Suntech and Soleos Solar GmbH, a PV systems integrator that manufactures and distributes solar power installations, announced that they have entered into agreements for Suntech to supply Soleos with at least 6 megawatts of solar modules in the first half of 2009. The CEO of Soleos remarked that Soleos expects to purchase 30 megawatts of modules from Suntech by the end of 2009.
Suntech agrees to 4MW of modules to Enerray to be installed on Italy's industrial complexes. Italy's subsidy of EUR0.34/kWh for ground-mounted PV systems and EUR0.44/kWh for building-mounted PV systems has led the country's solar industry to grow significantly in the last year.
Suntech Power Holdings Co., Ltd. announced that for first quarter of 2008, it expects revenues to be in the range of $370-$380 million. For fiscal 2008, it expects revenues to be in the range of $1.9-$2.1 billion. According to Reuters Estimates, analysts were expecting the Company to report revenues of $456 million for first quarter of 2008 and revenues of $2.2 billion for fiscal 2008.
On its quarterly eanings call, the company warned its gross margins - the percentage of sales that are profit - might be lower than expected because a shortage of the silicone wafers used to make solar cells has led to skyrocketing prices.
05/29/2007 - 05/30/2007: Share decline slightly because released financial reports show that profit margins have fallen slightly, disappointing investors and causing some to bail and sell their shares.
05/23/2007 - 05/24/2007: Shares drop as Suntech begins construction of a thin-film production facility; though this may have a long-run positive effect, construction now incurs investment costs, leading short-term investors to dump the stock.
03/09/2007 - 03/12/2007: Shares fall slightly as Suntech posts revenues that are lower than analysts expected, though profits tripled from Q406. Shares dropped because investors assumed that revenue would be higher; despite higher profits, the lower disconfirmation of their assumption may have scared some into selling.