Manish, I too am very bullish on PCOM, my biggest holding now at
5000 shares. You have one item wrong, they are not the biggest
producer of solar panels, arco/siemens, solarex, kyocera all produce
many more solar panels. But PCOM is the largest integrator, selling
completed turn key power systems using solar panels, about 20M
annual sales. My background: I'm a EE, do some solar, have bought
about 7500 watts of solar panels the past few years, have a 48K
order in with PCOM right now for a Cell-pak, nice turn key product
the cell phone business uses for remote sites.
PCOM is consolidating the solar biz, one stop shopping, buying up
small providers like Sunelco and Solarjack pumps. Their marketing
approach seems excellent. 93-94-95 sales were 11,14,20M, profits
growing faster. Total annual market for solar is 500M, they can
grab more and more of that I think. The exploding communications
biz intends to serve every square inch of the planet within 10 years
(cell phone everywhere), lots of opportunity for solar popwered sites.
call them for a very nice info packet: 602-948-8003, 800 223 9580
I'd like to get a serious discussion going on these guys, I havent
been able to find any real negatives on PCOM and am bullish on
the industry. Wildcards are: possibility of future oil crisis, and solar
panels at $1 to $2 per watt opens huge markets. Or how about
enviromentalist Al Gore as president in 5 years and solar tax
subsidies again? I really see these guys earning $1/share in 3 to
5 years and selling for 30 times earnings.
My biggest concern: I dont understand the implications of majority
stake that New World Power Co holds in PCOM. They put out a
nice investors packet, and sec filings are on EDGAR, web site
for NREL gives good background on solar biz. So somebody
please tell me whats wrong with PCOM, I havent been able to
find it yet. |
