Yingli Green Energy Holding Co. Ltd. (NYSE: YGE) was indicated higher after earnings, but the trading volume is still too thin to make a judgment. Yingli looks like it is about to join other solar stocks shaking off the news. With an $11.25 price, the 52-week range is $8.31 to $19.11.
Yingli reported a profit of about $32.1 million and non-GAAP earnings were $0.25 EPS. Revenue rose 80% to $398.1 million. Thomson Reuters consensus was $0.19 EPS and $371 million in revenues. Gross margin rose to a record 33.5% versus 19.8% from a year ago.
As of June 30, Yingli had $601.5 million in cash and equivalents and it had working capital of $89.9 million.
The solar company also reaffirmed its PV module shipment targets for growth of 80.8% to 90.4% for a total of 950 MW to 1 GW for fiscal year 2010. Yingli also boosted its gross margin target to a range of 28% to 30% from a prior 2010 target of 27% to 29%.
Shares are indicated in a broad range from $11.25 to $11.50 in the pre-market session with about two hours until the market opens.
JON C. OGG
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