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Technology Stocks : Energy Conversion Devices

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To: Mr. Sunshine who wrote (8292)	6/5/2008 11:58:04 AM
From: A.J. Mullen	Read Replies (1) of 8393

Energy Conversion Devices: Stock Up 75% Since Earnings by: Tim Weidman posted on: June 03, 2008 \| about stocks: ENER seekingalpha.com Energy Conversion Devices (ENER) released their 3rd quarter earnings on May 8th, 2008. Since then, the company's stock is up 75% on better than expected results. What really got this stock moving the day of earnings were highlights from the company's conference call. Here is a brief summary below. * MW's Produced 3rd quarter: 21.6 vs 8.8 a year ago * .17 cent gain vs .17 cent loss a year ago * Revenue 70 million vs 27.4 million a year ago * Unisolar Laminates drove growth....they don't use polysilicon * Commerical rooftops 5GW by 2012 * They are the leader in Building Integrated [BIVP] * France, Italy, Germany giving incentives for rooftop BIVPs * Pipeline: 400MW's in sales commitments 2009-2011 * They expect 25MW in 4th quarter * Gross Margins 4th quarter 30-31% * Doubling nameplate capacity 2008-2009 * 290-310 million costs to produce 300 MW for fiscal 2010 * 4Q revenue guidance 73million-78million * Fiscal 2008 Full Year Revenue Guidance: 246-251 Million As you can see, ECD is growing at a fast pace! This enormous move in stock price reminds me of First Solar's (FSLR) move early in 2007 when the company reported 4th quarter earnings of .11 vs (.11) in the 4th quarter of 2005. The stock soared from $34.28 to $57.81 just one month later. Looking at my Technical Charts, Energy Conversion Devices has mild support around the $57 level as well as the $53.50 area. Investors looking to take a long position in this stock should be cautious as it is very volatile. While oil prices remain above $100, solar stocks will continue to benefit. I will be watching closely when ECD reports 4th quarter earnings in early August for management to prove to me that they mean business. Disclosure: No Position....waiting for a correction to get back in

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