SunEdison misses by $0.06, beats on revs
6:24 AM ET 8/7/13 | Briefing.com
<<The market doesn't like the report, SUNE presently trading down over -26 percent.>>
Reports Q2 (Jun) loss of $0.19 per share, excluding non-recurring items, $0.06 worse than the Capital IQ Consensus Estimate of ($0.13); non-gaap revenues fell 47.3% year/year to $491.6 mln vs the $438.1 mln consensus.Â
Solar Energy recognized non-GAAP revenue related to 51 MW of solar energy systems, interconnected 22 MW and ended the quarter with 200 MW under construction.Â
"Business conditions in the second quarter remained challenging, but I am optimistic regarding our prospects for growth through the remainder of this year and into next...Although the semiconductor wafer market continues to be in an extended downturn, our second quarter Solar Materials performance improved. Solar Energy posted sequentially higher non-GAAP sales, pipeline and backlog, and remains well positioned to capture a disproportionate share of the solar market going forward. We remain committed to maintaining a healthy balance sheet, achieving profitability and generating strong returns for our shareholders,"
Solar Energy ended the 2013 second quarter with a project pipeline of 2.9 GW, up 218 MW compared to the prior quarter and unchanged from the year ago period. Backlog at June 30, 2013 was 1.0 GW, an increase of 119 MW compared to the prior quarter.Â
Q3 Guidance Metrics: Semiconductor Materials revenue between $230 mln and $250 mln. Solar energy systems total non-GAAP sales volume in the range of 60 MW to 100 MW Solar energy systems. MW retained on the balance sheet between 0 MW and 10 MW Fully developed solar energy systems average project pricing between $3.25/watt and $3.50/watt.
FY13 Guidance Metrics: Semiconductor Materials revenue between $940 mln and $980 mln. Solar energy systems total non-GAAP sales volume in the range of 430 MW to 500 MW. Solar energy systems MW retained on the balance sheet between 50 MW and 100 MW Total solar energy systems average project pricing between $3.10/watt and $3.40/watt. |
