressure Echelonrsquo;s Y/Y comparisons (EMEA accounted for 73% of trailing 12-month revenue)

middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; Balance sheet is solidnbsp; but burn will continue through first half of 2009.

middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; Maintaining price target of $9 based on an EV/sales …

December 16, 2008 ndash; Analyst Comments ndash; Global Hunterrsquo;s Justin Cable weighed in today on Akeena Solar (Nasdaq:AKNS) a downstream solar company whose stock has been battered in recent months on concerns about widening losses and slowdown in solar project spending in the midst of the current recessionary environment. Cable maintained his NEUTRAL rating, and his previously lowered his price target of $2.50 (Cable had lowered his target on AKNS from $5 to $2.50 back on November 7). Akeena this morning issued revised guidance for FY2008 lowering its estimated Y/Y revenue growth to a range of 25% to 30% from 30% to 40%, citing delays in installations on a few of its larger commercial projects. Cable noted that he had already been assuming 30% growth in his revised estimates, which is the basis for his maintaining existing targets, but also noted that he advises staying on the sideline until the ...

November 11, 2008 – Analyst Notes – Global Hunter’s Justin Cable commented on financial results for Solar Power (OTCBB:SOPW) and Real Goods Solar (Nasdaq:RSOL), maintaining a neutral and $2.00 price target on Solar Power and a Neutral, with a lowered price target to $5.00 on Real Goods Solar. The stocks closed at $1.29 and $4.25, respectively, in yesterday’s session. Here are Cable’s takeaways: Solar Power – ·         Q3 revenues of $19.6 million beat previous Q3 revenue projection of $10.3 million. Revenues increased 135% Y/Y, driven by direct panel sales to third parties, but gross margins remain weak, at 9.5%; ·         FY08 guidance of $48 million led to adjusted estimates higher for Q408 and FY09, with projected profitability in the Q4, 2009; ·         $3 million in cash with existing cash burn remain a concern leading to maintained NEUTRAL rating. Real Goods Solar – ·         Q3 revenues of $10.3 million beat estimates ...

November 7, 2008 – Analyst Notes – Global Hunter’s Justin Cable issued the comments on Akeena Solar (Nasdaq:AKNS), maintaining his NEUTRAL stance and lowering his price target to $2.50 from $5.00 and Altair Nanotechnologies (Nasdaq:ALTI), maintaining his SELL rating and lowing his price target to $1.00 from $1.50. Here are his takeaways: Akeena ·         Q3 revenues beat by 15% ·         Net loss for quarter larger than expected ·         Gross margin was 12.7% vs. estimated 17% ·         Increase in debt ·         Increase in backlog ·         Installed 1,290kw in quarter versus 854 in prior quarter ·         Higher inventory ·         Guidance maintained by management – 30% to 40% revenue growth for FY08 and EBITDAS breakeven in second half of FY2009 Altair ·         Revenues still minimal ·         Significant losses continue ·         Cash of $33.7 million ·         Yet to see material orders We think Cable’s assessments on both companies is right on. In fact, we would probably be more conservative, and assume a forward ...