First Solar was the bright star of the sector, leading solar stocks on a rally reminding investors of the performance and gains of 2007
Renewable Energy Stocks solar expert, J Peter Lynch, commented, "First Solar's Q4 07 announcement today dramatically exceeded the street's general consensus resulting in an 20% gain in the stock which was oversold technically in the short term."
Mr. Lynch went on to say, "More importantly their announcement of full scale production and the resultant drop in cost per watt showed investors encouraging signs of PV technology reaching grid parity in the not too distant future and opening up an even more promising future for solar companies worldwide."
Sector Close-Up as of Trading February 13, 2008:
First Solar, Inc. beat the street and rewarded investors with a $52.90 (30.13%) gain with earnings of $62.9 million, 77 cents per share, compared with $8 million, or 12 cents per share, in the year-ago quarter. The rally continued in after market trading with additional gains. Revenues for the fiscal year ended December 29, 2007 were $504.0 million, up from $135.0 million in fiscal year 2006.
According to the company's press release, quoting Michael J. Ahearn, Chief Executive Officer of First Solar, "During the fourth quarter of 2007 we benefited from the full capacity and economies of scale of our Frankfurt/Oder plant. This combined with continued throughput and conversion efficiency gains afforded us strong operating leverage and decreased our manufacturing cost per watt by 12% year over year to $1.12 per watt in the fourth quarter of 2007, further solidifying our cost leadership position in the industry."
Clear Skies Solar, Inc. (OTC BB:CSKH.OB ) had a daily gain of 5.71%. According to Ezra Green, “FSLR earnings are further proof that the Solar sector is viable AND here to stay. We at CSKH are committed to the growth of solar energy by introducing new technologies and innovative methods of integrating solar technology into every sector of the commercial & industrial arena, we applaud their success."
Akeena Solar Inc. closed up 5.56%.
Evergreen Solar Inc shares were up 1.23 (12.17%) and another 2.20% in after market trading.
LDK Solar ADR had gains of $2.12 (6.32%).
Canadian Solar Inc. radiated, up $2.60 (12.87%).
China Sunergy Company Ltd. was another bright star up 6.87%.
SunPower Corporation followed the pack with an $8.82 (12.37%) gain.
Yingli Green Energy Holding Company Limited rallied up 16.6 %.
"The solar industry is well on its way towards attaining a significant presence within the broader electric power industry, and as evidenced by the rise in reported revenues by solar manufacturers, is poised for continued strong growth over the foreseeable future," stated Tom Djokovich, CEO of XsunX, Inc.(OTCBB:XSNX). "Grid parity, supported by a global drive to reduce green house gases, government incentives, and aggressive corporate cost-cutting plans, should be attained within five years and drive further impressive solar growth. In my opinion the sky's the limit for solar's future. We're very excited about leveraging our experience with amorphous thin-films to build and operate a module manufacturing facility and begin delivering much needed product into this market in early 2009," concluded Djokovich.
For investors following solar stocks, the RenewableEnergyStocks.com website provides a comprehensive list of photovoltaic and solar stocks to research.
Investorideas.com and RenewableEnergyStocks.com will be hosting an online investor conference, March 21, 2008, giving investors free online access to industry and investing perspective in the greentech sector.
Solar companies Akeena Solar(NASDAQ:AKNS), Clear Skies Group Inc (OTCBB: CSKH) and XsunX:(OTCBB: XSNX) will present in the company of some of the leading experts in the industry. Conference Info available at the InvestorIdeas.Com website.
Featured Showcase Solar Company: Clear Skies Solar, Inc. (OTC BB:CSKH.OB ) through its wholly owned subsidiary, Clear Skies Group, Inc., provides full-service renewable energy solutions to commercial, industrial, and agricultural clients across the country. CSG was incorporated in 2003 and launched formal operations in 2005. During that time period, CSG developed its proprietary systems, obtained licenses and certifications, and acquired technologies that could maximize the impact of its construction expertise on the renewable energy sector. CSG has become one of the premier solar electric installation companies in the country. More info can be found on the Investorideas.com Company Showcase, or the company website.
Featured Showcase Solar Company XsunX: (OTCBB: XSNX) Based in Aliso Viejo, Calif., XsunX is developing amorphous silicon thin film photovoltaic (TFPV) solar cell manufacturing processes to produce TFPV solar modules. To deliver its products the Company has begun to build a multi- megawatt TFPV solar module production facility in the United States to meet the growing demand for solar cell products used in large scale commercial projects, utility power fields, and other on-grid applications. Employing a phased roll out of production capacity, it plans to grow manufacturing capacities to over 100 megawatts by 2010. More info on XsunX, Inc. can be found on our media profile or the company website.
About Our Green Investor Portals
RenewableEnergyStocks.com® is one of several green investor portals within Investorideas.com and provides investors with stock news, exclusive articles and financial columnists, audio interviews, investor conferences, Blogs, and a directory of stocks within the renewable energy, clean tech and fuel cell sectors.
Disclaimer: Our sites do not make recommendations. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. We attempt to research thoroughly, but we offer no guarantees as to the accuracy of information presented. All Information relating to featured companies is sourced from public documents and/ or the company and is not the opinion of our websites. This site is currently compensated by featured companies, news submissions and online advertising. XsunX and Clear Skies Holdings compensate the website $5000 per month.
Source: RenewableEnergyStocks.com, XsunX, Clear Skies Holdings, Inc.