China's Datang to Invest in $2.9 Billion Nuclear Project
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E-Waste@Large
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Costly Alien Invaders Rock World's Balance
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Biofuel to Drive Indonesian Palm Oil Expansion
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SunPower Narrows 4Q Loss, Shares Jump
SunPower, a leading solar panel manufacturer, saw its shares jump when it announced smaller losses for Q4 projected significant sales growth for the first quarter of 2006. For the three months ended Dec. 31, revenue was $29.3 million, over six times last year’s $4.7 million. The company lost $640,000, or a penny per share, down from a loss of $10.4 million last year. Excluding stock option expenses, earnings were $1.5 million, or 2 cents per share, up from last year’s loss of $9.1 million. SunPower, which was spun off from Cypress Semiconductor Corp. in 2005, said the results from 2005 are combined results from the predecessor and successor company. The company said it expects to earn between 2 cents and 4 cents per share, excluding charges, on revenue between $38 million and $40 million for the first quarter.
MEMC Announces Q4, 2005 Results: Shares Jump
MEMC Electronic Materials, Inc. (NYSE: WFR)shares jumped when the company reported preliminary financial results for the fourth quarter and year ended December 31, 2005. Summary of the 2005 fourth quarter results: * Net sales of $317.3 million, an increase of 18.2% for Q4 from last year * Gross Margin of 40.2%; operating expenses declined * Cash of $153.6 million after debt pay-down of over $80 million Commenting on the company’s performance, Nabeel Gareeb, MEMC’s Chief Executive Officer, said: “As expected, the stronger pricing environment has materialized and contributed to good incremental margins. Unit demand for the semiconductor and solar industries continued to show strong growth, and there are no short-term indications of a slow down. In addition, our profit generation enabled us to pay off a large amount of debt and have a significant net cash (cash less debt) position.” Net sales of $317.3 million for the fourth quarter of 2005 represent an increase of 18.2% from the fourth quarter 2004 level of $268.4 million. Fourth quarter gross margin was $127.7 million, or 40.2% of sales. Operating expenses of $31.9 million declined as a percentage of sales to 10.0% from 11.0% of sales in the year-ago quarter. This resulted in […]
GE Bets on Energy, Water, New Economies for Future
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Distributed Energy Systems Files for $125M Shelf
Distributed Energy Systems Corp. (Nasdaq: DESC), which provides products and services for distributed power generation and storage, filed a shelf registration statement to periodically sell up to $125 million in preferred and common stock and debt securities. The company plans to use the proceeds for working capital to expand facilities, acquisitions, and debt repayment.
Intermagnetics Board Approves Stock Split
Intermagnetics General Corp., manufacturer of MRIs for for medical diagnostics and superconductor for the electrical grid, has approved a 3-for-2 stock split. On Feb. 21 shareholders will receive one additional share of Intermagnetics’ common stock for every two shares held as of Feb. 6.
Herman Miller Sets $150M Buyback, Ups Dividend
Furniture manufacturer Herman Miller Inc. (NYSE: MLHR) has authorized the buyback of up to $163 million of shares, or 8% of its outstanding shares as of Jan. 10. The board of directors also raised the quarterly stock dividend about 10% percent, and authorized the buyback of up to an additional $150 million of shares. The Zeeland, Michigan-based firm raised the dividend to from 7.25 cents to 8 cents per share.
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